The Scotts Miracle-Gro Company $SMG Shares Sold by Burney Co.

Burney Co. reduced its position in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 10.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,873 shares of the basic materials company’s stock after selling 1,324 shares during the period. Burney Co.’s holdings in Scotts Miracle-Gro were worth $717,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Sound Income Strategies LLC boosted its stake in shares of 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 worth $10,710,000 after purchasing an additional 162,292 shares during the last quarter. Amundi boosted its position in shares of Scotts Miracle-Gro by 519.9% in the first quarter. Amundi now owns 58,000 shares of the basic materials company’s stock worth $3,083,000 after acquiring an additional 48,643 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Scotts Miracle-Gro in the second quarter worth approximately $901,000. Nuveen LLC acquired a new stake in shares of Scotts Miracle-Gro in the first quarter worth approximately $5,475,000. Finally, Pallas Capital Advisors LLC acquired a new stake in shares of Scotts Miracle-Gro in the second quarter worth approximately $287,000. 74.07% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Scotts Miracle-Gro news, EVP Mark J. Scheiwer acquired 1,790 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The stock was purchased at an average price of $61.32 per share, with a total value of $109,762.80. Following the completion of the acquisition, the executive vice president directly owned 10,130 shares in the company, valued at $621,171.60. This trade represents a 21.46% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Hagedorn Partnership, L.P. sold 56,633 shares of Scotts Miracle-Gro stock in a transaction on 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 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 represents a 0.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 25.37% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Zacks Research lowered shares of Scotts Miracle-Gro from a “strong-buy” rating to a “hold” rating in a report on Friday, September 19th. UBS Group cut 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. Jefferies Financial Group raised their price target on shares of Scotts Miracle-Gro from $71.00 to $74.00 and gave the company a “buy” rating in a report on Wednesday. Stifel Nicolaus cut their price target on shares of Scotts Miracle-Gro from $71.00 to $70.00 and set a “hold” rating on the stock in a report on Monday, August 4th. Finally, Wells Fargo & Company cut their price target on shares of Scotts Miracle-Gro from $75.00 to $67.00 and set an “overweight” rating on the stock in a report on Thursday, September 25th. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Scotts Miracle-Gro currently has a consensus rating of “Moderate Buy” and an average target price of $69.67.

Scotts Miracle-Gro Stock Up 2.7%

SMG opened at $55.92 on Thursday. The firm has a market capitalization of $3.23 billion, a P/E ratio of 73.58 and a beta of 1.96. The firm’s 50 day moving average is $57.64 and its 200-day moving average is $60.44. The Scotts Miracle-Gro Company has a 52-week low of $45.61 and a 52-week high of $85.18.

Scotts Miracle-Gro (NYSE:SMG) last issued its quarterly earnings results on Wednesday, November 5th. The basic materials company reported ($1.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.88) by ($0.08). The company had revenue of $387.40 million during the quarter, compared to the consensus estimate of $396.75 million. Scotts Miracle-Gro had a negative return on equity of 60.46% and a net margin of 1.54%.The firm’s quarterly revenue was down 6.6% on a year-over-year basis. During the same quarter last year, the firm posted ($2.31) EPS. Scotts Miracle-Gro has set its FY 2025 guidance at 4.150-4.350 EPS. Equities analysts expect that The Scotts Miracle-Gro Company will post 3.42 earnings per share for the current fiscal year.

About Scotts Miracle-Gro

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.