The Scotts Miracle-Gro Company (NYSE:SMG) Receives $72.83 Average Price Target from Brokerages

Shares of The Scotts Miracle-Gro Company (NYSE:SMG) have been given a consensus rating of “Moderate Buy” by the eight ratings firms that are currently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $73.1667.

A number of analysts recently commented on SMG shares. UBS Group set a $67.00 price target on shares of Scotts Miracle-Gro in a research note on Thursday, January 29th. Weiss Ratings reissued a “hold (c-)” rating on shares of Scotts Miracle-Gro in a report on Wednesday, January 21st. JPMorgan Chase & Co. downgraded shares of Scotts Miracle-Gro from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $70.00 to $67.00 in a report on Thursday, March 26th. Stifel Nicolaus increased their price target on shares of Scotts Miracle-Gro from $70.00 to $79.00 and gave the stock a “buy” rating in a report on Tuesday, March 3rd. Finally, Wells Fargo & Company lowered their price target on shares of Scotts Miracle-Gro from $75.00 to $72.00 and set an “overweight” rating on the stock in a report on Wednesday, April 8th.

Scotts Miracle-Gro Trading Down 0.1%

Shares of SMG stock opened at $60.65 on Wednesday. The stock has a market capitalization of $3.52 billion, a P/E ratio of 41.26 and a beta of 1.94. The firm’s 50 day moving average is $65.38 and its 200 day moving average is $60.33. Scotts Miracle-Gro has a 12 month low of $45.61 and a 12 month high of $72.35.

Scotts Miracle-Gro (NYSE:SMG) last announced its quarterly earnings results on Wednesday, January 28th. The basic materials company reported ($0.77) EPS for the quarter, beating analysts’ consensus estimates of ($1.04) by $0.27. The company had revenue of $354.40 million for the quarter, compared to analysts’ expectations 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 was down 3.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.89) EPS. Scotts Miracle-Gro has set its FY 2026 guidance at 4.150-4.35 EPS. On average, equities analysts predict that Scotts Miracle-Gro will post 3.42 EPS for the current year.

Scotts Miracle-Gro Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Friday, February 20th were issued a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Friday, February 20th. Scotts Miracle-Gro’s dividend payout ratio is presently 179.59%.

Insider Transactions at Scotts Miracle-Gro

In other news, Director Hagedorn Partnership, L.P. sold 50,000 shares of the stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $66.40, for a total value of $3,320,000.00. Following the sale, the director directly owned 13,167,641 shares of the company’s stock, valued at approximately $874,331,362.40. This represents a 0.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Mark J. Scheiwer purchased 693 shares of the stock in a transaction dated Tuesday, February 24th. The stock was purchased at an average cost of $71.44 per share, for a total transaction of $49,507.92. Following the completion of the acquisition, the executive vice president owned 15,370 shares of the company’s stock, valued at approximately $1,098,032.80. This represents a 4.72% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 24.40% of the company’s stock.

Institutional Investors Weigh In On Scotts Miracle-Gro

A number of institutional investors and hedge funds have recently modified their holdings of SMG. Versor Investments LP bought a new position in shares of Scotts Miracle-Gro in the third quarter worth approximately $1,355,000. Campbell & CO Investment Adviser LLC bought a new position in shares of Scotts Miracle-Gro in the third quarter worth approximately $1,425,000. Thrivent Financial for Lutherans increased its position in shares of Scotts Miracle-Gro by 215.2% in the second quarter. Thrivent Financial for Lutherans now owns 31,853 shares of the basic materials company’s stock worth $2,101,000 after purchasing an additional 21,747 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Scotts Miracle-Gro by 21.4% in the third quarter. JPMorgan Chase & Co. now owns 155,498 shares of the basic materials company’s stock worth $8,856,000 after purchasing an additional 27,422 shares during the last quarter. Finally, SG Capital Management LLC bought a new position in shares of Scotts Miracle-Gro in the third quarter worth approximately $3,032,000. 74.07% of the stock is owned by hedge funds and other institutional investors.

About Scotts Miracle-Gro

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.