Shares of The Scotts Miracle-Gro Company (NYSE:SMG – Get Rating) have earned an average rating of “Buy” from the ten ratings firms that are covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $160.11.
A number of equities analysts have recently commented on the company. Barclays downgraded Scotts Miracle-Gro from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $150.00 to $110.00 in a research report on Thursday, April 21st. StockNews.com raised Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a research note on Friday. Wells Fargo & Company cut their target price on Scotts Miracle-Gro from $155.00 to $145.00 in a research note on Wednesday, May 4th. JPMorgan Chase & Co. raised Scotts Miracle-Gro from a “neutral” rating to an “overweight” rating and cut their target price for the stock from $150.00 to $130.00 in a research note on Wednesday, May 4th. They noted that the move was a valuation call. Finally, Stifel Nicolaus downgraded Scotts Miracle-Gro from a “buy” rating to a “hold” rating and cut their target price for the stock from $130.00 to $116.00 in a research note on Wednesday, May 4th.
Shares of Scotts Miracle-Gro stock traded up $2.52 on Friday, reaching $97.64. 589,196 shares of the company were exchanged, compared to its average volume of 549,847. Scotts Miracle-Gro has a 1-year low of $90.38 and a 1-year high of $231.72. The company has a market cap of $5.43 billion, a P/E ratio of 13.71 and a beta of 1.18. The company has a debt-to-equity ratio of 3.44, a current ratio of 2.21 and a quick ratio of 1.13. The stock’s 50 day moving average price is $115.32 and its 200-day moving average price is $139.47.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 10th. Investors of record on Friday, May 27th will be paid a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Thursday, May 26th. Scotts Miracle-Gro’s payout ratio is currently 37.08%.
In other Scotts Miracle-Gro news, EVP James D. King sold 17,500 shares of the stock in a transaction on Tuesday, May 10th. The stock was 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 in the company, valued at approximately $960,579.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Stephen L. Johnson sold 2,305 shares of the stock in a transaction on Wednesday, May 4th. The shares were sold at an average price of $113.36, for a total value of $261,294.80. Following the sale, the director now owns 20,233 shares in the company, valued at approximately $2,293,612.88. The disclosure for this sale can be found here. Company insiders own 27.31% of the company’s stock.
Several hedge funds have recently bought and sold shares of SMG. Joseph Group Capital Management purchased a new position in shares of Scotts Miracle-Gro in the 4th quarter worth $798,000. Ellevest Inc. increased its position in shares of Scotts Miracle-Gro by 177.2% during the fourth quarter. Ellevest Inc. now owns 158 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 101 shares during the last quarter. Confluence Wealth Services Inc. purchased a new stake in shares of Scotts Miracle-Gro during the fourth quarter worth about $26,000. Whittier Trust Co. of Nevada Inc. increased its position in shares of Scotts Miracle-Gro by 84.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 212 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 97 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Scotts Miracle-Gro during the first quarter worth about $27,000. Institutional investors and hedge funds own 62.23% of the company’s stock.
About Scotts Miracle-Gro (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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