The Scotts Miracle-Gro Company (NYSE:SMG) Receives $75.83 Average Target Price from Analysts

Shares of The Scotts Miracle-Gro Company (NYSE:SMG) have been given a consensus recommendation of “Hold” by the seven ratings firms that are presently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $75.83.

Several equities research analysts have commented on the stock. Jefferies Financial Group started coverage on shares of Scotts Miracle-Gro in a research note on Monday, December 9th. They issued a “hold” rating and a $72.00 target price for the company. Stifel Nicolaus raised their price objective on Scotts Miracle-Gro from $75.00 to $81.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Wells Fargo & Company decreased their target price on Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Truist Financial dropped their price target on Scotts Miracle-Gro from $90.00 to $70.00 and set a “hold” rating on the stock in a research report on Friday, November 8th. Finally, UBS Group decreased their price objective on Scotts Miracle-Gro from $77.00 to $72.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th.

Scotts Miracle-Gro Stock Up 1.7 %

SMG stock opened at $67.58 on Friday. Scotts Miracle-Gro has a twelve month low of $54.74 and a twelve month high of $93.90. The company has a market cap of $3.88 billion, a P/E ratio of -140.79 and a beta of 1.74. The business’s fifty day moving average is $70.01 and its 200-day moving average is $74.78.

Scotts Miracle-Gro (NYSE:SMG) last issued its earnings results on Wednesday, January 29th. The basic materials company reported ($0.89) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.23) by $0.34. Scotts Miracle-Gro had a negative return on equity of 51.48% and a negative net margin of 0.67%. During the same quarter in the previous year, the company earned ($1.45) EPS. Research analysts anticipate that Scotts Miracle-Gro will post 3.4 earnings per share for the current fiscal year.

Scotts Miracle-Gro Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be paid a dividend of $0.66 per share. The ex-dividend date is Friday, February 21st. This represents a $2.64 annualized dividend and a dividend yield of 3.91%. Scotts Miracle-Gro’s dividend payout ratio is currently -549.99%.

Insider Transactions at Scotts Miracle-Gro

In other Scotts Miracle-Gro news, major shareholder Hagedorn Partnership, L.P. sold 500 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $77.14, for a total transaction of $38,570.00. Following the transaction, the insider now owns 13,553,274 shares of the company’s stock, valued at $1,045,499,556.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Christopher Hagedorn sold 3,568 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $71.50, for a total value of $255,112.00. Following the completion of the sale, the executive vice president now directly owns 55,972 shares of the company’s stock, valued at approximately $4,001,998. The trade was a 5.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 216,651 shares of company stock valued at $15,689,897 over the last 90 days. 25.37% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Scotts Miracle-Gro

Institutional investors and hedge funds have recently modified their holdings of the company. Atala Financial Inc acquired a new position in Scotts Miracle-Gro during the fourth quarter worth approximately $25,000. Global X Japan Co. Ltd. acquired a new stake in Scotts Miracle-Gro during the 3rd quarter valued at $26,000. SBI Securities Co. Ltd. bought a new position in Scotts Miracle-Gro during the fourth quarter worth $26,000. Farther Finance Advisors LLC increased its holdings in shares of Scotts Miracle-Gro by 427.0% in the third quarter. Farther Finance Advisors LLC now owns 332 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 269 shares during the last quarter. Finally, Blue Trust Inc. raised its position in shares of Scotts Miracle-Gro by 83.6% in the third quarter. Blue Trust Inc. now owns 369 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 168 shares during the period. 74.07% of the stock is owned by institutional investors.

About Scotts Miracle-Gro

The Scotts Miracle-Gro Company, together with its subsidiaries, manufactures, markets, and sells products for lawn, garden care, and indoor and hydroponic gardening in the United States and internationally. It operates through three segments: U.S. Consumer, Hawthorne, and Other. The company provides lawn care products, comprising lawn fertilizers, grass seed products, spreaders, and other durable products, as well as lawn-related weed, pest, and disease control products; and gardening and landscape products, which include water-soluble and continuous-release plant foods, potting mixes, garden soils, mulches and ground cover products, plant-related pest and disease control products, organic garden products, and live goods and seeding solutions.