The Scotts Miracle-Gro Company (NYSE:SMG) Receives $71.17 Average Target Price from Brokerages

Shares of The Scotts Miracle-Gro Company (NYSE:SMG) have been assigned a consensus rating of “Moderate Buy” from the seven brokerages that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $71.1667.

A number of brokerages have recently issued reports on SMG. UBS Group set a $68.00 price target on shares of Scotts Miracle-Gro and gave the stock a “neutral” rating in a research report on Thursday, July 31st. Zacks Research raised Scotts Miracle-Gro from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 21st. Wall Street Zen raised Scotts Miracle-Gro from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. Truist Financial set a $80.00 price objective on shares of Scotts Miracle-Gro and gave the stock a “buy” rating in a research report on Monday, July 14th. Finally, Stifel Nicolaus cut their target price on shares of Scotts Miracle-Gro from $71.00 to $70.00 and set a “hold” rating on the stock in a research note on Monday, August 4th.

Insider Activity at Scotts Miracle-Gro

In other Scotts Miracle-Gro news, Director Hagedorn Partnership, L.P. sold 70,000 shares of the business’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $62.28, for a total transaction of $4,359,600.00. Following the completion of the sale, the director directly owned 13,274,274 shares of the company’s stock, valued at approximately $826,721,784.72. The trade was a 0.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 25.37% of the stock is currently owned by insiders.

Institutional Trading of Scotts Miracle-Gro

A number of institutional investors and hedge funds have recently modified their holdings of the business. Millennium Management LLC boosted its stake in Scotts Miracle-Gro by 288.8% during the first quarter. Millennium Management LLC now owns 1,421,220 shares of the basic materials company’s stock valued at $78,011,000 after buying an additional 1,055,672 shares during the period. Captrust Financial Advisors grew its holdings in shares of Scotts Miracle-Gro by 12,034.5% during the second quarter. Captrust Financial Advisors now owns 1,008,623 shares of the basic materials company’s stock worth $66,529,000 after purchasing an additional 1,000,311 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Scotts Miracle-Gro in the fourth quarter worth approximately $53,453,000. AQR Capital Management LLC raised its stake in Scotts Miracle-Gro by 458.7% in the second quarter. AQR Capital Management LLC now owns 822,743 shares of the basic materials company’s stock valued at $54,268,000 after purchasing an additional 675,493 shares in the last quarter. Finally, Alyeska Investment Group L.P. bought a new stake in Scotts Miracle-Gro during the fourth quarter valued at approximately $39,434,000. 74.07% of the stock is owned by hedge funds and other institutional investors.

Scotts Miracle-Gro Price Performance

SMG stock opened at $61.23 on Tuesday. The stock has a market cap of $3.54 billion, a price-to-earnings ratio of 80.56 and a beta of 1.98. The company has a 50 day simple moving average of $64.83 and a 200 day simple moving average of $60.40. Scotts Miracle-Gro has a 1 year low of $45.61 and a 1 year high of $93.90.

Scotts Miracle-Gro (NYSE:SMG) last released its quarterly earnings results on Wednesday, July 30th. The basic materials company reported $2.59 earnings per share for the quarter, topping the consensus estimate of $2.19 by $0.40. Scotts Miracle-Gro had a negative return on equity of 60.46% and a net margin of 1.54%.The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the previous year, the business posted $2.31 earnings per share. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. Scotts Miracle-Gro has set its FY 2025 guidance at 3.500- EPS. On average, equities research analysts anticipate that Scotts Miracle-Gro will post 3.42 EPS for the current fiscal year.

Scotts Miracle-Gro Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 22nd will be issued a dividend of $0.66 per share. The ex-dividend date is Friday, August 22nd. This represents a $2.64 annualized dividend and a yield of 4.3%. Scotts Miracle-Gro’s dividend payout ratio is presently 347.37%.

Scotts Miracle-Gro Company Profile

The Scotts Miracle-Gro Company, together with its subsidiaries, manufactures, markets, and sells products for lawn, garden care, and indoor and hydroponic gardening in the United States and internationally. It operates through three segments: U.S. Consumer, Hawthorne, and Other. The company provides lawn care products, comprising lawn fertilizers, grass seed products, spreaders, and other durable products, as well as lawn-related weed, pest, and disease control products; and gardening and landscape products, which include water-soluble and continuous-release plant foods, potting mixes, garden soils, mulches and ground cover products, plant-related pest and disease control products, organic garden products, and live goods and seeding solutions.