Analysts Set The Scotts Miracle-Gro Company (NYSE:SMG) Price Target at $78.60

Shares of The Scotts Miracle-Gro Company (NYSE:SMG - Get Free Report) have earned an average recommendation of "Hold" from the six brokerages that are covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $78.60.

A number of equities analysts have issued reports on SMG shares. JPMorgan Chase & Co. cut their target price on Scotts Miracle-Gro from $85.00 to $80.00 and set an "overweight" rating on the stock in a research report on Thursday, November 7th. Wells Fargo & Company cut their price target on shares of Scotts Miracle-Gro from $95.00 to $85.00 and set an "overweight" rating on the stock in a report on Thursday, November 7th. Stifel Nicolaus raised their price objective on shares of Scotts Miracle-Gro from $75.00 to $81.00 and gave the stock a "hold" rating in a report on Monday, November 4th. Truist Financial cut 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 research note on Friday, November 8th. Finally, UBS Group decreased their price target 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.

Hedge Funds Weigh In On Scotts Miracle-Gro

Several institutional investors have recently made changes to their positions in SMG. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Scotts Miracle-Gro by 1.0% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,201,683 shares of the basic materials company's stock worth $338,421,000 after acquiring an additional 49,262 shares during the period. Pacer Advisors Inc. increased its stake in shares of Scotts Miracle-Gro by 5.0% in the third quarter. Pacer Advisors Inc. now owns 3,172,800 shares of the basic materials company's stock valued at $275,082,000 after purchasing an additional 151,354 shares during the period. Earnest Partners LLC raised its holdings in shares of Scotts Miracle-Gro by 1.4% during the second quarter. Earnest Partners LLC now owns 3,155,653 shares of the basic materials company's stock valued at $205,307,000 after buying an additional 42,500 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Scotts Miracle-Gro by 24.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,726,338 shares of the basic materials company's stock valued at $203,359,000 after buying an additional 542,406 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Scotts Miracle-Gro by 1.1% during the third quarter. State Street Corp now owns 1,432,565 shares of the basic materials company's stock worth $124,203,000 after buying an additional 15,869 shares during the period. 74.07% of the stock is owned by institutional investors.

Scotts Miracle-Gro Price Performance

Scotts Miracle-Gro stock traded up $2.02 during midday trading on Friday, hitting $77.86. 636,016 shares of the stock were exchanged, compared to its average volume of 988,557. Scotts Miracle-Gro has a 1 year low of $53.43 and a 1 year high of $93.90. The firm has a market cap of $4.42 billion, a P/E ratio of -112.84 and a beta of 1.76. The company has a 50 day moving average price of $82.15 and a two-hundred day moving average price of $72.92.

Scotts Miracle-Gro Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be paid a dividend of $0.66 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $2.64 annualized dividend and a yield of 3.39%. Scotts Miracle-Gro's dividend payout ratio (DPR) is -382.61%.

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.