Brokerages Set The Scotts Miracle-Gro Company (NYSE:SMG) Price Target at $75.83

Shares of The Scotts Miracle-Gro Company (NYSE:SMG - Get Free Report) have been given an average rating of "Hold" by the seven ratings firms that are presently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $74.00.

SMG has been the subject of several research reports. Wells Fargo & Company dropped their target price on Scotts Miracle-Gro from $85.00 to $80.00 and set an "overweight" rating for the company in a research report on Tuesday, January 7th. Stifel Nicolaus upgraded shares of Scotts Miracle-Gro from a "hold" rating to a "buy" rating and dropped their price objective for the company from $78.00 to $70.00 in a report on Tuesday. Truist Financial reduced their target price on shares of Scotts Miracle-Gro from $90.00 to $70.00 and set a "hold" rating on the stock in a report on Friday, November 8th. Jefferies Financial Group assumed coverage on shares of Scotts Miracle-Gro in a research note on Monday, December 9th. They issued a "hold" rating and a $72.00 price target for the company. Finally, JPMorgan Chase & Co. reduced their price objective 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.

Scotts Miracle-Gro Trading Up 0.1 %

SMG traded up $0.09 on Tuesday, hitting $62.23. The company had a trading volume of 901,845 shares, compared to its average volume of 791,356. The company's fifty day moving average price is $66.80 and its 200 day moving average price is $73.63. Scotts Miracle-Gro has a 1 year low of $55.68 and a 1 year high of $93.90. The firm has a market cap of $3.58 billion, a P/E ratio of -129.63 and a beta of 1.79.

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Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The basic materials company reported ($0.89) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.23) by $0.34. Scotts Miracle-Gro had a negative net margin of 0.67% and a negative return on equity of 51.48%. During the same period in the prior year, the business posted ($1.45) EPS. On average, analysts predict that Scotts Miracle-Gro will post 3.42 earnings per share for the current year.

Scotts Miracle-Gro Announces Dividend

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

Insider Activity at Scotts Miracle-Gro

In other Scotts Miracle-Gro news, COO Nathan Eric Baxter sold 11,359 shares of the firm's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $75.37, for a total transaction of $856,127.83. Following the transaction, the chief operating officer now owns 51,631 shares of the company's stock, valued at approximately $3,891,428.47. This trade represents a 18.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Brian E. Sandoval sold 1,513 shares of Scotts Miracle-Gro stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $65.86, for a total value of $99,646.18. Following the sale, the director now owns 13,039 shares in the company, valued at $858,748.54. This trade represents a 10.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 171,296 shares of company stock valued at $12,235,403 over the last three months. 25.37% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Scotts Miracle-Gro

Several large investors have recently modified their holdings of SMG. Atala Financial Inc purchased a new stake in Scotts Miracle-Gro during the 4th quarter valued at approximately $25,000. SBI Securities Co. Ltd. purchased a new stake in shares of Scotts Miracle-Gro during the fourth quarter worth approximately $26,000. Farther Finance Advisors LLC raised its stake in shares of Scotts Miracle-Gro by 427.0% during the third 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 during the last quarter. Tortoise Investment Management LLC lifted its holdings in shares of Scotts Miracle-Gro by 77.3% during the fourth 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 during the period. Finally, Blue Trust Inc. grew its position in Scotts Miracle-Gro by 68.3% in the 4th quarter. Blue Trust Inc. now owns 621 shares of the basic materials company's stock valued at $41,000 after buying an additional 252 shares during the last quarter. 74.07% of the stock is owned by institutional investors and hedge funds.

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.