Brokerages Set The Scotts Miracle-Gro Company (NYSE:SMG) PT at $69.50

The Scotts Miracle-Gro Company (NYSE:SMG) has earned a consensus rating of “Moderate Buy” from the eight analysts that are currently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $69.50.

Several brokerages have recently weighed in on SMG. Wells Fargo & Company cut their price objective on shares of Scotts Miracle-Gro from $75.00 to $67.00 and set an “overweight” rating on the stock in a report on Thursday, September 25th. Zacks Research cut shares of Scotts Miracle-Gro from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 19th. UBS Group reduced their target price on Scotts Miracle-Gro from $62.00 to $61.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. Stifel Nicolaus set a $70.00 price target on Scotts Miracle-Gro and gave the stock a “buy” rating in a research note on Thursday, November 6th. Finally, Wall Street Zen downgraded Scotts Miracle-Gro from a “buy” rating to a “hold” rating in a report on Saturday, October 25th.

Insider Activity

In related news, EVP Mark J. Scheiwer bought 1,790 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The stock was bought at an average price of $61.32 per share, with a total value of $109,762.80. Following the completion of the transaction, the executive vice president directly owned 10,130 shares of the company’s stock, valued at approximately $621,171.60. This represents a 21.46% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Hagedorn Partnership, L.P. sold 56,633 shares of the company’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $63.02, for a total value of $3,569,011.66. Following the completion of the transaction, the director owned 13,217,641 shares of the company’s stock, valued at approximately $832,975,735.82. This represents a 0.43% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 25.37% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. American National Bank & Trust acquired a new stake in Scotts Miracle-Gro in the second quarter worth approximately $28,000. Covestor Ltd boosted its stake in Scotts Miracle-Gro by 201.1% during the third quarter. Covestor Ltd now owns 527 shares of the basic materials company’s stock valued at $30,000 after buying an additional 352 shares in the last quarter. Hantz Financial Services Inc. grew its holdings in Scotts Miracle-Gro by 157.3% during the third quarter. Hantz Financial Services Inc. now owns 584 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 357 shares during the period. Smartleaf Asset Management LLC raised its position in Scotts Miracle-Gro by 156.7% in the third quarter. Smartleaf Asset Management LLC now owns 634 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 387 shares in the last quarter. Finally, Avalon Trust Co acquired a new stake in Scotts Miracle-Gro in the 1st quarter valued at about $41,000. Institutional investors own 74.07% of the company’s stock.

Scotts Miracle-Gro Trading Up 1.8%

NYSE:SMG opened at $58.01 on Friday. The firm has a market cap of $3.35 billion, a price-to-earnings ratio of 76.33 and a beta of 1.98. The company’s 50-day moving average is $57.31 and its two-hundred day moving average is $60.61. Scotts Miracle-Gro has a 12-month low of $45.61 and a 12-month high of $83.55.

Scotts Miracle-Gro (NYSE:SMG) last posted its quarterly earnings data on Wednesday, November 5th. The basic materials company reported ($1.96) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.88) by ($0.08). The firm had revenue of $387.40 million during the quarter, compared to analyst estimates of $396.75 million. Scotts Miracle-Gro had a net margin of 1.54% and a negative return on equity of 60.46%. The business’s quarterly revenue was down 6.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($2.31) EPS. Scotts Miracle-Gro has set its FY 2025 guidance at 4.150-4.350 EPS. On average, equities research analysts forecast that Scotts Miracle-Gro will post 3.42 earnings per share for the current fiscal year.

Scotts Miracle-Gro Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Friday, November 21st will be issued a dividend of $0.66 per share. The ex-dividend date is Friday, November 21st. This represents a $2.64 annualized dividend and a dividend yield of 4.6%. Scotts Miracle-Gro’s payout ratio is presently 109.09%.

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.