Rehmann Capital Advisory Group Invests $254,000 in The Scotts Miracle-Gro Company $SMG

Rehmann Capital Advisory Group bought a new stake in The Scotts Miracle-Gro Company (NYSE:SMG) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 3,855 shares of the basic materials company’s stock, valued at approximately $254,000.

Several other hedge funds have also recently made changes to their positions in SMG. Millennium Management LLC increased its position in shares of Scotts Miracle-Gro by 288.8% in the 1st quarter. Millennium Management LLC now owns 1,421,220 shares of the basic materials company’s stock valued at $78,011,000 after acquiring an additional 1,055,672 shares during the period. Cubist Systematic Strategies LLC increased its position in shares of Scotts Miracle-Gro by 770.3% in the 1st quarter. Cubist Systematic Strategies LLC now owns 334,934 shares of the basic materials company’s stock valued at $18,385,000 after acquiring 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% in the 2nd quarter. Sound Income Strategies LLC now owns 162,366 shares of the basic materials company’s stock valued at $10,710,000 after acquiring an additional 162,292 shares during the period. Vanguard Group Inc. increased its position in shares of 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 acquiring an additional 118,729 shares during the period. Finally, Citigroup Inc. increased its position in shares of 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 acquiring an additional 115,308 shares during the period. 74.07% of the stock is owned by institutional investors and hedge funds.

Scotts Miracle-Gro Stock Performance

NYSE:SMG opened at $55.45 on Friday. The Scotts Miracle-Gro Company has a one year low of $45.61 and a one year high of $93.90. The firm has a market cap of $3.20 billion, a price-to-earnings ratio of 72.95 and a beta of 1.96. The firm’s fifty day moving average is $58.85 and its two-hundred day moving average is $60.13.

Scotts Miracle-Gro (NYSE:SMG) last posted 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 business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period in the prior year, the company posted $2.31 EPS. The company’s revenue for the quarter 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, equities research analysts predict that The Scotts Miracle-Gro Company will post 3.42 earnings per share for the current fiscal year.

Scotts Miracle-Gro Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 22nd were paid a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend was Friday, August 22nd. Scotts Miracle-Gro’s dividend payout ratio is presently 347.37%.

Insider Activity

In other news, EVP Mark J. Scheiwer bought 1,790 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were acquired at an average cost of $61.32 per share, with a total value of $109,762.80. Following the purchase, the executive vice president directly owned 10,130 shares in the company, valued at $621,171.60. The trade was a 21.46% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Hagedorn Partnership, L.P. sold 56,633 shares of the stock in a transaction dated 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 sale, the director directly owned 13,217,641 shares in the company, valued at approximately $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. Corporate insiders own 25.37% of the company’s stock.

Analyst Upgrades and Downgrades

SMG has been the topic of several research reports. 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. Weiss Ratings reissued a “hold (c-)” rating on shares of Scotts Miracle-Gro in a research report on Friday. UBS Group lowered their price target on shares of Scotts Miracle-Gro from $68.00 to $62.00 and set a “neutral” rating on the stock in a report on Thursday, October 2nd. Zacks Research lowered shares of Scotts Miracle-Gro from a “strong-buy” rating to a “hold” rating in a report on Friday, September 19th. Finally, Wall Street Zen lowered shares of Scotts Miracle-Gro from a “buy” rating to a “hold” rating in a report on Saturday. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Scotts Miracle-Gro presently has an average rating of “Moderate Buy” and a consensus price target of $69.17.

Scotts Miracle-Gro 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.