Stifel Nicolaus Increases Scotts Miracle-Gro (NYSE:SMG) Price Target to $75.00

Scotts Miracle-Gro (NYSE:SMG) had its price target raised by Stifel Nicolaus from $70.00 to $75.00 in a research note released on Friday, Benzinga reports. They currently have a hold rating on the basic materials company’s stock.

A number of other equities research analysts have also recently issued reports on the company. StockNews.com upgraded Scotts Miracle-Gro from a sell rating to a hold rating in a research note on Thursday, April 4th. Wells Fargo & Company upped their price target on Scotts Miracle-Gro from $75.00 to $85.00 and gave the company an overweight rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. upped their price target on Scotts Miracle-Gro from $70.00 to $85.00 and gave the company an overweight rating in a research report on Friday, April 5th. Finally, Truist Financial cut Scotts Miracle-Gro from a buy rating to a hold rating and upped their price target for the company from $65.00 to $75.00 in a research report on Friday, April 5th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and a consensus target price of $76.00.

Scotts Miracle-Gro Trading Up 0.7 %

Scotts Miracle-Gro stock traded up $0.47 during midday trading on Friday, reaching $71.18. The stock had a trading volume of 277,164 shares, compared to its average volume of 850,828. Scotts Miracle-Gro has a 12 month low of $43.67 and a 12 month high of $82.11. The firm’s 50-day moving average price is $66.59 and its 200 day moving average price is $65.99.

Scotts Miracle-Gro (NYSE:SMG) last announced its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.42. Scotts Miracle-Gro had a negative return on equity of 41.19% and a negative net margin of 7.38%. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the previous year, the business posted $1.17 EPS. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. As a group, research analysts anticipate that Scotts Miracle-Gro will post 2.6 EPS for the current year.

Scotts Miracle-Gro Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Friday, August 23rd will be given a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 3.71%. The ex-dividend date is Friday, August 23rd. Scotts Miracle-Gro’s dividend payout ratio (DPR) is -42.31%.

Insider Buying and Selling

In related news, Director Stephen L. Johnson sold 960 shares of the company’s stock in a transaction that occurred on 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 directly owns 22,940 shares in the company, valued at $1,788,173. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 26.46% of the stock is owned by company insiders.

Institutional Trading of Scotts Miracle-Gro

Hedge funds and other institutional investors have recently bought and sold shares of the company. Rise Advisors LLC boosted its stake in 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 buying an additional 192 shares in the last quarter. Versant Capital Management Inc boosted its stake in Scotts Miracle-Gro by 80.1% in the second quarter. Versant Capital Management Inc now owns 389 shares of the basic materials company’s stock worth $25,000 after buying an additional 173 shares in the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new stake in Scotts Miracle-Gro in the second quarter worth approximately $25,000. GAMMA Investing LLC purchased a new stake in Scotts Miracle-Gro in the fourth quarter worth approximately $29,000. Finally, Frazier Financial Advisors LLC purchased a new stake in Scotts Miracle-Gro in the fourth quarter worth approximately $36,000. Hedge funds and other institutional investors own 74.07% of the company’s stock.

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.