Shares of The Scotts Miracle-Gro Company (NYSE: SMG – Get Rating) have received a consensus rating of “Hold” from the nine research firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $ 139.13.
SMG has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered shares of Scotts Miracle-Gro from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $ 130.00 to $ 95.00 in a research note on Thursday. Truist Financial lowered shares of Scotts Miracle-Gro from a “buy” rating to a “hold” rating and lowered their price objective for the company from $ 185.00 to $ 85.00 in a research note on Wednesday. Stifel Nicolaus lowered shares of Scotts Miracle-Gro from a “buy” rating to a “hold” rating and lowered their price objective for the company from $ 130.00 to $ 116.00 in a research note on Wednesday, May 4th. Barclays downgraded shares of Scotts Miracle-Gro from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $ 150.00 to $ 110.00 in a research report on Thursday, April 21st. Finally, StockNews.com downgraded shares of Scotts Miracle-Gro from a “hold” rating to a “sell” rating in a research report on Saturday, May 21st.
In other Scotts Miracle-Gro news, EVP James D. King sold 17,500 shares of Scotts Miracle-Gro stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $ 98.42, for a total transaction of $ 1,722,350.00. Following the transaction, the executive vice president now directly owns 9,760 shares of the company stock, valued at approximately $ 960,579.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James Hagedorn sold 60,000 shares of Scotts Miracle-Gro stock in a transaction on Friday, May 13th. The stock was sold at an average price of $ 97.74, for a total transaction of $ 5,864,400.00. Following the transaction, the chief executive officer now directly owns 261,816 shares in the company, valued at $ 25,589,895.84. The disclosure for this sale can be found here. Insiders have sold a total of 79,805 shares of company stock worth $ 7,848,045 over the last ninety days. Insiders own 27.31% of the company stock.
Large investors have recently modified their holdings of the stock. Morgan Stanley raised its stake in Scotts Miracle-Gro by 61.7% in the 2nd quarter. Morgan Stanley now owns 378,698 shares of the basic materials company stock valued at $ 72,680,000 after acquiring an additional 144,478 shares during the period. Rockefeller Capital Management LP raised its stake in Scotts Miracle-Gro by 150.8% in the 3rd quarter. Rockefeller Capital Management LP now owns 1,635 shares of the basic materials company stock valued at $ 238,000 after acquiring an additional 983 shares during the period. Trexquant Investment LP bought a new stake in Scotts Miracle-Gro in the 3rd quarter valued at about $ 287,000. HighTower Advisors LLC raised its stake in Scotts Miracle-Gro by 11.4% in the 3rd quarter. HighTower Advisors LLC now owns 17,501 shares of the basic materials company stock valued at $ 2,565,000 after acquiring an additional 1,787 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Scotts Miracle-Gro by 1.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 492,468 shares of basic materials company stock valued at $ 72,085,000 after acquiring an additional 5,843 shares during the period. 62.23% of the stock is currently owned by institutional investors.
Scotts Miracle-Gro stock opened at $ 89.88 on Wednesday. The company has a debt-to-equity ratio of 3.44, a quick ratio of 1.13 and a current ratio of 2.21. Scotts Miracle-Gro has a 52-week low of $ 87.11 and a 52-week high of $ 198.18. The firm has a 50 day moving average price of $ 103.23 and a two-hundred day moving average price of $ 129.87. The firm has a market cap of $ 4.98 billion, a price-to-earnings ratio of 12.62 and a beta of 1.19.
Scotts Miracle-Gro (NYSE: SMG – Get Rating) last released its quarterly earnings results on Tuesday, May 3rd. The basic materials company reported $ 5.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $ 4.69 by $ 0.34. Scotts Miracle-Gro had a net margin of 8.81% and a return on equity of 42.22%. The firm had revenue of $ 1.68 billion during the quarter, compared to analyst estimates of $ 1.68 billion. During the same quarter last year, the business earned $ 5.64 EPS. The company revenue was down 8.2% compared to the same quarter last year. As a group, equities research analysts predict that Scotts Miracle-Gro will post 4.75 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 10th. Shareholders of record on Friday, May 27th were issued a dividend of $ 0.66 per share. This represents a $ 2.64 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend was Thursday, May 26th. Scotts Miracle-Gro’s dividend payout ratio is 37.08%.
Scotts Miracle-Gro Company Profile: (Get Rating)
The Scotts Miracle-Gro Company engages in the manufacture, marketing, and sale of products for lawn, garden care, and indoor and hydroponic gardening in the United States and internationally. The company operates through three segments: US Consumer, Hawthorne, and Other. It provides lawn care products comprising lawn fertilizers, grass seed products, spreaders, other durable products, and outdoor cleaners, as well as lawn-related weed, pest, and disease control products; gardening and landscape products include water-soluble and continuous-release plant foods, potting mixes and garden soils, mulch and decorative groundcover products, plant-related pest and disease control products, organic garden products, and lives goods and seeding solutions.
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