Nordea Investment Management AB Grows Stock Position in The Scotts Miracle-Gro Company $SMG

Nordea Investment Management AB increased its holdings in The Scotts Miracle-Gro Company (NYSE:SMG) by 3.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 229,008 shares of the basic materials company’s stock after purchasing an additional 7,963 shares during the quarter. Nordea Investment Management AB’s holdings in Scotts Miracle-Gro were worth $12,621,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SMG. Captrust Financial Advisors lifted its stake in shares of Scotts Miracle-Gro by 12,034.5% in the 2nd quarter. Captrust Financial Advisors now owns 1,008,623 shares of the basic materials company’s stock valued at $66,529,000 after purchasing an additional 1,000,311 shares during the last quarter. AQR Capital Management LLC lifted its position in Scotts Miracle-Gro by 458.7% in the second quarter. AQR Capital Management LLC now owns 822,743 shares of the basic materials company’s stock valued at $54,268,000 after buying an additional 675,493 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Scotts Miracle-Gro by 163.0% during the second quarter. Ameriprise Financial Inc. now owns 899,690 shares of the basic materials company’s stock worth $59,344,000 after buying an additional 557,647 shares during the period. Brandes Investment Partners LP increased its position in shares of Scotts Miracle-Gro by 333.3% during the second quarter. Brandes Investment Partners LP now owns 603,941 shares of the basic materials company’s stock valued at $39,836,000 after acquiring an additional 464,570 shares during the last quarter. Finally, Quantinno Capital Management LP raised its stake in shares of Scotts Miracle-Gro by 1,260.1% in the 2nd quarter. Quantinno Capital Management LP now owns 489,227 shares of the basic materials company’s stock valued at $32,269,000 after acquiring an additional 453,256 shares during the period. Hedge funds and other institutional investors own 74.07% of the company’s stock.

Scotts Miracle-Gro Stock Up 0.9%

NYSE SMG opened at $64.11 on Friday. The Scotts Miracle-Gro Company has a 52 week low of $45.61 and a 52 week high of $79.11. The firm has a 50 day moving average of $57.42 and a two-hundred day moving average of $59.78. The stock has a market capitalization of $3.72 billion, a PE ratio of 26.49 and a beta of 1.95.

Scotts Miracle-Gro (NYSE:SMG) last released its quarterly earnings data on Wednesday, November 5th. The basic materials company reported ($1.96) earnings per share (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 negative return on equity of 67.74% and a net margin of 4.26%.Scotts Miracle-Gro’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same period last year, the firm posted ($2.31) earnings per share. Scotts Miracle-Gro has set its FY 2025 guidance at 4.150-4.350 EPS. On average, equities research analysts expect 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 disclosed a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Friday, November 21st were issued a $0.66 dividend. The ex-dividend date was Friday, November 21st. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.1%. Scotts Miracle-Gro’s dividend payout ratio is presently 109.09%.

Analyst Ratings Changes

SMG has been the subject of a number of research analyst reports. Zacks Research cut shares of Scotts Miracle-Gro from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 19th. UBS Group raised their price target on Scotts Miracle-Gro from $61.00 to $66.00 and gave the stock a “neutral” rating in a research report on Wednesday. Jefferies Financial Group lifted their price objective on Scotts Miracle-Gro from $71.00 to $74.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Wells Fargo & Company decreased their target price on 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. Finally, Wall Street Zen cut Scotts Miracle-Gro from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $70.33.

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.