Shares of Scotts Miracle-Gro Co. (NYSE:SMG) have earned a consensus recommendation of “Buy” from the six ratings firms that are currently covering the stock. One investment 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 ratings on the stock in the last year is $85.00.
A number of equities analysts have issued reports on SMG shares. Zacks Investment Research upgraded shares of Scotts Miracle-Gro from a “hold” rating to a “buy” rating and set a $99.00 price objective on the stock in a research report on Friday, October 28th. Gabelli started coverage on shares of Scotts Miracle-Gro in a research report on Thursday, October 20th. They issued a “buy” rating on the stock. Tigress Financial restated a “buy” rating on shares of Scotts Miracle-Gro in a research report on Monday, August 29th. Finally, JPMorgan Chase & Co. upgraded shares of Scotts Miracle-Gro from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $70.00 to $85.00 in a research report on Thursday, August 4th.
Shares of Scotts Miracle-Gro (NYSE:SMG) opened at 90.45 on Friday. The firm has a 50-day moving average of $87.41 and a 200 day moving average of $78.31. Scotts Miracle-Gro has a 1-year low of $62.20 and a 1-year high of $91.66. The stock has a market cap of $5.48 billion, a price-to-earnings ratio of 17.52 and a beta of 0.65.
Scotts Miracle-Gro (NYSE:SMG) last released its quarterly earnings data on Thursday, November 3rd. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by $0.02. Scotts Miracle-Gro had a net margin of 11.09% and a return on equity of 33.46%. The firm earned $402.30 million during the quarter, compared to analysts’ expectations of $370 million. During the same quarter in the previous year, the firm posted ($0.12) EPS. Scotts Miracle-Gro’s revenue was up 7.2% compared to the same quarter last year. Equities research analysts forecast that Scotts Miracle-Gro will post $4.22 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 9th. Investors of record on Friday, November 25th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.21%. The ex-dividend date is Tuesday, November 22nd. Scotts Miracle-Gro’s dividend payout ratio is currently 38.91%.
In related news, EVP Ivan C. Smith sold 1,394 shares of the business’s stock in a transaction dated Friday, September 2nd. The shares were sold at an average price of $82.92, for a total transaction of $115,590.48. Following the sale, the executive vice president now owns 6,711 shares of the company’s stock, valued at $556,476.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Katherine Littlefield Hagedorn sold 15,050 shares of the business’s stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of $82.50, for a total transaction of $1,241,625.00. Following the sale, the director now directly owns 20,207 shares in the company, valued at approximately $1,667,077.50. The disclosure for this sale can be found here. Corporate insiders own 27.28% of the company’s stock.
A number of large investors have recently bought and sold shares of SMG. Creative Planning raised its stake in Scotts Miracle-Gro by 41.6% in the third quarter. Creative Planning now owns 1,223 shares of the company’s stock valued at $102,000 after buying an additional 359 shares during the last quarter. Glenmede Trust Co. NA raised its stake in Scotts Miracle-Gro by 41.4% in the second quarter. Glenmede Trust Co. NA now owns 1,553 shares of the company’s stock valued at $107,000 after buying an additional 455 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in 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 valued at $135,000 after buying an additional 971 shares during the last quarter. Advisor Group Inc. acquired a new stake in Scotts Miracle-Gro during the second quarter valued at approximately $153,000. Finally, LS Investment Advisors LLC raised its stake in Scotts Miracle-Gro by 71.7% in the second quarter. LS Investment Advisors LLC now owns 2,726 shares of the company’s stock valued at $191,000 after buying an additional 1,138 shares during the last quarter. 70.73% of the stock is currently owned by institutional investors and hedge funds.