The Scotts Miracle-Gro Company (NYSE:SMG) Receives Consensus Recommendation of "Hold" from Analysts

The Scotts Miracle-Gro Company (NYSE:SMG - Get Free Report) has received a consensus rating of "Hold" from the seven analysts that are currently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $77.50.

A number of research firms recently commented on SMG. Wells Fargo & Company dropped their target price on shares of Scotts Miracle-Gro from $95.00 to $85.00 and set an "overweight" rating on the stock in a research report on Thursday, November 7th. Truist Financial decreased their target price 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. UBS Group reduced their price objective on Scotts Miracle-Gro from $90.00 to $77.00 and set a "neutral" rating for the company in a research note on Thursday, November 7th. JPMorgan Chase & Co. cut their target price on shares of Scotts Miracle-Gro from $85.00 to $80.00 and set an "overweight" rating on the stock in a report on Thursday, November 7th. Finally, Jefferies Financial Group began coverage on shares of Scotts Miracle-Gro in a research report on Monday, December 9th. They set a "hold" rating and a $72.00 price objective on the stock.

Scotts Miracle-Gro Stock Down 1.8 %

Scotts Miracle-Gro stock traded down $1.21 during mid-day trading on Thursday, hitting $67.29. The company had a trading volume of 613,805 shares, compared to its average volume of 806,422. Scotts Miracle-Gro has a 1 year low of $53.43 and a 1 year high of $93.90. The business has a fifty day moving average of $80.06 and a 200 day moving average of $73.82. The stock has a market cap of $3.86 billion, a price-to-earnings ratio of -97.52 and a beta of 1.71.

Scotts Miracle-Gro Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were issued a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 3.92%. The ex-dividend date was Friday, November 22nd. Scotts Miracle-Gro's payout ratio is -382.61%.

Insider Transactions at Scotts Miracle-Gro

In other Scotts Miracle-Gro news, major shareholder Hagedorn Partnership, L.P. sold 28,000 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $75.91, for a total value of $2,125,480.00. Following the completion of the transaction, the insider now owns 13,553,774 shares in the company, valued at approximately $1,028,866,984.34. This represents a 0.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Nathan Eric Baxter sold 11,359 shares of the business's stock in a transaction on Monday, December 9th. The stock was sold at an average price of $75.37, for a total transaction of $856,127.83. Following the sale, the chief operating officer now owns 51,631 shares in the company, valued at $3,891,428.47. The trade was a 18.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 58,227 shares of company stock worth $4,410,268 over the last ninety days. 26.46% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Scotts Miracle-Gro

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. purchased a new stake in Scotts Miracle-Gro during the 2nd quarter worth about $25,000. Global X Japan Co. Ltd. purchased a new stake in shares of Scotts Miracle-Gro during the third quarter worth about $26,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Scotts Miracle-Gro in the second quarter valued at approximately $29,000. Farther Finance Advisors LLC lifted 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 valued at $29,000 after buying an additional 269 shares during the period. Finally, Blue Trust Inc. boosted its position in Scotts Miracle-Gro by 83.6% during the third quarter. Blue Trust Inc. now owns 369 shares of the basic materials company's stock worth $32,000 after acquiring an additional 168 shares during the last quarter. 74.07% of the stock is owned by institutional investors and hedge funds.

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.