Metis Global Partners LLC Takes Position in The Scotts Miracle-Gro Company $SMG

Metis Global Partners LLC acquired a new stake in The Scotts Miracle-Gro Company (NYSE:SMG) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,694 shares of the basic materials company’s stock, valued at approximately $244,000.

Other hedge funds also recently added to or reduced their stakes in the company. Millennium Management LLC raised its position in Scotts Miracle-Gro by 288.8% in the first quarter. Millennium Management LLC now owns 1,421,220 shares of the basic materials company’s stock valued at $78,011,000 after purchasing an additional 1,055,672 shares during the period. Cubist Systematic Strategies LLC grew its holdings in shares of Scotts Miracle-Gro by 770.3% during the 1st quarter. Cubist Systematic Strategies LLC now owns 334,934 shares of the basic materials company’s stock worth $18,385,000 after purchasing an additional 296,448 shares during the period. Sound Income Strategies LLC increased its position in shares of Scotts Miracle-Gro by 219,313.5% during the 2nd quarter. Sound Income Strategies LLC now owns 162,366 shares of the basic materials company’s stock worth $10,710,000 after purchasing an additional 162,292 shares during the last quarter. Vanguard Group Inc. raised its holdings in Scotts Miracle-Gro by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 4,645,267 shares of the basic materials company’s stock valued at $254,979,000 after buying an additional 118,729 shares during the period. Finally, Citigroup Inc. raised its holdings in Scotts Miracle-Gro by 149.5% in the 1st quarter. Citigroup Inc. now owns 192,437 shares of the basic materials company’s stock valued at $10,563,000 after buying an additional 115,308 shares during the period. 74.07% of the stock is currently owned by hedge funds and other institutional investors.

Scotts Miracle-Gro Stock Down 0.2%

Scotts Miracle-Gro stock opened at $58.39 on Friday. The Scotts Miracle-Gro Company has a 52-week low of $45.61 and a 52-week high of $83.55. The firm has a market cap of $3.37 billion, a PE ratio of 76.83 and a beta of 1.98. The company’s 50 day moving average is $57.19 and its two-hundred day moving average is $60.58.

Scotts Miracle-Gro (NYSE:SMG) last posted its quarterly earnings results on Wednesday, November 5th. The basic materials company reported ($1.96) EPS for the quarter, missing the consensus estimate of ($1.88) by ($0.08). The business had revenue of $387.40 million during the quarter, compared to analyst estimates of $396.75 million. Scotts Miracle-Gro had a negative return on equity of 60.46% and a net margin of 1.54%.The business’s revenue was down 6.6% on a year-over-year basis. During the same quarter last year, the firm earned ($2.31) EPS. Scotts Miracle-Gro has set its FY 2025 guidance at 4.150-4.350 EPS. On average, equities research analysts anticipate that The Scotts Miracle-Gro Company will post 3.42 earnings per share for the current fiscal year.

Scotts Miracle-Gro Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Friday, November 21st will be issued a dividend of $0.66 per share. The ex-dividend date is Friday, November 21st. This represents a $2.64 annualized dividend and a yield of 4.5%. Scotts Miracle-Gro’s dividend payout ratio is 109.09%.

Analysts Set New Price Targets

SMG has been the subject of several research analyst reports. Wall Street Zen lowered shares of Scotts Miracle-Gro from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. 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. Jefferies Financial Group lifted their target price on shares of Scotts Miracle-Gro from $71.00 to $74.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Weiss Ratings restated a “hold (c-)” rating on shares of Scotts Miracle-Gro in a research note on Wednesday, October 8th. Finally, UBS Group dropped their price objective on Scotts Miracle-Gro from $62.00 to $61.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.50.

Insider Transactions at Scotts Miracle-Gro

In other Scotts Miracle-Gro news, Director Hagedorn Partnership, L.P. sold 56,633 shares of the stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $63.02, for a total value of $3,569,011.66. Following the sale, the director directly owned 13,217,641 shares of the company’s stock, valued at approximately $832,975,735.82. This represents a 0.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Mark J. Scheiwer acquired 1,790 shares of Scotts Miracle-Gro stock in a transaction dated Wednesday, September 3rd. The stock was purchased at an average price of $61.32 per share, for a total transaction of $109,762.80. Following the completion of the acquisition, the executive vice president directly owned 10,130 shares in the company, valued at approximately $621,171.60. This represents a 21.46% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 25.37% of the stock is owned by company insiders.

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.