Scotts Miracle-Gro (NYSE:SMG) Given New $90.00 Price Target at Truist Financial

Scotts Miracle-Gro (NYSE:SMG) had its price objective lifted by Truist Financial from $65.00 to $90.00 in a research report sent to investors on Wednesday morning, Benzinga reports. Truist Financial currently has a hold rating on the basic materials company’s stock.

SMG has been the topic of a number of other research reports. Wells Fargo & Company lifted their price objective on Scotts Miracle-Gro from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Stifel Nicolaus lifted their price target on Scotts Miracle-Gro from $70.00 to $75.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Scotts Miracle-Gro presently has a consensus rating of “Hold” and an average target price of $83.75.

Scotts Miracle-Gro Trading Up 0.7 %

Shares of Scotts Miracle-Gro stock opened at $90.13 on Wednesday. Scotts Miracle-Gro has a twelve month low of $43.67 and a twelve month high of $91.09. The firm has a market capitalization of $5.12 billion, a PE ratio of -14.44 and a beta of 1.76. The firm’s 50-day moving average price is $76.57 and its 200 day moving average price is $70.93.

Scotts Miracle-Gro (NYSE:SMG) last issued its earnings results on Wednesday, July 31st. The basic materials company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.42. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Scotts Miracle-Gro had a negative net margin of 7.38% and a negative return on equity of 41.19%. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.17 earnings per share. On average, sell-side analysts predict that Scotts Miracle-Gro will post 2.62 EPS for the current fiscal year.

Scotts Miracle-Gro Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend was Friday, August 23rd. Scotts Miracle-Gro’s dividend payout ratio is presently -42.31%.

Insider Buying and Selling

In other Scotts Miracle-Gro news, Director Stephen L. Johnson sold 960 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $77.95, for a total value of $74,832.00. Following the transaction, the director now owns 22,940 shares of the company’s stock, valued at $1,788,173. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Scotts Miracle-Gro news, Director Stephen L. Johnson sold 960 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $77.95, for a total value of $74,832.00. Following the sale, the director now owns 22,940 shares of the company’s stock, valued at $1,788,173. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Nathan Eric Baxter sold 2,988 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $70.93, for a total value of $211,938.84. Following the transaction, the chief operating officer now owns 37,920 shares of the company’s stock, valued at approximately $2,689,665.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 89,078 shares of company stock valued at $6,325,042. 26.46% of the stock is currently owned by insiders.

Institutional Trading of Scotts Miracle-Gro

Hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP increased its stake in Scotts Miracle-Gro by 2.4% during the 4th quarter. Wellington Management Group LLP now owns 77,564 shares of the basic materials company’s stock worth $4,945,000 after buying an additional 1,807 shares during the period. Rise Advisors LLC grew its stake in shares of Scotts Miracle-Gro by 135.2% in the first quarter. Rise Advisors LLC now owns 334 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 192 shares in the last quarter. Fulton Bank N.A. purchased a new stake in shares of Scotts Miracle-Gro during the first quarter worth $237,000. Yarbrough Capital LLC raised its stake in shares of Scotts Miracle-Gro by 46.6% in the first quarter. Yarbrough Capital LLC now owns 16,976 shares of the basic materials company’s stock valued at $1,266,000 after acquiring an additional 5,395 shares in the last quarter. Finally, MJP Associates Inc. ADV purchased a new position in Scotts Miracle-Gro in the first quarter valued at $213,000. Institutional investors and hedge funds own 74.07% of the company’s stock.

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.