25 High Dividend Stocks Being Targeted By Short Sellers

14. The Scotts Miracle-Gro Company (NYSE:SMG)

Short % of Float as of April 15: 7.64%

Dividend Yield as of April 28: 4.91%

The Scotts Miracle-Gro Company (NYSE:SMG) is an Ohio-based company that sells and manufactures consumer lawn, garden, and pest control products, as well as soilless indoor gardening equipment. In a recent conversation with CNBC’s Jim Cramer, Scotts Miracle-Gro CEO Jim Hagedorn discussed the company’s efforts to exit its cannabis business, indicating that the matter was now largely settled. He noted that the company had lost around $2 billion on the venture and explained that the business would be placed into a separate entity, in which Scotts Miracle-Gro would retain an equity stake, leaving the future of the investment to unfold as circumstances allow.

Earlier in April, The Scotts Miracle-Gro Company (NYSE:SMG) had announced plans to transfer its cannabis-related investments to an independent strategic partner. In the accompanying press release, management acknowledged that the broader cannabis sector had been weighed down by slow progress on federal legalization. Nevertheless, it stated that it would keep the option open to reacquire the business or its assets if future legislative changes created a more favorable environment. The stock is down by over 18% since the start of 2025.

The Scotts Miracle-Gro Company (NYSE:SMG) posted stronger-than-expected results for the first quarter of 2025, reporting an EPS of -$0.89, ahead of analysts’ expectations of -$1.23. Revenue for the quarter came in at $416.8 million, reflecting a 1.56% year-over-year increase and surpassing estimates by $24.76 million. SMG shared that it is investing an additional $40 million into the business to broaden its customer base and grow its market share, with most of the funds directed toward advertising and brand innovation.

The Scotts Miracle-Gro Company (NYSE:SMG) has also been implementing a multi-year cost reduction and business optimization plan, which has delivered $400 million in annual savings. In addition, SMG has made progress in strengthening its balance sheet, with total debt at the end of Q1 2025 down by $337 million compared to the same period last year. Currently, it pays a quarterly dividend of $0.66 per share and has a dividend yield of 4.91%, as recorded on April 28. The company has been making regular dividend payments for the past 21 years.