Scotts Miracle-Gro Co. (NYSE:SMG) has been given a consensus recommendation of “Buy” by the six ratings firms that are currently covering the stock. One research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $85.00.
SMG has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upgraded Scotts Miracle-Gro from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $70.00 to $85.00 in a report on Thursday, August 4th. Zacks Investment Research upgraded Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a report on Saturday, August 6th. Tigress Financial restated a “buy” rating on shares of Scotts Miracle-Gro in a report on Monday, August 29th. Finally, Gabelli initiated coverage on Scotts Miracle-Gro in a report on Thursday, October 20th. They set a “buy” rating on the stock.
In related news, Director Katherine Littlefield Hagedorn sold 15,050 shares of Scotts Miracle-Gro stock in a transaction that occurred on Friday, September 2nd. The stock was sold at an average price of $82.50, for a total value of $1,241,625.00. Following the sale, the director now owns 20,207 shares of the company’s stock, valued at approximately $1,667,077.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Thomas Randal Coleman sold 789 shares of Scotts Miracle-Gro stock in a transaction that occurred on Thursday, October 6th. The shares were sold at an average price of $82.65, for a total value of $65,210.85. Following the completion of the sale, the chief financial officer now directly owns 5,112 shares in the company, valued at approximately $422,506.80. The disclosure for this sale can be found here. Insiders own 27.28% of the company’s stock.
A number of large investors have recently made changes to their positions in SMG. Creative Planning raised its stake in shares of Scotts Miracle-Gro by 41.6% in the third quarter. Creative Planning now owns 1,223 shares of the company’s stock worth $102,000 after buying an additional 359 shares in the last quarter. Glenmede Trust Co. NA raised its stake in shares of Scotts Miracle-Gro by 41.4% in the second quarter. Glenmede Trust Co. NA now owns 1,553 shares of the company’s stock worth $107,000 after buying an additional 455 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Scotts Miracle-Gro by 100.6% in the second quarter. Tower Research Capital LLC TRC now owns 1,936 shares of the company’s stock worth $135,000 after buying an additional 971 shares in the last quarter. Advisor Group Inc. purchased a new stake in shares of Scotts Miracle-Gro during the second quarter worth about $153,000. Finally, LS Investment Advisors LLC raised its stake in shares of Scotts Miracle-Gro by 71.7% in the second quarter. LS Investment Advisors LLC now owns 2,726 shares of the company’s stock worth $191,000 after buying an additional 1,138 shares in the last quarter. 70.73% of the stock is currently owned by institutional investors and hedge funds.
Shares of Scotts Miracle-Gro (NYSE:SMG) traded up 0.27% during trading on Friday, hitting $90.45. The stock had a trading volume of 147,277 shares. The company has a market capitalization of $5.48 billion, a price-to-earnings ratio of 17.52 and a beta of 0.65. Scotts Miracle-Gro has a 1-year low of $62.20 and a 1-year high of $91.66. The firm has a 50 day moving average of $87.23 and a 200 day moving average of $78.15.
Scotts Miracle-Gro (NYSE:SMG) last issued its earnings results on Thursday, November 3rd. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.28) by $0.02. Scotts Miracle-Gro had a return on equity of 33.46% and a net margin of 11.09%. The company had revenue of $402.30 million for the quarter, compared to the consensus estimate of $370 million. During the same quarter last year, the business posted ($0.12) EPS. Scotts Miracle-Gro’s quarterly revenue was up 7.2% on a year-over-year basis. Analysts expect that Scotts Miracle-Gro will post $4.22 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 9th. Stockholders of record on Friday, November 25th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend is Tuesday, November 22nd. Scotts Miracle-Gro’s dividend payout ratio is currently 38.91%.