Scotts Miracle-Gro (NYSE:SMG) Given New $79.00 Price Target at Stifel Nicolaus

Scotts Miracle-Gro (NYSE:SMG) had its price target increased by Stifel Nicolaus from $70.00 to $79.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the basic materials company’s stock.

SMG has been the topic of a number of other reports. Jefferies Financial Group boosted their target price on shares of Scotts Miracle-Gro from $71.00 to $74.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Scotts Miracle-Gro in a research report on Wednesday, January 21st. Wells Fargo & Company restated an “overweight” rating on shares of Scotts Miracle-Gro in a research report on Tuesday, February 17th. Finally, UBS Group set a $67.00 price objective on Scotts Miracle-Gro in a research note on Thursday, January 29th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Scotts Miracle-Gro has a consensus rating of “Moderate Buy” and a consensus price target of $72.50.

Scotts Miracle-Gro Price Performance

Shares of SMG opened at $69.45 on Tuesday. The stock has a market capitalization of $4.03 billion, a price-to-earnings ratio of 47.24 and a beta of 1.96. Scotts Miracle-Gro has a 1 year low of $45.61 and a 1 year high of $72.35. The business’s 50 day simple moving average is $64.24 and its 200-day simple moving average is $59.85.

Scotts Miracle-Gro (NYSE:SMG) last posted its earnings results on Wednesday, January 28th. The basic materials company reported ($0.77) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.04) by $0.27. The firm had revenue of $354.40 million during the quarter, compared to analyst estimates of $353.25 million. Scotts Miracle-Gro had a net margin of 2.68% and a negative return on equity of 68.59%. Scotts Miracle-Gro’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.89) earnings per share. Scotts Miracle-Gro has set its FY 2026 guidance at 4.150-4.35 EPS. On average, sell-side analysts expect that Scotts Miracle-Gro will post 3.42 earnings per share for the current year.

Scotts Miracle-Gro Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 20th will be issued a dividend of $0.66 per share. The ex-dividend date is Friday, February 20th. This represents a $2.64 dividend on an annualized basis and a yield of 3.8%. Scotts Miracle-Gro’s payout ratio is presently 179.59%.

Insider Buying and Selling at Scotts Miracle-Gro

In other news, Director Hagedorn Partnership, L.P. sold 50,000 shares of the business’s stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $66.40, for a total transaction of $3,320,000.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark J. Scheiwer purchased 693 shares of Scotts Miracle-Gro stock in a transaction that occurred on Tuesday, February 24th. The stock was bought at an average cost of $71.44 per share, for a total transaction of $49,507.92. Following the purchase, the executive vice president directly owned 15,370 shares in the company, valued at $1,098,032.80. This trade represents a 4.72% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 24.40% of the company’s stock.

Institutional Investors Weigh In On Scotts Miracle-Gro

Several large investors have recently added to or reduced their stakes in the stock. Key Capital Management INC acquired a new stake in Scotts Miracle-Gro during the fourth quarter worth about $29,000. Covestor Ltd raised its position in shares of Scotts Miracle-Gro by 201.1% during the 3rd quarter. Covestor Ltd now owns 527 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 352 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Scotts Miracle-Gro during the 3rd quarter worth approximately $32,000. Hantz Financial Services Inc. lifted its holdings in shares of Scotts Miracle-Gro by 157.3% in the 3rd quarter. Hantz Financial Services Inc. now owns 584 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 357 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in Scotts Miracle-Gro by 156.7% during the 3rd quarter. Smartleaf Asset Management LLC now owns 634 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 387 shares during the period. 74.07% of the stock is owned by hedge funds and other 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.