The Scotts Miracle-Gro Company $SMG Shares Sold by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Scotts Miracle-Gro by 5.4% during Q1, owning 512,975 shares valued at approximately $28.2 million after selling 29,552 shares.
• Several institutional investors increased their positions in Scotts Miracle-Gro, with notable increases from Oppenheimer & Co. (21.9%) and GAMMA Investing LLC (31.6%).
• Scotts Miracle-Gro declared a quarterly dividend of $0.66, scheduled for payment on September 5th, providing an annualized yield of 4.3%.

Charles Schwab Investment Management Inc. lowered its position in shares of The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 5.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 512,975 shares of the basic materials company's stock after selling 29,552 shares during the period. Charles Schwab Investment Management Inc. owned about 0.89% of Scotts Miracle-Gro worth $28,157,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Oppenheimer & Co. Inc. increased its position in shares of Scotts Miracle-Gro by 21.9% during the first quarter. Oppenheimer & Co. Inc. now owns 3,819 shares of the basic materials company's stock worth $210,000 after purchasing an additional 685 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Scotts Miracle-Gro by 31.6% during the first quarter. GAMMA Investing LLC now owns 1,614 shares of the basic materials company's stock worth $89,000 after purchasing an additional 388 shares in the last quarter. Sowell Financial Services LLC acquired a new stake in shares of Scotts Miracle-Gro during the first quarter worth about $226,000. SG Americas Securities LLC acquired a new stake in shares of Scotts Miracle-Gro during the first quarter worth about $1,011,000. Finally, M&T Bank Corp increased its position in shares of Scotts Miracle-Gro by 30.7% during the first quarter. M&T Bank Corp now owns 4,543 shares of the basic materials company's stock worth $249,000 after purchasing an additional 1,066 shares in the last quarter. Institutional investors and hedge funds own 74.07% of the company's stock.

Insiders Place Their Bets

In other Scotts Miracle-Gro news, Director Hagedorn Partnership, L.P. sold 70,000 shares of Scotts Miracle-Gro stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $62.28, for a total value of $4,359,600.00. Following the sale, the director owned 13,274,274 shares of the company's stock, valued at approximately $826,721,784.72. The trade was a 0.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 25.37% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on SMG shares. Stifel Nicolaus cut their target price on Scotts Miracle-Gro from $71.00 to $70.00 and set a "hold" rating on the stock in a research report on Monday, August 4th. UBS Group set a $68.00 target price on Scotts Miracle-Gro and gave the stock a "neutral" rating in a research report on Thursday, July 31st. JPMorgan Chase & Co. cut their target price on Scotts Miracle-Gro from $80.00 to $65.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Wall Street Zen raised Scotts Miracle-Gro from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Finally, Truist Financial set a $80.00 price target on Scotts Miracle-Gro and gave the stock a "buy" rating in a report on Monday, July 14th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, Scotts Miracle-Gro presently has a consensus rating of "Moderate Buy" and a consensus target price of $71.17.

Scotts Miracle-Gro Stock Down 1.2%

NYSE SMG opened at $62.0350 on Wednesday. The Scotts Miracle-Gro Company has a 52-week low of $45.61 and a 52-week high of $93.90. The business's 50-day moving average price is $64.90 and its 200 day moving average price is $60.82. The firm has a market cap of $3.58 billion, a P/E ratio of 81.63 and a beta of 1.97.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The basic materials company reported $2.59 earnings per share for the quarter, beating analysts' consensus estimates of $2.19 by $0.40. Scotts Miracle-Gro had a negative return on equity of 60.46% and a net margin of 1.54%.The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the previous year, the company earned $2.31 EPS. The firm's revenue for the quarter was down 1.2% compared to the same quarter last year. Scotts Miracle-Gro has set its FY 2025 guidance at 3.500- EPS. As a group, analysts anticipate that The Scotts Miracle-Gro Company will post 3.42 earnings per share for the current year.

Scotts Miracle-Gro Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 22nd will be issued a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Friday, August 22nd. Scotts Miracle-Gro's payout ratio is currently 347.37%.

Scotts Miracle-Gro Company Profile

The Scotts Miracle-Gro Company, together with its subsidiaries, manufactures, markets, and sells products for lawn, garden care, and indoor and hydroponic gardening in the United States and internationally. It operates through three segments: U.S. Consumer, Hawthorne, and Other. The company provides lawn care products, comprising lawn fertilizers, grass seed products, spreaders, and other durable products, as well as lawn-related weed, pest, and disease control products; and gardening and landscape products, which include water-soluble and continuous-release plant foods, potting mixes, garden soils, mulches and ground cover products, plant-related pest and disease control products, organic garden products, and live goods and seeding solutions.

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