Gabelli Funds LLC Acquires 10,000 Shares of The Scotts Miracle-Gro Company $SMG

Gabelli Funds LLC lifted its holdings in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 20.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,700 shares of the basic materials company’s stock after buying an additional 10,000 shares during the period. Gabelli Funds LLC’s holdings in Scotts Miracle-Gro were worth $3,343,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of SMG. Empowered Funds LLC boosted its holdings in shares of Scotts Miracle-Gro by 26.3% during the 1st quarter. Empowered Funds LLC now owns 7,524 shares of the basic materials company’s stock valued at $413,000 after acquiring an additional 1,569 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Scotts Miracle-Gro by 18.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 149,882 shares of the basic materials company’s stock valued at $8,227,000 after purchasing an additional 23,446 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Scotts Miracle-Gro by 31.0% during the second quarter. Bank of Montreal Can now owns 46,401 shares of the basic materials company’s stock valued at $3,061,000 after purchasing an additional 10,992 shares during the last quarter. First Horizon Advisors Inc. lifted its position in Scotts Miracle-Gro by 835.1% during the second quarter. First Horizon Advisors Inc. now owns 907 shares of the basic materials company’s stock valued at $60,000 after purchasing an additional 810 shares during the period. Finally, Wedbush Securities Inc. boosted its holdings in Scotts Miracle-Gro by 22.4% in the second quarter. Wedbush Securities Inc. now owns 12,014 shares of the basic materials company’s stock worth $792,000 after purchasing an additional 2,199 shares during the last quarter. Hedge funds and other institutional investors own 74.07% of the company’s stock.

Scotts Miracle-Gro Stock Performance

Shares of Scotts Miracle-Gro stock opened at $63.58 on Wednesday. The Scotts Miracle-Gro Company has a fifty-two week low of $45.61 and a fifty-two week high of $72.35. The company has a market capitalization of $3.69 billion, a P/E ratio of 43.25 and a beta of 1.96. The company has a fifty day moving average of $65.03 and a 200 day moving average of $59.97.

Scotts Miracle-Gro (NYSE:SMG) last posted its quarterly earnings results on Wednesday, January 28th. The basic materials company reported ($0.77) EPS for the quarter, beating analysts’ consensus estimates of ($1.04) by $0.27. Scotts Miracle-Gro had a negative return on equity of 68.59% and a net margin of 2.68%.The business had revenue of $354.40 million for the quarter, compared to analysts’ expectations of $353.25 million. During the same period last year, the firm earned ($0.89) earnings per share. The business’s quarterly revenue was down 3.3% on a year-over-year basis. Scotts Miracle-Gro has set its FY 2026 guidance at 4.150-4.35 EPS. Analysts forecast that The Scotts Miracle-Gro Company will post 3.42 EPS for the current year.

Scotts Miracle-Gro Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Friday, February 20th were issued a $0.66 dividend. The ex-dividend date of this dividend was Friday, February 20th. This represents a $2.64 dividend on an annualized basis and a yield of 4.2%. Scotts Miracle-Gro’s payout ratio is currently 179.59%.

Analyst Ratings Changes

SMG has been the subject of a number of research reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Scotts Miracle-Gro in a research note on Wednesday, January 21st. UBS Group set a $67.00 price objective on Scotts Miracle-Gro in a report on Thursday, January 29th. Wells Fargo & Company reissued an “overweight” rating on shares of Scotts Miracle-Gro in a report on Tuesday, February 17th. Finally, Stifel Nicolaus raised their target price on Scotts Miracle-Gro from $70.00 to $79.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.50.

Insider Buying and Selling

In other news, Director Hagedorn Partnership, L.P. sold 50,000 shares of Scotts Miracle-Gro stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $66.40, for a total transaction of $3,320,000.00. Following the sale, the director owned 13,167,641 shares in the company, valued at $874,331,362.40. This trade represents a 0.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Mark J. Scheiwer bought 693 shares of the stock in a transaction dated Tuesday, February 24th. The stock was bought at an average cost of $71.44 per share, for a total transaction of $49,507.92. Following the acquisition, the executive vice president directly owned 15,370 shares of the company’s stock, valued at approximately $1,098,032.80. This represents a 4.72% increase in their position. The disclosure for this purchase is available in the SEC filing. 24.40% of the stock is currently owned by insiders.

Scotts Miracle-Gro Profile

Scotts Miracle-Gro Company is a leading developer, manufacturer and distributor of consumer lawn and garden products. The firm serves both retail and professional customers through an array of branded offerings that include lawn fertilizers, grass seed, pest and disease control solutions, plant foods and specialty products for indoor and outdoor gardening. Its portfolio spans well-known names such as Scotts®, Miracle-Gro®, Ortho® and various hydroponic and specialty garden brands.

Headquartered in Marysville, Ohio, the company traces its roots to O.M.