Financial Gravity Companies Inc. Invests $2.27 Million in The Scotts Miracle-Gro Company $SMG

Financial Gravity Companies Inc. purchased a new stake in shares of The Scotts Miracle-Gro Company (NYSE:SMG) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 34,333 shares of the basic materials company’s stock, valued at approximately $2,265,000. Financial Gravity Companies Inc. owned approximately 0.06% of Scotts Miracle-Gro at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. American National Bank & Trust purchased a new position in Scotts Miracle-Gro during the 2nd quarter valued at about $28,000. Byrne Asset Management LLC acquired a new stake in shares of Scotts Miracle-Gro during the second quarter worth approximately $45,000. Spire Wealth Management boosted its holdings in shares of Scotts Miracle-Gro by 32.1% during the second quarter. Spire Wealth Management now owns 725 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 176 shares during the period. Avalon Trust Co purchased a new position in Scotts Miracle-Gro during the first quarter valued at approximately $41,000. Finally, First Horizon Advisors Inc. increased its stake in Scotts Miracle-Gro by 835.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 907 shares of the basic materials company’s stock valued at $60,000 after buying an additional 810 shares during the period. 74.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SMG. 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. Stifel Nicolaus set a $70.00 price objective on Scotts Miracle-Gro and gave the company a “buy” rating in a research report on Thursday, November 6th. Zacks Research lowered Scotts Miracle-Gro from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 19th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Scotts Miracle-Gro in a research note on Wednesday, October 8th. Finally, UBS Group lowered their price target 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 investment 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, Scotts Miracle-Gro presently has an average rating of “Moderate Buy” and an average target price of $69.50.

Scotts Miracle-Gro Trading Down 2.9%

NYSE:SMG opened at $56.69 on Friday. The firm has a market capitalization of $3.27 billion, a PE ratio of 74.60 and a beta of 1.98. The Scotts Miracle-Gro Company has a 1 year low of $45.61 and a 1 year high of $83.55. The firm’s fifty day simple moving average is $57.06 and its 200 day simple moving average is $60.65.

Scotts Miracle-Gro (NYSE:SMG) last released its quarterly earnings results on Wednesday, November 5th. The basic materials company reported ($1.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.88) by ($0.08). The firm had revenue of $387.40 million for the quarter, compared to the consensus estimate of $396.75 million. Scotts Miracle-Gro had a net margin of 1.54% and a negative return on equity of 60.46%. The firm’s revenue was down 6.6% on a year-over-year basis. During the same quarter last year, the company earned ($2.31) earnings per share. Scotts Miracle-Gro has set its FY 2025 guidance at 4.150-4.350 EPS. As a group, 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 declared a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Friday, November 21st will be given a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Friday, November 21st. Scotts Miracle-Gro’s payout ratio is currently 109.09%.

Insider Buying and Selling

In other news, Director Hagedorn Partnership, L.P. sold 56,633 shares of the stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $63.02, for a total value of $3,569,011.66. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark J. Scheiwer acquired 1,790 shares of the stock in a transaction dated Wednesday, September 3rd. The stock was bought at an average price of $61.32 per share, for a total transaction of $109,762.80. Following the purchase, the executive vice president owned 10,130 shares of the company’s stock, valued at $621,171.60. The trade was 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 insiders.

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.