Raymond James cut shares of Scotts Miracle-Gro (NYSE:SMG) from a market perform rating to an underperform rating in a research report sent to investors on Wednesday morning, Marketbeat reports.
SMG has been the subject of several other research reports. ValuEngine cut Scotts Miracle-Gro from a hold rating to a sell rating in a research note on Wednesday, May 2nd. SunTrust Banks raised Scotts Miracle-Gro from a hold rating to a buy rating and set a $95.00 target price for the company in a research note on Tuesday, May 15th. They noted that the move was a valuation call. JPMorgan Chase & Co. cut Scotts Miracle-Gro from a neutral rating to an underweight rating and decreased their target price for the company from $95.00 to $85.00 in a research note on Friday, June 1st. Bank of America downgraded Scotts Miracle-Gro from a buy rating to an underperform rating and set a $110.00 target price for the company. in a report on Wednesday, May 2nd. Finally, Zacks Investment Research downgraded Scotts Miracle-Gro from a buy rating to a sell rating in a report on Tuesday, April 17th. Five research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $90.75.
Shares of Scotts Miracle-Gro opened at $82.00 on Wednesday, Marketbeat reports. Scotts Miracle-Gro has a fifty-two week low of $76.60 and a fifty-two week high of $110.12. The stock has a market cap of $4.41 billion, a P/E ratio of 20.81, a PEG ratio of 2.39 and a beta of 0.27. The company has a quick ratio of 1.15, a current ratio of 1.81 and a debt-to-equity ratio of 3.91.
The business also recently announced a quarterly dividend, which was paid on Friday, June 8th. Stockholders of record on Friday, May 25th were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 2.59%. The ex-dividend date was Thursday, May 24th. Scotts Miracle-Gro’s dividend payout ratio is 53.81%.
In related news, Director Brian D. Finn bought 7,500 shares of Scotts Miracle-Gro stock in a transaction dated Friday, May 4th. The stock was acquired at an average cost of $79.95 per share, with a total value of $599,625.00. Following the completion of the acquisition, the director now directly owns 21,874 shares in the company, valued at approximately $1,748,826.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Hagedorn Partnership, L.P. sold 36,667 shares of the company’s stock in a transaction on Friday, May 4th. The shares were sold at an average price of $80.75, for a total value of $2,960,860.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 182,374 shares of company stock valued at $15,166,110. 29.14% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Scotts Miracle-Gro during the first quarter valued at $472,000. Suntrust Banks Inc. lifted its stake in Scotts Miracle-Gro by 20.7% in the 1st quarter. Suntrust Banks Inc. now owns 31,328 shares of the basic materials company’s stock worth $2,685,000 after acquiring an additional 5,381 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Scotts Miracle-Gro by 0.4% in the 1st quarter. Principal Financial Group Inc. now owns 175,336 shares of the basic materials company’s stock worth $15,035,000 after acquiring an additional 640 shares in the last quarter. WINTON GROUP Ltd purchased a new stake in Scotts Miracle-Gro in the 1st quarter worth about $1,256,000. Finally, Handelsbanken Fonder AB lifted its stake in Scotts Miracle-Gro by 15.4% in the 1st quarter. Handelsbanken Fonder AB now owns 600,000 shares of the basic materials company’s stock worth $51,450,000 after acquiring an additional 80,000 shares in the last quarter. 65.99% of the stock is owned by institutional investors and hedge funds.
Scotts Miracle-Gro Company Profile
The Scotts Miracle-Gro Company manufactures, markets, and sells consumer lawn and garden products. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It offers lawn care products, including 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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