The Scotts Miracle-Gro Company (NYSE:SMG) Given Consensus Rating of “Hold” by Analysts

The Scotts Miracle-Gro Company (NYSE:SMG) has been given an average rating of “Hold” by the seven analysts that are covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $77.50.

Several equities research analysts recently weighed in on SMG shares. Wells Fargo & Company reduced their target price on shares of Scotts Miracle-Gro from $95.00 to $85.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. JPMorgan Chase & Co. decreased their price objective on Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Jefferies Financial Group started coverage on Scotts Miracle-Gro in a research note on Monday, December 9th. They issued a “hold” rating and a $72.00 target price for the company. UBS Group decreased their price target on shares of Scotts Miracle-Gro from $90.00 to $77.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Finally, Truist Financial reduced their price objective on shares of Scotts Miracle-Gro from $90.00 to $70.00 and set a “hold” rating for the company in a report on Friday, November 8th.

Insiders Place Their Bets

In other Scotts Miracle-Gro news, CEO James Hagedorn sold 18,368 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $75.68, for a total value of $1,390,090.24. Following the completion of the sale, the chief executive officer now owns 87,426 shares in the company, valued at approximately $6,616,399.68. This trade represents a 17.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Hagedorn Partnership, L.P. sold 500 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $77.14, for a total transaction of $38,570.00. Following the completion of the transaction, the insider now directly owns 13,553,274 shares of the company’s stock, valued at approximately $1,045,499,556.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 58,227 shares of company stock valued at $4,410,268. 26.46% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in shares of Scotts Miracle-Gro during the 2nd quarter worth approximately $379,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of Scotts Miracle-Gro by 55.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 5,808 shares of the basic materials company’s stock worth $378,000 after purchasing an additional 2,081 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Scotts Miracle-Gro by 6.1% during the second quarter. Nisa Investment Advisors LLC now owns 29,530 shares of the basic materials company’s stock worth $1,921,000 after purchasing an additional 1,700 shares during the period. &PARTNERS bought a new stake in Scotts Miracle-Gro in the second quarter valued at about $382,000. Finally, Retirement Systems of Alabama lifted its stake in Scotts Miracle-Gro by 309.5% in the second quarter. Retirement Systems of Alabama now owns 215,717 shares of the basic materials company’s stock valued at $14,035,000 after buying an additional 163,037 shares during the period. 74.07% of the stock is currently owned by institutional investors.

Scotts Miracle-Gro Price Performance

Shares of Scotts Miracle-Gro stock opened at $68.50 on Thursday. The company has a market cap of $3.93 billion, a PE ratio of -99.28 and a beta of 1.71. The firm has a fifty day moving average price of $80.06 and a two-hundred day moving average price of $73.82. Scotts Miracle-Gro has a fifty-two week low of $53.43 and a fifty-two week high of $93.90.

Scotts Miracle-Gro Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date of this dividend was Friday, November 22nd. Scotts Miracle-Gro’s dividend payout ratio (DPR) is currently -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.