The Scotts Miracle-Gro Company (NYSE:SMG) Receives $76.67 Consensus Price Target from Analysts

Shares of The Scotts Miracle-Gro Company (NYSE:SMG - Get Free Report) have earned an average recommendation of "Hold" from the seven analysts that are currently 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 1-year price target among brokerages that have issued a report on the stock in the last year is $76.67.

Several analysts have weighed in on the company. Stifel Nicolaus boosted their price target on Scotts Miracle-Gro from $75.00 to $81.00 and gave the company a "hold" rating in a research note on Monday, November 4th. Wells Fargo & Company dropped their price target on shares of Scotts Miracle-Gro from $85.00 to $80.00 and set an "overweight" rating on the stock 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 for the company in a research report on Friday, November 8th. JPMorgan Chase & Co. decreased their price target on Scotts Miracle-Gro from $85.00 to $80.00 and set an "overweight" rating on the stock in a research note on Thursday, November 7th. Finally, Jefferies Financial Group assumed coverage on shares of Scotts Miracle-Gro in a report on Monday, December 9th. They issued a "hold" rating and a $72.00 target price for the company.

Scotts Miracle-Gro Price Performance

Scotts Miracle-Gro stock traded up $2.36 during midday trading on Monday, reaching $68.74. The company's stock had a trading volume of 398,537 shares, compared to its average volume of 510,005. Scotts Miracle-Gro has a 52-week low of $53.43 and a 52-week high of $93.90. The stock has a market capitalization of $3.95 billion, a P/E ratio of -99.62 and a beta of 1.73. The stock's 50-day simple moving average is $72.39 and its 200-day simple moving average is $73.96.

Scotts Miracle-Gro Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 22nd were given a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 3.84%. The ex-dividend date was Friday, November 22nd. Scotts Miracle-Gro's dividend payout ratio (DPR) is -382.61%.

Insider Buying and Selling at Scotts Miracle-Gro

In other news, major shareholder Hagedorn Partnership, L.P. sold 500 shares of the company's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $77.14, for a total transaction of $38,570.00. Following the completion of the transaction, the insider now owns 13,553,274 shares in the company, valued at approximately $1,045,499,556.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Nathan Eric Baxter sold 11,359 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $75.37, for a total value of $856,127.83. Following the completion of the transaction, the chief operating officer now directly owns 51,631 shares of the company's stock, valued at approximately $3,891,428.47. The trade was a 18.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 58,227 shares of company stock worth $4,410,268 in the last 90 days. 25.37% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Scotts Miracle-Gro

A number of large investors have recently made changes to their positions in SMG. Scientech Research LLC acquired a new position in shares of Scotts Miracle-Gro in the second quarter worth $866,000. Deprince Race & Zollo Inc. increased its holdings in Scotts Miracle-Gro by 2.2% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 672,556 shares of the basic materials company's stock valued at $43,756,000 after buying an additional 14,533 shares during the period. AQR Capital Management LLC grew its position in Scotts Miracle-Gro by 194.2% in the second quarter. AQR Capital Management LLC now owns 761,063 shares of the basic materials company's stock valued at $49,515,000 after acquiring an additional 502,353 shares during the period. De Lisle Partners LLP acquired a new stake in shares of Scotts Miracle-Gro during the third quarter worth approximately $10,162,000. Finally, Algert Global LLC boosted its stake in Scotts Miracle-Gro by 202.2% in the third quarter. Algert Global LLC now owns 25,140 shares of the basic materials company's stock worth $2,180,000 after purchasing an additional 16,821 shares in the last quarter. Institutional investors and hedge funds own 74.07% of the company's stock.

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.