The Scotts Miracle-Gro Company (NYSE:SMG) Given Average Recommendation of "Moderate Buy" by Brokerages

Shares of The Scotts Miracle-Gro Company (NYSE:SMG - Get Free Report) have received a consensus rating of "Moderate Buy" from the six ratings firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $68.17.

Several brokerages have commented on SMG. Jefferies Financial Group raised shares of Scotts Miracle-Gro from a "hold" rating to a "buy" rating and cut their price target for the stock from $72.00 to $69.00 in a research report on Monday, April 7th. Truist Financial upgraded shares of Scotts Miracle-Gro from a "hold" rating to a "buy" rating and set a $70.00 price objective on the stock in a research note on Wednesday, April 2nd. Wells Fargo & Company lowered their price objective on shares of Scotts Miracle-Gro from $70.00 to $65.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. UBS Group lowered their price objective on shares of Scotts Miracle-Gro from $77.00 to $55.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Finally, Stifel Nicolaus upgraded shares of Scotts Miracle-Gro from a "hold" rating to a "buy" rating and lowered their price objective for the stock from $78.00 to $70.00 in a research note on Tuesday, March 4th.

Scotts Miracle-Gro Stock Up 1.2 %

SMG traded up $0.65 during trading on Wednesday, hitting $53.73. The company had a trading volume of 1,921,655 shares, compared to its average volume of 912,048. The firm's 50-day moving average price is $56.30 and its 200 day moving average price is $68.04. Scotts Miracle-Gro has a one year low of $46.45 and a one year high of $93.90. The company has a market capitalization of $3.09 billion, a PE ratio of -111.94 and a beta of 1.96.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The basic materials company reported ($0.89) EPS for the quarter, topping the consensus estimate of ($1.23) by $0.34. Scotts Miracle-Gro had a negative net margin of 0.67% and a negative return on equity of 51.48%. During the same quarter in the previous year, the firm posted ($1.45) EPS. Sell-side analysts forecast that Scotts Miracle-Gro will post 3.42 earnings per share for the current year.

Scotts Miracle-Gro Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be paid a dividend of $0.66 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.91%. Scotts Miracle-Gro's dividend payout ratio (DPR) is currently -550.00%.

Insider Activity at Scotts Miracle-Gro

In related news, EVP Christopher Hagedorn sold 3,568 shares of the business's stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $71.50, for a total value of $255,112.00. Following the completion of the sale, the executive vice president now directly owns 55,972 shares in the company, valued at $4,001,998. The trade was a 5.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO James Hagedorn sold 142,733 shares of the business's stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $71.56, for a total value of $10,213,973.48. Following the completion of the sale, the chief executive officer now owns 88,310 shares of the company's stock, valued at $6,319,463.60. This trade represents a 61.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 159,937 shares of company stock worth $11,379,275 in the last ninety days. 25.37% of the stock is owned by company insiders.

Hedge Funds Weigh In On Scotts Miracle-Gro

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SMG. Atala Financial Inc acquired a new position in Scotts Miracle-Gro in the 4th quarter valued at $25,000. SBI Securities Co. Ltd. acquired a new position in Scotts Miracle-Gro in the 4th quarter valued at $26,000. Spire Wealth Management raised its holdings in Scotts Miracle-Gro by 477.9% in the 1st quarter. Spire Wealth Management now owns 549 shares of the basic materials company's stock valued at $30,000 after acquiring an additional 454 shares in the last quarter. UMB Bank n.a. raised its holdings in Scotts Miracle-Gro by 479.4% in the 1st quarter. UMB Bank n.a. now owns 562 shares of the basic materials company's stock valued at $31,000 after acquiring an additional 465 shares in the last quarter. Finally, Tortoise Investment Management LLC raised its holdings in Scotts Miracle-Gro by 77.3% in the 4th quarter. Tortoise Investment Management LLC now owns 516 shares of the basic materials company's stock valued at $34,000 after acquiring an additional 225 shares in the last quarter. 74.07% of the stock is owned by institutional investors and hedge funds.

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.