The Scotts Miracle-Gro Company (NYSE:SMG) Receives Average Rating of “Hold” from Analysts

Shares of The Scotts Miracle-Gro Company (NYSE:SMG) have been assigned an average rating of “Hold” from the six ratings firms that are covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $78.60.

SMG has been the subject of several analyst reports. JPMorgan Chase & Co. reduced their price objective 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 Scotts Miracle-Gro from $75.00 to $81.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Wells Fargo & Company lowered their price objective on Scotts Miracle-Gro from $95.00 to $85.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Truist Financial reduced their target price on Scotts Miracle-Gro from $90.00 to $70.00 and set a “hold” rating for the company in a report on Friday, November 8th. Finally, UBS Group lowered their price target on Scotts Miracle-Gro from $90.00 to $77.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th.

Hedge Funds Weigh In On Scotts Miracle-Gro

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Franklin Resources Inc. grew its position in Scotts Miracle-Gro by 13.9% in the 3rd quarter. Franklin Resources Inc. now owns 58,918 shares of the basic materials company’s stock worth $5,171,000 after purchasing an additional 7,206 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Scotts Miracle-Gro during the third quarter worth about $44,000. Anchor Investment Management LLC increased its stake in Scotts Miracle-Gro by 5,300.0% during the third quarter. Anchor Investment Management LLC now owns 702 shares of the basic materials company’s stock valued at $61,000 after acquiring an additional 689 shares during the period. Geode Capital Management LLC raised its holdings in Scotts Miracle-Gro by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 708,558 shares of the basic materials company’s stock valued at $61,448,000 after acquiring an additional 14,730 shares in the last quarter. Finally, Public Employees Retirement System of Ohio raised its holdings in Scotts Miracle-Gro by 61.0% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 28,101 shares of the basic materials company’s stock valued at $2,436,000 after acquiring an additional 10,645 shares in the last quarter. Institutional investors own 74.07% of the company’s stock.

Scotts Miracle-Gro Stock Performance

Shares of SMG opened at $75.80 on Friday. The firm has a market cap of $4.31 billion, a PE ratio of -109.86 and a beta of 1.76. Scotts Miracle-Gro has a twelve month low of $53.43 and a twelve month high of $93.90. The firm’s 50 day moving average price is $82.55 and its 200 day moving average price is $73.10.

Scotts Miracle-Gro Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be issued a dividend of $0.66 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.48%. Scotts Miracle-Gro’s dividend payout ratio (DPR) is presently -382.61%.

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.