PNC Financial Services Group Inc. Lowers Position in The Scotts Miracle-Gro Company $SMG

PNC Financial Services Group Inc. decreased its holdings in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 7.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 25,936 shares of the basic materials company’s stock after selling 2,016 shares during the period. PNC Financial Services Group Inc.’s holdings in Scotts Miracle-Gro were worth $1,711,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Millennium Management LLC lifted 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 worth $78,011,000 after purchasing an additional 1,055,672 shares during the period. Cubist Systematic Strategies LLC lifted its holdings 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 worth $18,385,000 after buying an additional 296,448 shares during the period. Sound Income Strategies LLC boosted its position in Scotts Miracle-Gro by 219,313.5% during 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 in the last quarter. Vanguard Group Inc. increased its holdings 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. raised 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 worth $10,563,000 after acquiring an additional 115,308 shares in the last quarter. Institutional investors own 74.07% of the company’s stock.

Scotts Miracle-Gro Trading Down 1.4%

NYSE SMG opened at $53.15 on Thursday. The Scotts Miracle-Gro Company has a 12-month low of $45.61 and a 12-month high of $83.55. The company has a fifty day simple moving average of $56.62 and a two-hundred day simple moving average of $60.67. The stock has a market cap of $3.07 billion, a P/E ratio of 69.94 and a beta of 1.98.

Scotts Miracle-Gro (NYSE:SMG) last announced its quarterly earnings data on Wednesday, November 5th. The basic materials company reported ($1.96) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.88) by ($0.08). The company had revenue of $387.40 million for the quarter, compared to analysts’ expectations of $396.75 million. 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 6.6% compared to the same quarter last year. During the same period last year, the firm earned ($2.31) earnings per share. Scotts Miracle-Gro has set its FY 2025 guidance at 4.150-4.350 EPS. As a group, sell-side analysts forecast that The Scotts Miracle-Gro Company will post 3.42 earnings per share for the current year.

Scotts Miracle-Gro Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Friday, November 21st will be paid a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 5.0%. The ex-dividend date is Friday, November 21st. Scotts Miracle-Gro’s dividend payout ratio (DPR) is presently 109.09%.

Insider Transactions at Scotts Miracle-Gro

In other Scotts Miracle-Gro news, Director Hagedorn Partnership, L.P. sold 56,633 shares of the firm’s stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $63.02, for a total transaction of $3,569,011.66. Following the completion of the transaction, the director directly owned 13,217,641 shares of the company’s stock, valued at approximately $832,975,735.82. This trade represents a 0.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Mark J. Scheiwer acquired 1,790 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The shares were acquired 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. This trade represents a 21.46% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 25.37% of the company’s stock.

Analysts Set New Price Targets

SMG has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Scotts Miracle-Gro in a research report on Wednesday, October 8th. Stifel Nicolaus set a $70.00 price target on shares of Scotts Miracle-Gro and gave the company a “buy” rating in a report on Thursday, November 6th. Wells Fargo & Company reduced their price objective 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. Jefferies Financial Group increased their target price on shares of Scotts Miracle-Gro from $71.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Finally, Wall Street Zen lowered shares of Scotts Miracle-Gro from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $69.50.

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.