Boyar Asset Management Inc. Raises Stake in The Scotts Miracle-Gro Company $SMG

Boyar Asset Management Inc. grew its stake in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 1.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,106 shares of the basic materials company’s stock after purchasing an additional 289 shares during the quarter. Scotts Miracle-Gro makes up approximately 1.2% of Boyar Asset Management Inc.’s investment portfolio, making the stock its 17th largest position. Boyar Asset Management Inc.’s holdings in Scotts Miracle-Gro were worth $1,854,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Moors & Cabot Inc. raised its holdings in shares of Scotts Miracle-Gro by 3.1% in the first quarter. Moors & Cabot Inc. now owns 6,415 shares of the basic materials company’s stock valued at $352,000 after acquiring an additional 191 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in shares of Scotts Miracle-Gro by 2.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 8,826 shares of the basic materials company’s stock valued at $484,000 after buying an additional 200 shares during the last quarter. State of Michigan Retirement System raised its position in shares of Scotts Miracle-Gro by 2.0% in the 1st quarter. State of Michigan Retirement System now owns 10,300 shares of the basic materials company’s stock valued at $565,000 after purchasing an additional 200 shares during the last quarter. Sagespring Wealth Partners LLC grew its holdings in shares of Scotts Miracle-Gro by 4.8% during the first quarter. Sagespring Wealth Partners LLC now owns 4,524 shares of the basic materials company’s stock valued at $248,000 after buying an additional 207 shares during the last quarter. Finally, Louisiana State Employees Retirement System grew its holdings in shares of Scotts Miracle-Gro by 2.5% during the first quarter. Louisiana State Employees Retirement System now owns 12,100 shares of the basic materials company’s stock valued at $664,000 after buying an additional 300 shares during the last quarter. 74.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SMG shares. UBS Group reduced their price target on shares of Scotts Miracle-Gro from $68.00 to $62.00 and set a “neutral” rating for the company in a research report on Thursday. Truist Financial set a $80.00 price objective on shares of Scotts Miracle-Gro and gave the stock a “buy” rating in a research note on Monday, July 14th. Wells Fargo & Company dropped their price objective on shares of Scotts Miracle-Gro from $75.00 to $67.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. Stifel Nicolaus dropped their price objective on shares of Scotts Miracle-Gro from $71.00 to $70.00 and set a “hold” rating on the stock in a research note on Monday, August 4th. Finally, Jefferies Financial Group set a $71.00 price target on shares of Scotts Miracle-Gro in a research note on Friday, September 26th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $69.17.

Insider Buying and Selling at Scotts Miracle-Gro

In other news, Director Hagedorn Partnership, L.P. sold 70,000 shares of Scotts Miracle-Gro stock in a transaction on Monday, August 4th. The stock was sold at an average price of $62.28, for a total transaction of $4,359,600.00. Following the transaction, the director owned 13,274,274 shares in the company, valued at $826,721,784.72. The trade was a 0.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark J. Scheiwer purchased 1,790 shares of Scotts Miracle-Gro stock in a transaction dated Wednesday, September 3rd. The shares were bought at an average price of $61.32 per share, for a total transaction of $109,762.80. Following the acquisition, the executive vice president owned 10,130 shares in the company, valued at approximately $621,171.60. This trade represents a 21.46% increase in their ownership of the stock. The disclosure for this purchase can be found here. 25.37% of the stock is owned by insiders.

Scotts Miracle-Gro Stock Down 1.1%

Shares of SMG opened at $57.81 on Friday. The Scotts Miracle-Gro Company has a 52-week low of $45.61 and a 52-week high of $93.90. The firm’s fifty day moving average is $60.82 and its two-hundred day moving average is $60.11. The stock has a market cap of $3.34 billion, a PE ratio of 76.06 and a beta of 1.96.

Scotts Miracle-Gro (NYSE:SMG) last announced its earnings results on Wednesday, July 30th. The basic materials company reported $2.59 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the previous year, the company posted $2.31 EPS. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. Scotts Miracle-Gro has set its FY 2025 guidance at 3.500- EPS. As a group, research 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 business also recently declared a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 22nd were issued a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 4.6%. The ex-dividend date was 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.