Brokerages Set The Scotts Miracle-Gro Company (NYSE:SMG) PT at $78.60

Shares of The Scotts Miracle-Gro Company (NYSE:SMG) have earned an average recommendation of “Hold” from the six research firms that are presently covering the firm, Marketbeat Ratings 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 1-year price target among brokerages that have issued ratings on the stock in the last year is $78.60.

A number of equities research analysts have recently commented on the company. UBS Group dropped their price target on Scotts Miracle-Gro from $90.00 to $77.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Stifel Nicolaus raised their price target on Scotts Miracle-Gro from $75.00 to $81.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Wells Fargo & Company dropped their target price on Scotts Miracle-Gro from $95.00 to $85.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. JPMorgan Chase & Co. dropped their target price on 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. Finally, Truist Financial dropped their target price on Scotts Miracle-Gro from $90.00 to $70.00 and set a “hold” rating on the stock in a research report on Friday, November 8th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Global X Japan Co. Ltd. bought a new position in Scotts Miracle-Gro in the third quarter valued at approximately $26,000. Farther Finance Advisors LLC boosted its stake in shares of Scotts Miracle-Gro by 427.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 332 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 269 shares during the period. Blue Trust Inc. boosted its stake in shares of Scotts Miracle-Gro by 83.6% during the 3rd quarter. Blue Trust Inc. now owns 369 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 168 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Scotts Miracle-Gro during the 2nd quarter worth approximately $25,000. Finally, Versant Capital Management Inc boosted its stake in shares of Scotts Miracle-Gro by 80.1% during 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 period. 74.07% of the stock is currently owned by institutional investors.

Scotts Miracle-Gro Price Performance

NYSE SMG opened at $77.78 on Friday. The firm has a market cap of $4.42 billion, a P/E ratio of -112.75 and a beta of 1.76. The stock’s 50-day moving average is $82.37 and its 200-day moving average is $73.01. Scotts Miracle-Gro has a one year low of $53.43 and a one year high of $93.90.

Scotts Miracle-Gro Announces Dividend

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

Scotts Miracle-Gro Company Profile

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.