Scotts Miracle-Gro (NYSE:SMG) Stock Price Up 7.8% - What's Next?

Shares of The Scotts Miracle-Gro Company (NYSE:SMG - Get Free Report) rose 7.8% during mid-day trading on Tuesday . The stock traded as high as $59.88 and last traded at $60.29. Approximately 847,843 shares traded hands during trading, an increase of 8% from the average daily volume of 787,262 shares. The stock had previously closed at $55.92.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SMG. 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. Wells Fargo & Company dropped their price target on Scotts Miracle-Gro from $85.00 to $80.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 7th. Stifel Nicolaus raised Scotts Miracle-Gro from a "hold" rating to a "buy" rating and dropped their price target for the stock from $78.00 to $70.00 in a research report on Tuesday. Jefferies Financial Group began coverage on Scotts Miracle-Gro in a research report on Monday, December 9th. They issued a "hold" rating and a $72.00 price target on the stock. Finally, UBS Group dropped their price target on Scotts Miracle-Gro from $77.00 to $72.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $74.00.

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Scotts Miracle-Gro Stock Performance

The firm has a market capitalization of $3.58 billion, a P/E ratio of -129.63 and a beta of 1.79. The firm has a 50-day moving average of $66.80 and a 200-day moving average of $73.63.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The basic materials company reported ($0.89) earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the previous year, the firm posted ($1.45) EPS. On average, research analysts forecast that The Scotts Miracle-Gro Company will post 3.42 EPS for the current fiscal year.

Scotts Miracle-Gro Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 21st were given a $0.66 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.64 annualized dividend and a yield of 4.24%. Scotts Miracle-Gro's dividend payout ratio (DPR) is presently -550.00%.

Insider Activity

In other news, EVP Christopher Hagedorn sold 3,568 shares of the stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $71.50, for a total transaction of $255,112.00. Following the transaction, the executive vice president now directly owns 55,972 shares of the company's stock, valued at $4,001,998. This represents a 5.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Brian E. Sandoval sold 1,513 shares of the stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $65.86, for a total value of $99,646.18. Following the transaction, the director now directly owns 13,039 shares in the company, valued at $858,748.54. The trade was a 10.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 171,296 shares of company stock valued at $12,235,403 in the last ninety days. 25.37% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Scotts Miracle-Gro

Hedge funds and other institutional investors have recently modified their holdings of the company. Atala Financial Inc bought a new position in shares of Scotts Miracle-Gro during the 4th quarter valued at $25,000. SBI Securities Co. Ltd. purchased a new stake in shares of Scotts Miracle-Gro in the 4th quarter worth $26,000. Farther Finance Advisors LLC increased its stake in shares of Scotts Miracle-Gro by 427.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 332 shares of the basic materials company's stock worth $29,000 after purchasing an additional 269 shares in the last quarter. Tortoise Investment Management LLC increased its stake in shares of Scotts Miracle-Gro by 77.3% in the 4th quarter. Tortoise Investment Management LLC now owns 516 shares of the basic materials company's stock worth $34,000 after purchasing an additional 225 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in shares of Scotts Miracle-Gro by 68.3% in the 4th quarter. Blue Trust Inc. now owns 621 shares of the basic materials company's stock worth $41,000 after purchasing an additional 252 shares in the last quarter. 74.07% of the stock is owned by institutional investors.

Scotts Miracle-Gro Company Profile

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.