Analysts Set The Scotts Miracle-Gro Company (NYSE:SMG) Target Price at $76.67

The Scotts Miracle-Gro Company (NYSE:SMG) has been given a consensus rating of “Hold” by the seven ratings firms that are presently covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $75.83.

Several equities analysts have issued reports on SMG shares. Stifel Nicolaus boosted their price target on Scotts Miracle-Gro from $75.00 to $81.00 and gave the company a “hold” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. dropped their price target on Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Wells Fargo & Company dropped their price target on Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Jefferies Financial Group started coverage on Scotts Miracle-Gro in a research note on Monday, December 9th. They issued a “hold” rating and a $72.00 price target on the stock. Finally, UBS Group dropped their price target on Scotts Miracle-Gro from $77.00 to $72.00 and set a “neutral” rating on the stock in a research note on Thursday.

Insider Buying and Selling

In related news, major shareholder Hagedorn Partnership, L.P. sold 500 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $77.14, for a total transaction of $38,570.00. Following the completion of the sale, the insider now owns 13,553,274 shares in the company, valued at approximately $1,045,499,556.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO James Hagedorn sold 18,368 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $75.68, for a total value of $1,390,090.24. Following the sale, the chief executive officer now owns 87,426 shares of the company’s stock, valued at $6,616,399.68. This trade represents a 17.36 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 58,227 shares of company stock worth $4,410,268. 25.37% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Global X Japan Co. Ltd. bought a new position in Scotts Miracle-Gro in the 3rd quarter valued at $26,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Scotts Miracle-Gro during the 2nd quarter valued at $29,000. Farther Finance Advisors LLC lifted its position in shares of Scotts Miracle-Gro by 427.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 332 shares of the basic materials company’s stock valued at $29,000 after buying an additional 269 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Scotts Miracle-Gro by 83.6% during the 3rd quarter. Blue Trust Inc. now owns 369 shares of the basic materials company’s stock valued at $32,000 after buying an additional 168 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in shares of Scotts Miracle-Gro during the 3rd quarter valued at $44,000. Institutional investors own 74.07% of the company’s stock.

Scotts Miracle-Gro Price Performance

Scotts Miracle-Gro stock opened at $70.29 on Monday. The stock’s 50 day moving average is $71.72 and its 200 day moving average is $73.99. The firm has a market cap of $4.04 billion, a P/E ratio of -101.87 and a beta of 1.73. Scotts Miracle-Gro has a one year low of $53.43 and a one year high of $93.90.

Scotts Miracle-Gro Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date of this dividend was Friday, November 22nd. Scotts Miracle-Gro’s payout ratio is -382.61%.

About Scotts Miracle-Gro

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.