The Scotts Miracle-Gro Company $SMG Stock Position Reduced by Lorne Steinberg Wealth Management Inc.

Lorne Steinberg Wealth Management Inc. cut its stake in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 3.2% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 34,115 shares of the basic materials company’s stock after selling 1,135 shares during the period. Lorne Steinberg Wealth Management Inc. owned about 0.06% of Scotts Miracle-Gro worth $2,250,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SMG. Millennium Management LLC grew its position in Scotts Miracle-Gro by 288.8% during 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 in the last quarter. Cubist Systematic Strategies LLC grew its position in Scotts Miracle-Gro by 770.3% during the first quarter. Cubist Systematic Strategies LLC now owns 334,934 shares of the basic materials company’s stock valued at $18,385,000 after purchasing an additional 296,448 shares in the last quarter. Sound Income Strategies LLC grew its position in Scotts Miracle-Gro by 219,313.5% during the second quarter. Sound Income Strategies LLC now owns 162,366 shares of the basic materials company’s stock valued at $10,710,000 after purchasing an additional 162,292 shares in the last quarter. Vanguard Group Inc. lifted its stake in Scotts Miracle-Gro by 2.6% in the first 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 last quarter. Finally, Citigroup Inc. lifted its stake in Scotts Miracle-Gro by 149.5% in the first 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 last quarter. 74.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on SMG shares. Wall Street Zen upgraded shares of Scotts Miracle-Gro from a “hold” rating to a “buy” rating in a research note on Saturday, September 13th. Stifel Nicolaus reduced their target price on shares of Scotts Miracle-Gro from $71.00 to $70.00 and set a “hold” rating for the company in a research note on Monday, August 4th. Wells Fargo & Company reduced their target price on shares of Scotts Miracle-Gro from $75.00 to $67.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. Zacks Research cut shares of Scotts Miracle-Gro from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 19th. Finally, Jefferies Financial Group set a $71.00 target price on shares of Scotts Miracle-Gro in a research note on Friday, September 26th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Scotts Miracle-Gro presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.17.

Insider Buying and Selling at Scotts Miracle-Gro

In related news, Director Hagedorn Partnership, L.P. sold 70,000 shares of the company’s stock in a transaction on Monday, August 4th. The shares were sold at an average price of $62.28, for a total transaction of $4,359,600.00. Following the completion of the transaction, the director directly owned 13,274,274 shares in the company, valued at $826,721,784.72. This represents a 0.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Mark J. Scheiwer bought 1,790 shares of the business’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were bought at an average price of $61.32 per share, with a total value of $109,762.80. Following the completion of the purchase, the executive vice president owned 10,130 shares in the company, valued at approximately $621,171.60. The trade was 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 corporate insiders.

Scotts Miracle-Gro Trading Up 0.6%

NYSE SMG opened at $54.26 on Monday. The company has a fifty day simple moving average of $59.53 and a 200 day simple moving average of $60.12. The company has a market cap of $3.13 billion, a P/E ratio of 71.40 and a beta of 1.96. The Scotts Miracle-Gro Company has a 1 year low of $45.61 and a 1 year high of $93.90.

Scotts Miracle-Gro (NYSE:SMG) last posted its quarterly earnings data 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. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.23 billion. Scotts Miracle-Gro had a net margin of 1.54% and a negative return on equity of 60.46%. Scotts Miracle-Gro’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.31 EPS. Scotts Miracle-Gro has set its FY 2025 guidance at 3.500- EPS. Equities research analysts forecast that The Scotts Miracle-Gro Company will post 3.42 EPS for the current fiscal year.

Scotts Miracle-Gro Announces Dividend

The business 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. This represents a $2.64 annualized dividend and a yield of 4.9%. The ex-dividend date was Friday, August 22nd. Scotts Miracle-Gro’s dividend payout ratio is presently 347.37%.

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.