Recent Investment Analysts’ Ratings Updates for Scotts Miracle-Gro (SMG)

Posted by Renee Jackson on Nov 13th, 2024

Several analysts have recently updated their ratings and price targets for Scotts Miracle-Gro (NYSE: SMG):

11/8/2024 – Scotts Miracle-Gro had its price target lowered by analysts at Truist Financial Co. from $90.00 to $70.00. They now have a “hold” rating on the stock.
11/7/2024 – Scotts Miracle-Gro had its price target lowered by analysts at JPMorgan Chase & Co. from $85.00 to $80.00. They now have an “overweight” rating on the stock.
11/7/2024 – Scotts Miracle-Gro had its price target lowered by analysts at Wells Fargo & Company from $95.00 to $85.00. They now have an “overweight” rating on the stock.
11/7/2024 – Scotts Miracle-Gro had its price target lowered by analysts at UBS Group AG from $90.00 to $77.00. They now have a “neutral” rating on the stock.
11/4/2024 – Scotts Miracle-Gro had its price target raised by analysts at Stifel Nicolaus from $75.00 to $81.00. They now have a “hold” rating on the stock.
10/16/2024 – Scotts Miracle-Gro had its price target raised by analysts at Truist Financial Co. from $65.00 to $90.00. They now have a “hold” rating on the stock.

Scotts Miracle-Gro Price Performance

Shares of NYSE SMG traded down $0.15 during midday trading on Wednesday, reaching $73.43. 110,254 shares of the stock were exchanged, compared to its average volume of 814,380. The business has a 50-day simple moving average of $81.00 and a two-hundred day simple moving average of $72.57. The company has a market capitalization of $4.17 billion, a price-to-earnings ratio of -106.42 and a beta of 1.76. The Scotts Miracle-Gro Company has a 12 month low of $51.60 and a 12 month high of $93.90.

Scotts Miracle-Gro Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be given a $0.66 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $2.64 annualized dividend and a yield of 3.60%. Scotts Miracle-Gro’s dividend payout ratio is currently -382.61%.

Insider Buying and Selling at Scotts Miracle-Gro

In other news, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $70.93, for a total transaction of $6,038,270.90. Following the transaction, the insider now directly owns 13,608,238 shares in the company, valued at $965,232,321.34. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, COO Nathan Eric Baxter sold 2,988 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $70.93, for a total transaction of $211,938.84. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $70.93, for a total transaction of $6,038,270.90. Following the sale, the insider now directly owns 13,608,238 shares of the company’s stock, valued at approximately $965,232,321.34. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 26.46% of the company’s stock.

Hedge Funds Weigh In On Scotts Miracle-Gro

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Texas Permanent School Fund Corp increased its position in shares of Scotts Miracle-Gro by 2.4% during the first quarter. Texas Permanent School Fund Corp now owns 36,647 shares of the basic materials company’s stock worth $2,734,000 after buying an additional 866 shares during the period. Envestnet Portfolio Solutions Inc. lifted its position in shares of Scotts Miracle-Gro by 9.4% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 15,041 shares of the basic materials company’s stock valued at $1,122,000 after purchasing an additional 1,289 shares in the last quarter. Swiss National Bank lifted its position in shares of Scotts Miracle-Gro by 1.1% during the first quarter. Swiss National Bank now owns 83,900 shares of the basic materials company’s stock valued at $6,258,000 after purchasing an additional 900 shares in the last quarter. Atomi Financial Group Inc. bought a new position in shares of Scotts Miracle-Gro during the first quarter valued at about $267,000. Finally, US Bancorp DE increased its holdings in Scotts Miracle-Gro by 9.9% during the first quarter. US Bancorp DE now owns 40,992 shares of the basic materials company’s stock worth $3,058,000 after buying an additional 3,688 shares during the last quarter. 74.07% of the stock is currently owned by institutional investors and hedge funds.

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.