UBS Group Cuts Scotts Miracle-Gro (NYSE:SMG) Price Target to $86.00

Scotts Miracle-Gro (NYSE:SMGGet Rating) had its target price cut by UBS Group from $92.00 to $86.00 in a research note released on Wednesday morning, MarketBeat Ratings reports. They currently have a neutral rating on the basic materials company’s stock.

SMG has been the topic of a number of other research reports. StockNews.com cut shares of Scotts Miracle-Gro from a hold rating to a sell rating in a research report on Saturday, May 21st. Raymond James decreased their target price on shares of Scotts Miracle-Gro from $125.00 to $110.00 in a research report on Thursday, June 9th. JPMorgan Chase & Co. lowered shares of Scotts Miracle-Gro from an overweight rating to a neutral rating and cut their price target for the stock from $130.00 to $95.00 in a research note on Thursday, June 9th. Wells Fargo & Company lowered shares of Scotts Miracle-Gro from an overweight rating to an equal weight rating and cut their price target for the stock from $115.00 to $85.00 in a research note on Wednesday, June 22nd. Finally, Truist Financial lowered shares of Scotts Miracle-Gro from a buy rating to a hold rating and cut their price target for the stock from $185.00 to $85.00 in a research note on Wednesday, June 8th. One analyst has rated the stock with a sell rating, six have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Scotts Miracle-Gro presently has an average rating of Hold and a consensus price target of $113.88.

Scotts Miracle-Gro Trading Up 0.6 %

Shares of SMG stock opened at $80.75 on Wednesday. The company’s 50-day moving average price is $84.78 and its 200-day moving average price is $109.25. The company has a current ratio of 2.42, a quick ratio of 1.13 and a debt-to-equity ratio of 7.55. The stock has a market cap of $4.47 billion, a price-to-earnings ratio of -16.72 and a beta of 1.24. Scotts Miracle-Gro has a twelve month low of $72.58 and a twelve month high of $180.43.

Scotts Miracle-Gro (NYSE:SMGGet Rating) last posted its earnings results on Wednesday, August 3rd. The basic materials company reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.28. Scotts Miracle-Gro had a negative net margin of 6.36% and a positive return on equity of 36.80%. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the prior year, the company posted $3.98 earnings per share. Scotts Miracle-Gro’s revenue for the quarter was down 26.3% compared to the same quarter last year. As a group, equities analysts predict that Scotts Miracle-Gro will post 4.1 earnings per share for the current year.

Scotts Miracle-Gro Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 9th. Investors of record on Friday, August 26th will be issued a $0.66 dividend. The ex-dividend date of this dividend is Thursday, August 25th. This represents a $2.64 annualized dividend and a yield of 3.27%. Scotts Miracle-Gro’s dividend payout ratio (DPR) is -54.66%.

Insider Activity at Scotts Miracle-Gro

In related news, EVP James D. King sold 17,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 10th. The shares were sold at an average price of $98.42, for a total value of $1,722,350.00. Following the sale, the executive vice president now owns 9,760 shares of the company’s stock, valued at $960,579.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Scotts Miracle-Gro news, EVP James D. King sold 17,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 10th. The shares were sold at an average price of $98.42, for a total transaction of $1,722,350.00. Following the sale, the executive vice president now owns 9,760 shares of the company’s stock, valued at $960,579.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO James Hagedorn sold 60,000 shares of the firm’s stock in a transaction that occurred on Friday, May 13th. The stock was sold at an average price of $97.74, for a total transaction of $5,864,400.00. Following the sale, the chief executive officer now directly owns 261,816 shares in the company, valued at approximately $25,589,895.84. The disclosure for this sale can be found here. 27.31% of the stock is owned by corporate insiders.

Institutional Trading of Scotts Miracle-Gro

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Confluence Wealth Services Inc. acquired a new position in shares of Scotts Miracle-Gro in the 4th quarter valued at $26,000. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Scotts Miracle-Gro by 84.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 212 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 97 shares during the period. Canada Pension Plan Investment Board acquired a new position in shares of Scotts Miracle-Gro in the 1st quarter valued at $27,000. Byrne Asset Management LLC increased its holdings in shares of Scotts Miracle-Gro by 78.3% in the 2nd quarter. Byrne Asset Management LLC now owns 353 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 155 shares during the period. Finally, Ellevest Inc. increased its holdings in shares of Scotts Miracle-Gro by 74.7% in the 1st quarter. Ellevest Inc. now owns 276 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 118 shares during the period. Institutional investors and hedge funds own 62.23% of the company’s stock.

Scotts Miracle-Gro Company Profile

(Get Rating)

The Scotts Miracle-Gro Company engages in the manufacture, marketing, and sale of products for lawn, garden care, and indoor and hydroponic gardening in the United States and internationally. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It provides lawn care products comprising lawn fertilizers, grass seed products, spreaders, other durable products, and outdoor cleaners, as well as lawn-related weed, pest, and disease control products; gardening and landscape products include water-soluble and continuous-release plant foods, potting mixes and garden soils, mulch and decorative groundcover products, plant-related pest and disease control products, organic garden products, and lives goods and seeding solutions.

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