US Bancorp DE Has $3.18 Million Stock Position in The Scotts Miracle-Gro Company $SMG

Key Points

• US Bancorp DE increased its stake in The Scotts Miracle-Gro Company by 20.7%, owning approximately $3.18 million worth of shares as of the latest SEC filing.
• Scotts Miracle-Gro reported earnings of $2.59 per share for the last quarter, exceeding the consensus estimate by $0.40, although its revenue decreased 1.2% year-over-year.
• The company announced a quarterly dividend of $0.66 per share, resulting in a high dividend payout ratio of 347.37% and a yield of 4.7%.

US Bancorp DE lifted its holdings in shares of The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 20.7% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 48,176 shares of the basic materials company's stock after buying an additional 8,270 shares during the period. US Bancorp DE owned about 0.08% of Scotts Miracle-Gro worth $3,178,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. American National Bank & Trust acquired a new position in shares of Scotts Miracle-Gro during the 2nd quarter worth $28,000. Spire Wealth Management increased its position in Scotts Miracle-Gro by 477.9% during the 1st quarter. Spire Wealth Management now owns 549 shares of the basic materials company's stock worth $30,000 after purchasing an additional 454 shares in the last quarter. Avalon Trust Co acquired a new position in Scotts Miracle-Gro during the 1st quarter worth approximately $41,000. Byrne Asset Management LLC acquired a new position in Scotts Miracle-Gro during the 2nd quarter worth approximately $45,000. Finally, Hilltop National Bank acquired a new position in Scotts Miracle-Gro during the 2nd quarter worth approximately $66,000. Institutional investors and hedge funds own 74.07% of the company's stock.

Scotts Miracle-Gro Stock Up 1.3%

SMG opened at $56.15 on Wednesday. The Scotts Miracle-Gro Company has a twelve month low of $45.61 and a twelve month high of $93.90. The company has a fifty day moving average of $59.84 and a 200-day moving average of $60.10. The stock has a market cap of $3.24 billion, a PE ratio of 73.88 and a beta of 1.96.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The basic materials company reported $2.59 earnings per share for the quarter, topping the consensus estimate of $2.19 by $0.40. Scotts Miracle-Gro had a net margin of 1.54% and a negative return on equity of 60.46%. The company had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.23 billion. During the same period in the prior year, the company posted $2.31 earnings per share. Scotts Miracle-Gro'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. Sell-side analysts anticipate that The Scotts Miracle-Gro Company will post 3.42 EPS for the current fiscal year.

Scotts Miracle-Gro Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 22nd were paid a dividend of $0.66 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $2.64 annualized dividend and a yield of 4.7%. Scotts Miracle-Gro's dividend payout ratio (DPR) is currently 347.37%.

Insider Activity at Scotts Miracle-Gro

In related news, EVP Mark J. Scheiwer purchased 1,790 shares of Scotts Miracle-Gro stock in a transaction on Wednesday, September 3rd. The stock was acquired at an average cost of $61.32 per share, for a total transaction of $109,762.80. Following the completion of the acquisition, the executive vice president owned 10,130 shares of the company's stock, valued at $621,171.60. This trade represents a 21.46% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Hagedorn Partnership, L.P. sold 56,633 shares of the firm's stock in a transaction on Friday, September 5th. The stock was sold at an average price of $63.02, for a total transaction of $3,569,011.66. Following the completion of the sale, the director owned 13,217,641 shares of the company's stock, valued at $832,975,735.82. The trade was a 0.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 25.37% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SMG. Wells Fargo & Company lowered their price objective on shares of Scotts Miracle-Gro from $75.00 to $67.00 and set an "overweight" rating for the company in a research report on Thursday, September 25th. Truist Financial set a $80.00 target price on Scotts Miracle-Gro and gave the stock a "buy" rating in a report on Monday, July 14th. Zacks Research cut Scotts Miracle-Gro from a "strong-buy" rating to a "hold" rating in a report on Friday, September 19th. UBS Group lowered their target price on Scotts Miracle-Gro from $68.00 to $62.00 and set a "neutral" rating for the company in a report on Thursday, October 2nd. Finally, Jefferies Financial Group set a $71.00 price target on shares of Scotts Miracle-Gro in a research report on Friday, September 26th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $69.17.

About Scotts Miracle-Gro

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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