Scotts Miracle-Gro (NYSE:SMG) Downgraded by JPMorgan Chase & Co. to “Neutral”

JPMorgan Chase & Co. downgraded shares of Scotts Miracle-Gro (NYSE:SMG) from an overweight rating to a neutral rating in a research report report published on Thursday morning, MarketBeat.com reports. They currently have $67.00 price target on the basic materials company’s stock, down from their previous price target of $70.00.

Several other equities research analysts have also issued reports on the company. Stifel Nicolaus upped their price target on Scotts Miracle-Gro from $70.00 to $79.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Scotts Miracle-Gro in a research note on Wednesday, January 21st. UBS Group set a $67.00 target price on shares of Scotts Miracle-Gro in a report on Thursday, January 29th. Finally, Wells Fargo & Company restated an “overweight” rating on shares of Scotts Miracle-Gro in a research report on Tuesday, February 17th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Scotts Miracle-Gro has a consensus rating of “Moderate Buy” and a consensus target price of $72.83.

Scotts Miracle-Gro Stock Performance

Shares of SMG stock opened at $62.11 on Thursday. The stock has a market capitalization of $3.60 billion, a price-to-earnings ratio of 42.25 and a beta of 1.96. Scotts Miracle-Gro has a one year low of $45.61 and a one year high of $72.35. The company’s 50-day simple moving average is $65.64 and its 200-day simple moving average is $60.15.

Scotts Miracle-Gro (NYSE:SMG) last announced its quarterly earnings data on Wednesday, January 28th. The basic materials company reported ($0.77) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.04) by $0.27. Scotts Miracle-Gro had a negative return on equity of 68.59% and a net margin of 2.68%.The firm had revenue of $354.40 million for the quarter, compared to analysts’ expectations of $353.25 million. Scotts Miracle-Gro’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.89) earnings per share. Scotts Miracle-Gro has set its FY 2026 guidance at 4.150-4.35 EPS. As a group, research analysts forecast that Scotts Miracle-Gro will post 3.42 EPS for the current year.

Scotts Miracle-Gro Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Friday, February 20th were given a dividend of $0.66 per share. The ex-dividend date was Friday, February 20th. This represents a $2.64 annualized dividend and a dividend yield of 4.3%. Scotts Miracle-Gro’s payout ratio is currently 179.59%.

Insider Buying and Selling

In other Scotts Miracle-Gro news, EVP Mark J. Scheiwer purchased 693 shares of Scotts Miracle-Gro stock in a transaction on Tuesday, February 24th. The stock was bought at an average price of $71.44 per share, for a total transaction of $49,507.92. Following the transaction, the executive vice president owned 15,370 shares of the company’s stock, valued at $1,098,032.80. The trade was a 4.72% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Hagedorn Partnership, L.P. sold 50,000 shares of the stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $66.40, for a total value of $3,320,000.00. Following the completion of the transaction, the director directly owned 13,167,641 shares of the company’s stock, valued at approximately $874,331,362.40. The trade was a 0.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 24.40% of the company’s stock.

Institutional Investors Weigh In On Scotts Miracle-Gro

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Versor Investments LP bought a new position in Scotts Miracle-Gro during the 3rd quarter valued at $1,355,000. Campbell & CO Investment Adviser LLC acquired a new position in shares of Scotts Miracle-Gro during the 3rd quarter valued at $1,425,000. Thrivent Financial for Lutherans raised its stake in shares of Scotts Miracle-Gro by 215.2% in the 2nd quarter. Thrivent Financial for Lutherans now owns 31,853 shares of the basic materials company’s stock worth $2,101,000 after buying an additional 21,747 shares in the last quarter. Brandes Investment Partners LP lifted its holdings in shares of Scotts Miracle-Gro by 333.3% in the second quarter. Brandes Investment Partners LP now owns 603,941 shares of the basic materials company’s stock valued at $39,836,000 after buying an additional 464,570 shares during the period. Finally, SG Capital Management LLC acquired a new stake in shares of Scotts Miracle-Gro in the third quarter valued at $3,032,000. 74.07% of the stock is currently owned by institutional investors.

Scotts Miracle-Gro Company Profile

Scotts Miracle-Gro Company is a leading developer, manufacturer and distributor of consumer lawn and garden products. The firm serves both retail and professional customers through an array of branded offerings that include lawn fertilizers, grass seed, pest and disease control solutions, plant foods and specialty products for indoor and outdoor gardening. Its portfolio spans well-known names such as Scotts®, Miracle-Gro®, Ortho® and various hydroponic and specialty garden brands.

Headquartered in Marysville, Ohio, the company traces its roots to O.M.