Analysts Set The Scotts Miracle-Gro Company (NYSE:SMG) Price Target at $76.67

Shares of The Scotts Miracle-Gro Company (NYSE:SMG) have been assigned an average rating of “Hold” from the seven ratings firms that are currently covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $76.67.

A number of equities research analysts have issued reports on the stock. Jefferies Financial Group initiated coverage on shares of Scotts Miracle-Gro in a report on Monday, December 9th. They set a “hold” rating and a $72.00 price objective for the company. JPMorgan Chase & Co. cut their target price on shares of Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Stifel Nicolaus boosted their price target on shares of Scotts Miracle-Gro from $75.00 to $81.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Truist Financial cut their price objective on Scotts Miracle-Gro from $90.00 to $70.00 and set a “hold” rating for the company in a research report on Friday, November 8th. Finally, Wells Fargo & Company decreased their target price on Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th.

Insider Buying and Selling

In related news, COO Nathan Eric Baxter sold 11,359 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $75.37, for a total value of $856,127.83. Following the completion of the sale, the chief operating officer now directly owns 51,631 shares in the company, valued at $3,891,428.47. This trade represents a 18.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James Hagedorn sold 18,368 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $75.68, for a total transaction of $1,390,090.24. Following the transaction, the chief executive officer now owns 87,426 shares in the company, valued at $6,616,399.68. This trade represents a 17.36 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 58,227 shares of company stock worth $4,410,268. Corporate insiders own 25.37% of the company’s stock.

Institutional Trading of Scotts Miracle-Gro

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SMG. AQR Capital Management LLC boosted its position in shares of Scotts Miracle-Gro by 194.2% during the second quarter. AQR Capital Management LLC now owns 761,063 shares of the basic materials company’s stock valued at $49,515,000 after buying an additional 502,353 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in shares of Scotts Miracle-Gro by 1,033.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 364,045 shares of the basic materials company’s stock worth $31,563,000 after acquiring an additional 331,925 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in Scotts Miracle-Gro by 8,330.2% during the 3rd quarter. International Assets Investment Management LLC now owns 281,485 shares of the basic materials company’s stock valued at $24,405,000 after acquiring an additional 278,146 shares during the period. BNP Paribas Financial Markets grew its position in Scotts Miracle-Gro by 228.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 252,798 shares of the basic materials company’s stock valued at $21,918,000 after acquiring an additional 175,719 shares during the last quarter. Finally, Pacer Advisors Inc. increased its stake in Scotts Miracle-Gro by 5.0% in the third quarter. Pacer Advisors Inc. now owns 3,172,800 shares of the basic materials company’s stock worth $275,082,000 after purchasing an additional 151,354 shares during the period. 74.07% of the stock is owned by hedge funds and other institutional investors.

Scotts Miracle-Gro Trading Up 3.4 %

Shares of SMG opened at $70.62 on Monday. The business’s 50 day moving average is $71.88 and its 200 day moving average is $73.98. Scotts Miracle-Gro has a 12-month low of $53.43 and a 12-month high of $93.90. The company has a market capitalization of $4.06 billion, a PE ratio of -102.35 and a beta of 1.73.

Scotts Miracle-Gro Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were given a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 3.74%. The ex-dividend date was Friday, November 22nd. Scotts Miracle-Gro’s dividend payout ratio is -382.61%.

About Scotts Miracle-Gro

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.