The Scotts Miracle-Gro Company (SMG) to Issue Quarterly Dividend of $0.66 on December 6th

The Scotts Miracle-Gro Company (NYSE:SMG) announced a quarterly dividend on Monday, November 4th,NASDAQ Dividends reports. Shareholders of record on Friday, November 22nd will be paid a dividend of 0.66 per share by the basic materials company on Friday, December 6th. This represents a $2.64 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date of this dividend is Friday, November 22nd.

Scotts Miracle-Gro has raised its dividend by an average of 3.2% per year over the last three years. Scotts Miracle-Gro has a payout ratio of 76.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect Scotts Miracle-Gro to earn $4.09 per share next year, which means the company should continue to be able to cover its $2.64 annual dividend with an expected future payout ratio of 64.5%.

Scotts Miracle-Gro Stock Performance

NYSE SMG opened at $74.68 on Wednesday. The company has a 50-day simple moving average of $81.61 and a 200 day simple moving average of $72.76. Scotts Miracle-Gro has a 52-week low of $53.43 and a 52-week high of $93.90. The company has a market capitalization of $4.24 billion, a PE ratio of -108.23 and a beta of 1.76.

Analyst Ratings Changes

SMG has been the topic of a number of recent analyst reports. Stifel Nicolaus increased their price target on shares of Scotts Miracle-Gro from $75.00 to $81.00 and gave the stock a “hold” rating in a report on Monday, November 4th. UBS Group cut their target price on Scotts Miracle-Gro from $90.00 to $77.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Truist Financial decreased their price objective on Scotts Miracle-Gro from $90.00 to $70.00 and set a “hold” rating on the stock in a report on Friday, November 8th. JPMorgan Chase & Co. lowered their price target on shares of Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Finally, Wells Fargo & Company cut their price objective on Scotts Miracle-Gro from $95.00 to $85.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $78.60.

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.