New insider activity at Scotts Miracle-Gro Company ( (SMG) ) has taken place on February 4, 2025.
Chairman & CEO James Hagedorn recently made a significant move by selling 142,733 shares of Scotts Miracle-Gro Company stock, amounting to a substantial $10,212,148. In a similar fashion, EVP & Chief of Staff Christopher Hagedorn also participated in the sell-off, parting with 3,568 shares, totaling $255,100.
Recent Updates on SMG stock
In the past 24 hours, Scotts Miracle-Gro Company has experienced significant developments, as highlighted by their recent Q1 earnings call. The company expressed cautious optimism for fiscal 2025, showcasing improvements in gross margins and substantial cost savings, despite ongoing challenges in the Hawthorne segment and restructuring costs. The U.S. Consumer segment showed an impressive 11% sales growth, driven by robust consumer engagement and retailer support, which contributed to a positive performance outlook. The company’s focus on enhancing profitability was evident with a 750 basis points improvement in gross margin rates and strategic pricing and operational efficiencies. Despite a 35% decline in Hawthorne sales, attributed to a strategic exit from low-margin third-party distribution, there was significant profitability improvement within the segment. Additionally, restructuring efforts incurred $21.7 million in nonrecurring costs. The company anticipates sustained annual sales growth through strategic initiatives, including expanding demographic reach and increasing advertising investments, with a projected gross margin improvement and EBITDA growth. These factors collectively influence the cautious yet optimistic sentiment surrounding Scotts Miracle-Gro’s future performance.
More about Scotts Miracle-Gro Company
YTD Price Performance: 7.99%
Average Trading Volume: 831,109
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $4.08B