TheStreet Downgrades Scotts Miracle-Gro (NYSE:SMG) to D+

TheStreet lowered shares of Scotts Miracle-Gro (NYSE:SMGGet Rating) from a c rating to a d+ rating in a research note published on Wednesday, TheStreetRatingsTable reports.

Several other research analysts also recently weighed in on SMG. Wells Fargo & Company downgraded shares of Scotts Miracle-Gro from an overweight rating to an equal weight rating and decreased their target price for the company from $115.00 to $85.00 in a research note on Wednesday, June 22nd. UBS Group cut their price target on shares of Scotts Miracle-Gro from $92.00 to $86.00 and set a neutral rating on the stock in a report on Wednesday. Raymond James cut their price target on shares of Scotts Miracle-Gro from $110.00 to $100.00 and set a strong-buy rating on the stock in a report on Thursday. Truist Financial cut shares of Scotts Miracle-Gro from a buy rating to a hold rating and dropped their target price for the stock from $185.00 to $85.00 in a report on Wednesday, June 8th. Finally, StockNews.com lowered shares of Scotts Miracle-Gro from a hold rating to a sell rating in a research report on Saturday, May 21st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Scotts Miracle-Gro presently has an average rating of Hold and an average target price of $113.88.

Scotts Miracle-Gro Price Performance

SMG opened at $80.75 on Wednesday. The company has a quick ratio of 1.13, a current ratio of 2.42 and a debt-to-equity ratio of 7.55. Scotts Miracle-Gro has a 52-week low of $72.58 and a 52-week high of $180.43. The company has a 50 day moving average of $84.78 and a two-hundred day moving average of $109.25. The company has a market cap of $4.47 billion, a P/E ratio of -16.72 and a beta of 1.24.

Scotts Miracle-Gro (NYSE:SMGGet Rating) last released its quarterly earnings data on Wednesday, August 3rd. The basic materials company reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.28. Scotts Miracle-Gro had a negative net margin of 6.36% and a positive return on equity of 36.80%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the previous year, the firm earned $3.98 earnings per share. Scotts Miracle-Gro’s revenue for the quarter was down 26.3% on a year-over-year basis. On average, analysts expect that Scotts Miracle-Gro will post 4.1 earnings per share for the current year.

Scotts Miracle-Gro Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 9th. Investors of record on Friday, August 26th will be given a $0.66 dividend. The ex-dividend date is Thursday, August 25th. This represents a $2.64 annualized dividend and a yield of 3.27%. Scotts Miracle-Gro’s dividend payout ratio (DPR) is currently -54.66%.

Insider Activity at Scotts Miracle-Gro

In related news, CEO James Hagedorn sold 60,000 shares of Scotts Miracle-Gro stock in a transaction dated Friday, May 13th. The stock was sold at an average price of $97.74, for a total value of $5,864,400.00. Following the completion of the sale, the chief executive officer now directly owns 261,816 shares in the company, valued at $25,589,895.84. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Scotts Miracle-Gro news, CEO James Hagedorn sold 60,000 shares of the business’s stock in a transaction that occurred on Friday, May 13th. The stock was 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 in the company, valued at approximately $25,589,895.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP James D. King sold 17,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 10th. The stock was sold at an average price of $98.42, for a total value of $1,722,350.00. Following the sale, the executive vice president now owns 9,760 shares in the company, valued at approximately $960,579.20. The disclosure for this sale can be found here. 27.31% of the stock is currently owned by company insiders.

Institutional Trading of Scotts Miracle-Gro

Several institutional investors and hedge funds have recently modified their holdings of the business. Kayne Anderson Rudnick Investment Management LLC grew its stake in Scotts Miracle-Gro by 3.8% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,942,266 shares of the basic materials company’s stock valued at $795,708,000 after acquiring an additional 182,828 shares during the period. Vanguard Group Inc. raised its stake in shares of Scotts Miracle-Gro by 0.3% in the first quarter. Vanguard Group Inc. now owns 4,159,852 shares of the basic materials company’s stock valued at $511,495,000 after buying an additional 14,104 shares during the period. BlackRock Inc. grew its position in shares of Scotts Miracle-Gro by 1.2% in the first quarter. BlackRock Inc. now owns 3,546,641 shares of the basic materials company’s stock valued at $436,095,000 after purchasing an additional 42,423 shares in the last quarter. First Eagle Investment Management LLC grew its position in shares of Scotts Miracle-Gro by 49.1% in the first quarter. First Eagle Investment Management LLC now owns 1,756,020 shares of the basic materials company’s stock valued at $215,920,000 after purchasing an additional 578,316 shares in the last quarter. Finally, Earnest Partners LLC grew its position in Scotts Miracle-Gro by 1.7% during the first quarter. Earnest Partners LLC now owns 1,363,627 shares of the basic materials company’s stock worth $167,672,000 after buying an additional 22,537 shares in the last quarter. 62.23% of the stock is currently owned by 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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