Scotts Miracle-Gro Co (NYSE:SMG) has been assigned an average recommendation of “Buy” from the six brokerages that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $76.40.
Several brokerages have recently issued reports on SMG. ValuEngine upgraded Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a report on Wednesday, November 7th. JPMorgan Chase & Co. upgraded Scotts Miracle-Gro from an “underweight” rating to a “neutral” rating and set a $70.00 price target for the company in a report on Thursday, January 31st. Zacks Investment Research upgraded Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a report on Wednesday, October 24th. Bank of America upgraded Scotts Miracle-Gro from an “underperform” rating to a “neutral” rating and set a $72.00 price target for the company in a report on Wednesday, October 24th. They noted that the move was a valuation call. Finally, Raymond James upgraded Scotts Miracle-Gro from a “market perform” rating to an “outperform” rating and set a $71.00 price target for the company in a report on Monday, December 17th.
In related news, major shareholder Hagedorn Partnership, L.P. sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, January 14th. The stock was sold at an average price of $68.27, for a total value of $3,413,500.00. Following the completion of the sale, the insider now directly owns 15,602,150 shares in the company, valued at approximately $1,065,158,780.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Katherine Littlefield Hagedorn sold 2,665 shares of the business’s stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $74.07, for a total value of $197,396.55. Following the completion of the sale, the director now owns 4,035 shares of the company’s stock, valued at $298,872.45. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 62,821 shares of company stock valued at $4,319,988. 30.37% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of SMG. Renaissance Technologies LLC acquired a new stake in Scotts Miracle-Gro in the 3rd quarter worth approximately $36,767,000. Deutsche Bank AG lifted its holdings in shares of Scotts Miracle-Gro by 446.9% during the third quarter. Deutsche Bank AG now owns 382,827 shares of the basic materials company’s stock worth $30,136,000 after buying an additional 312,828 shares during the last quarter. Deprince Race & Zollo Inc. acquired a new position in shares of Scotts Miracle-Gro during the third quarter worth approximately $18,377,000. ETF Managers Group LLC acquired a new position in shares of Scotts Miracle-Gro during the fourth quarter worth approximately $10,158,000. Finally, Wells Fargo & Company MN lifted its holdings in shares of Scotts Miracle-Gro by 25.3% during the third quarter. Wells Fargo & Company MN now owns 663,861 shares of the basic materials company’s stock worth $52,266,000 after buying an additional 133,968 shares during the last quarter. Hedge funds and other institutional investors own 65.92% of the company’s stock.
NYSE:SMG opened at $75.45 on Wednesday. The company has a debt-to-equity ratio of 8.63, a quick ratio of 0.56 and a current ratio of 1.81. Scotts Miracle-Gro has a fifty-two week low of $57.96 and a fifty-two week high of $93.00. The stock has a market cap of $4.17 billion, a price-to-earnings ratio of 20.34, a price-to-earnings-growth ratio of 1.86 and a beta of 0.86.
Scotts Miracle-Gro (NYSE:SMG) last released its earnings results on Wednesday, January 30th. The basic materials company reported ($1.39) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.24) by ($0.15). The business had revenue of $298.10 million for the quarter, compared to analysts’ expectations of $287.24 million. Scotts Miracle-Gro had a net margin of 0.19% and a return on equity of 47.98%. The company’s revenue was up 34.6% compared to the same quarter last year. During the same period last year, the firm earned ($1.08) EPS. As a group, equities analysts forecast that Scotts Miracle-Gro will post 4.19 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 8th. Stockholders of record on Friday, February 22nd will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Thursday, February 21st. This represents a $2.20 annualized dividend and a dividend yield of 2.92%. Scotts Miracle-Gro’s dividend payout ratio is 59.30%.
Scotts Miracle-Gro Company Profile
The Scotts Miracle-Gro Company manufactures, markets, and sells consumer lawn and garden products in the United States and internatonally. 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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