Analysts Set Scotts Miracle-Gro Company (The) (NYSE:SMG) Price Target at $100.00

Scotts Miracle-Gro Company (The) (NYSE:SMG) has been given an average rating of “Buy” by the six brokerages that are currently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and three have assigned 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 $100.00.

A number of brokerages have issued reports on SMG. Zacks Investment Research raised Scotts Miracle-Gro Company (The) from a “sell” rating to a “hold” rating in a research note on Saturday. BidaskClub raised Scotts Miracle-Gro Company (The) from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd.

Shares of Scotts Miracle-Gro Company (NYSE SMG) traded down 1.33% during trading on Friday, reaching $95.98. The company had a trading volume of 83,972 shares. The stock’s 50-day moving average price is $91.45 and its 200-day moving average price is $91.50. The stock has a market capitalization of $5.68 billion, a PE ratio of 25.90 and a beta of 0.40. Scotts Miracle-Gro Company has a 12 month low of $74.54 and a 12 month high of $99.91.

Scotts Miracle-Gro Company (The) (NYSE:SMG) last issued its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.51 by $0.12. The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.06 billion. Scotts Miracle-Gro Company (The) had a return on equity of 36.28% and a net margin of 7.85%. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period last year, the company posted $2.16 EPS. Equities analysts forecast that Scotts Miracle-Gro Company will post $4.15 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Friday, August 25th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend is Wednesday, August 23rd. This is an increase from Scotts Miracle-Gro Company (The)’s previous quarterly dividend of $0.50. Scotts Miracle-Gro Company (The)’s dividend payout ratio is 52.49%.

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In other news, EVP Denise Stump sold 22,615 shares of the stock in a transaction on Monday, July 24th. The stock was sold at an average price of $95.05, for a total transaction of $2,149,555.75. Following the completion of the sale, the executive vice president now owns 19,444 shares in the company, valued at approximately $1,848,152.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ivan C. Smith sold 3,787 shares of the stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $87.84, for a total value of $332,650.08. Following the sale, the executive vice president now owns 18,849 shares of the company’s stock, valued at approximately $1,655,696.16. The disclosure for this sale can be found here. Insiders have sold a total of 35,779 shares of company stock valued at $3,312,980 in the last quarter. Insiders own 28.16% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Sit Investment Associates Inc. increased its stake in shares of Scotts Miracle-Gro Company (The) by 0.6% in the first quarter. Sit Investment Associates Inc. now owns 205,096 shares of the basic materials company’s stock worth $19,154,000 after buying an additional 1,291 shares during the period. Profund Advisors LLC increased its stake in shares of Scotts Miracle-Gro Company (The) by 1.8% in the first quarter. Profund Advisors LLC now owns 9,353 shares of the basic materials company’s stock worth $873,000 after buying an additional 164 shares during the period. IFC Holdings Incorporated FL increased its stake in shares of Scotts Miracle-Gro Company (The) by 1.9% in the first quarter. IFC Holdings Incorporated FL now owns 2,406 shares of the basic materials company’s stock worth $223,000 after buying an additional 44 shares during the period. Personal Capital Advisors Corp increased its stake in shares of Scotts Miracle-Gro Company (The) by 8.7% in the first quarter. Personal Capital Advisors Corp now owns 317,350 shares of the basic materials company’s stock worth $29,628,000 after buying an additional 25,425 shares during the period. Finally, Nationwide Fund Advisors increased its stake in shares of Scotts Miracle-Gro Company (The) by 8.2% in the first quarter. Nationwide Fund Advisors now owns 142,291 shares of the basic materials company’s stock worth $13,289,000 after buying an additional 10,761 shares during the period. Institutional investors own 68.04% of the company’s stock.

Scotts Miracle-Gro Company (The) Company Profile

The Scotts Miracle-Gro Company (Scotts Miracle-Gro) is a manufacturer and marketer of branded consumer lawn and garden products. The Company’s segments include Global Consumer. In North America, its brands include Scotts and Turf Builder lawn and grass seed products; Miracle-Gro, Nature’s Care, Scotts, LiquaFeed and Osmocote gardening and landscape products; and Ortho, Roundup, Home Defense and Tomcat branded insect control, weed control and rodent control products.

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