The Scotts Miracle-Gro Company (NYSE:SMG) Receives Average Rating of “Hold” from Brokerages

Shares of The Scotts Miracle-Gro Company (NYSE:SMG) have been given an average recommendation of “Hold” by the six research firms that are presently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $78.60.

Several equities analysts have weighed in on the company. Wells Fargo & Company reduced their price objective on Scotts Miracle-Gro from $95.00 to $85.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Stifel Nicolaus increased their price target on Scotts Miracle-Gro from $75.00 to $81.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Truist Financial lowered their price objective on 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. UBS Group cut their target price on shares of Scotts Miracle-Gro from $90.00 to $77.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. lowered their price target on shares of 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.

Hedge Funds Weigh In On Scotts Miracle-Gro

Several hedge funds have recently bought and sold shares of SMG. Global X Japan Co. Ltd. bought a new position in Scotts Miracle-Gro in the 3rd quarter valued at $26,000. Farther Finance Advisors LLC raised its position in shares of Scotts Miracle-Gro by 427.0% in the third quarter. Farther Finance Advisors LLC now owns 332 shares of the basic materials company’s stock worth $29,000 after buying an additional 269 shares in the last quarter. Blue Trust Inc. boosted its stake 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 valued at $32,000 after buying an additional 168 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new position in Scotts Miracle-Gro in the 2nd quarter worth about $25,000. Finally, Versant Capital Management Inc increased its stake in Scotts Miracle-Gro by 80.1% in the 2nd quarter. Versant Capital Management Inc now owns 389 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 173 shares during the last quarter. Hedge funds and other institutional investors own 74.07% of the company’s stock.

Scotts Miracle-Gro Stock Up 2.7 %

SMG opened at $77.86 on Friday. The company’s 50-day moving average price is $82.15 and its two-hundred day moving average price is $72.87. Scotts Miracle-Gro has a twelve month low of $53.43 and a twelve month high of $93.90. The stock has a market cap of $4.42 billion, a price-to-earnings ratio of -112.84 and a beta of 1.76.

Scotts Miracle-Gro Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be issued a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date is Friday, November 22nd. Scotts Miracle-Gro’s payout ratio is -382.61%.

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.