Shares of Scotts Miracle-Gro Co (NYSE:SMG) have been given an average rating of “Hold” by the seven ratings firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $98.42.
A number of brokerages have recently commented on SMG. Bank of America upgraded Scotts Miracle-Gro from a “neutral” rating to a “buy” rating and set a $108.00 target price on the stock in a research note on Friday, October 25th. ValuEngine cut Scotts Miracle-Gro from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Zacks Investment Research downgraded Scotts Miracle-Gro from a “buy” rating to a “hold” rating and set a $117.00 price target for the company. in a report on Tuesday, October 1st.
NYSE SMG traded up $1.21 on Tuesday, reaching $101.65. 299,317 shares of the company’s stock traded hands, compared to its average volume of 473,346. The firm has a market cap of $5.67 billion, a price-to-earnings ratio of 22.74, a P/E/G ratio of 2.07 and a beta of 0.78. The stock has a 50 day moving average price of $101.53 and a 200-day moving average price of $101.04. Scotts Miracle-Gro has a fifty-two week low of $57.96 and a fifty-two week high of $114.63. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.81 and a current ratio of 1.68.
Scotts Miracle-Gro (NYSE:SMG) last announced its quarterly earnings results on Wednesday, November 6th. The basic materials company reported ($0.91) earnings per share for the quarter, missing the consensus estimate of ($0.87) by ($0.04). The company had revenue of $497.70 million for the quarter, compared to analyst estimates of $451.49 million. Scotts Miracle-Gro had a return on equity of 41.87% and a net margin of 14.59%. Scotts Miracle-Gro’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.75) earnings per share. As a group, equities research analysts anticipate that Scotts Miracle-Gro will post 5.02 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend is Monday, November 25th. Scotts Miracle-Gro’s dividend payout ratio (DPR) is presently 51.90%.
In other Scotts Miracle-Gro news, EVP Denise Stump sold 2,249 shares of Scotts Miracle-Gro stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $105.92, for a total value of $238,214.08. Following the completion of the transaction, the executive vice president now owns 11,211 shares of the company’s stock, valued at $1,187,469.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Michael C. Lukemire sold 9,788 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $106.26, for a total transaction of $1,040,072.88. Following the completion of the transaction, the chief operating officer now owns 45,321 shares of the company’s stock, valued at approximately $4,815,809.46. The disclosure for this sale can be found here. Insiders have sold 14,537 shares of company stock worth $1,548,237 over the last three months. 30.37% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of the company. Metropolitan Life Insurance Co NY grew its holdings in Scotts Miracle-Gro by 5.7% in the third quarter. Metropolitan Life Insurance Co NY now owns 12,952 shares of the basic materials company’s stock valued at $1,319,000 after purchasing an additional 694 shares during the period. Man Group plc raised its stake in shares of Scotts Miracle-Gro by 188.9% during the 3rd quarter. Man Group plc now owns 73,105 shares of the basic materials company’s stock worth $7,444,000 after buying an additional 47,798 shares during the period. Squarepoint Ops LLC lifted its position in shares of Scotts Miracle-Gro by 354.9% during the 3rd quarter. Squarepoint Ops LLC now owns 53,278 shares of the basic materials company’s stock valued at $5,425,000 after buying an additional 41,565 shares in the last quarter. Voloridge Investment Management LLC lifted its position in shares of Scotts Miracle-Gro by 215.2% during the 3rd quarter. Voloridge Investment Management LLC now owns 100,847 shares of the basic materials company’s stock valued at $10,268,000 after buying an additional 68,848 shares in the last quarter. Finally, Castleark Management LLC grew its stake in Scotts Miracle-Gro by 17.4% in the 3rd quarter. Castleark Management LLC now owns 4,800 shares of the basic materials company’s stock valued at $489,000 after acquiring an additional 710 shares during the period. Hedge funds and other institutional investors own 66.82% of the company’s stock.
Scotts Miracle-Gro Company Profile
The Scotts Miracle-Gro Company manufactures, markets, and sells consumer lawn and garden products in the United States and internationally. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It offers lawn care products, such as lawn fertilizers, grass seed products, spreaders, other durable products, and outdoor cleaners, as well as lawn-related weed, pest, and disease control products.
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