The Scotts Miracle-Gro Company $SMG Shares Acquired by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp boosted its stake in The Scotts Miracle-Gro Company (NYSE:SMG) by 11.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 144,042 shares of the basic materials company’s stock after acquiring an additional 15,173 shares during the quarter. Texas Permanent School Fund Corp owned 0.25% of Scotts Miracle-Gro worth $9,501,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. American National Bank & Trust purchased a new position in Scotts Miracle-Gro during the second quarter valued at $28,000. Byrne Asset Management LLC acquired a new position in shares of Scotts Miracle-Gro during the 2nd quarter worth about $45,000. Spire Wealth Management lifted its stake in Scotts Miracle-Gro by 32.1% in the 2nd quarter. Spire Wealth Management now owns 725 shares of the basic materials company’s stock valued at $48,000 after buying an additional 176 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings 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 worth $60,000 after buying an additional 810 shares during the last quarter. Finally, Hilltop National Bank acquired a new stake in Scotts Miracle-Gro in the 2nd quarter worth about $66,000. Hedge funds and other institutional investors own 74.07% of the company’s stock.

Wall Street Analysts Forecast Growth

SMG has been the topic of several research reports. Wall Street Zen downgraded Scotts Miracle-Gro from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. UBS Group reduced 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. Wells Fargo & Company lowered their target price 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 set a $70.00 target price on shares of Scotts Miracle-Gro and gave the company a “buy” rating in a research report on Thursday, November 6th. Finally, Zacks Research lowered shares of Scotts Miracle-Gro from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 19th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $69.50.

Scotts Miracle-Gro Price Performance

NYSE:SMG opened at $58.49 on Tuesday. The company’s 50-day moving average is $55.45 and its two-hundred day moving average is $60.21. The Scotts Miracle-Gro Company has a 1-year low of $45.61 and a 1-year high of $79.11. The firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of 24.17 and a beta of 1.97.

Scotts Miracle-Gro (NYSE:SMG) last released 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 firm had revenue of $387.30 million for the quarter, compared to analysts’ expectations of $396.75 million. Scotts Miracle-Gro had a net margin of 4.26% and a negative return on equity of 67.74%. The firm’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($2.31) EPS. Scotts Miracle-Gro has set its FY 2025 guidance at 4.150-4.350 EPS. As a group, equities analysts anticipate that The Scotts Miracle-Gro Company will post 3.42 earnings per share for the current fiscal year.

Scotts Miracle-Gro Dividend Announcement

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

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.