The Scotts Miracle-Gro Company (NYSE:SMG) Given Average Recommendation of “Buy” by Brokerages

Shares of The Scotts Miracle-Gro Company (NYSE:SMGGet Rating) have earned a consensus recommendation of “Buy” from the ten brokerages that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $147.33.

Several analysts have commented on SMG shares. JPMorgan Chase & Co. upgraded shares of Scotts Miracle-Gro from a “neutral” rating to an “overweight” rating and decreased their price objective for the company from $150.00 to $130.00 in a research note on Wednesday, May 4th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Scotts Miracle-Gro from a “sell” rating to a “hold” rating and set a $123.00 price objective for the company in a research note on Tuesday, April 12th. StockNews.com cut shares of Scotts Miracle-Gro from a “hold” rating to a “sell” rating in a research note on Saturday, May 21st. Truist Financial cut shares of Scotts Miracle-Gro from a “buy” rating to a “hold” rating and decreased their target price for the company from $185.00 to $85.00 in a research note on Wednesday. Finally, Barclays lowered shares of Scotts Miracle-Gro from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $150.00 to $110.00 in a report on Thursday, April 21st.

NYSE:SMG traded down $9.27 during trading hours on Wednesday, hitting $92.91. 33,036 shares of the company were exchanged, compared to its average volume of 465,946. The stock has a market capitalization of $5.15 billion, a price-to-earnings ratio of 13.01 and a beta of 1.19. Scotts Miracle-Gro has a 52-week low of $87.11 and a 52-week high of $206.99. The company has a debt-to-equity ratio of 3.44, a current ratio of 2.21 and a quick ratio of 1.13. The company’s 50 day moving average price is $105.32 and its 200-day moving average price is $131.16.

Scotts Miracle-Gro (NYSE:SMGGet Rating) last released its earnings results on Tuesday, May 3rd. The basic materials company reported $5.03 earnings per share for the quarter, topping the consensus estimate of $4.69 by $0.34. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.68 billion. Scotts Miracle-Gro had a net margin of 8.81% and a return on equity of 42.22%. Scotts Miracle-Gro’s revenue was down 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.64 EPS. On average, equities analysts predict that Scotts Miracle-Gro will post 7 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 10th. Stockholders of record on Friday, May 27th will be given a dividend of $0.66 per share. The ex-dividend date of this dividend is Thursday, May 26th. This represents a $2.64 annualized dividend and a dividend yield of 2.84%. Scotts Miracle-Gro’s dividend payout ratio is presently 37.08%.

In related news, CEO James Hagedorn sold 60,000 shares of the firm’s stock in a transaction that occurred on Friday, May 13th. The shares were sold at an average price of $97.74, for a total value of $5,864,400.00. Following the sale, the chief executive officer now owns 261,816 shares of the company’s stock, valued at $25,589,895.84. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP James D. King sold 17,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 10th. The shares were sold at an average price of $98.42, for a total transaction of $1,722,350.00. Following the completion of the sale, the executive vice president now directly owns 9,760 shares in the company, valued at approximately $960,579.20. The disclosure for this sale can be found here. Insiders have sold 79,805 shares of company stock worth $7,848,045 in the last three months. Corporate insiders own 27.31% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Marshall Wace LLP increased its stake in Scotts Miracle-Gro by 19.6% in the third quarter. Marshall Wace LLP now owns 74,273 shares of the basic materials company’s stock valued at $10,871,000 after purchasing an additional 12,189 shares during the last quarter. Tudor Investment Corp Et Al increased its stake in Scotts Miracle-Gro by 226.0% in the third quarter. Tudor Investment Corp Et Al now owns 20,256 shares of the basic materials company’s stock valued at $2,965,000 after purchasing an additional 14,043 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in Scotts Miracle-Gro by 147.1% in the fourth quarter. BNP Paribas Arbitrage SA now owns 10,245 shares of the basic materials company’s stock valued at $1,649,000 after purchasing an additional 6,099 shares during the last quarter. Commonwealth Equity Services LLC grew its position in shares of Scotts Miracle-Gro by 13.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 24,977 shares of the basic materials company’s stock worth $4,021,000 after acquiring an additional 2,942 shares during the last quarter. Finally, Hilltop Holdings Inc. purchased a new position in shares of Scotts Miracle-Gro during the fourth quarter worth approximately $439,000. 62.23% of the stock is currently owned by hedge funds and other institutional investors.

Scotts Miracle-Gro Company Profile (Get Rating)

The Scotts Miracle-Gro Company engages in the manufacture, marketing, and sale of products for lawn, garden care, and indoor and hydroponic gardening in the United States and internationally. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It provides lawn care products comprising lawn fertilizers, grass seed products, spreaders, other durable products, and outdoor cleaners, as well as lawn-related weed, pest, and disease control products; gardening and landscape products include water-soluble and continuous-release plant foods, potting mixes and garden soils, mulch and decorative groundcover products, plant-related pest and disease control products, organic garden products, and lives goods and seeding solutions.

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Analyst Recommendations for Scotts Miracle-Gro (NYSE:SMG)

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