Scotts Miracle-Gro (NYSE:SMG) Price Target Raised to $79.00

Scotts Miracle-Gro (NYSE:SMG) had its target price increased by Stifel Nicolaus from $70.00 to $79.00 in a research note published on Tuesday,Benzinga reports. The firm currently has a buy rating on the basic materials company’s stock.

A number of other equities analysts have also recently issued reports on the stock. Jefferies Financial Group raised their target price on shares of Scotts Miracle-Gro from $71.00 to $74.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Wells Fargo & Company reiterated an “overweight” rating on shares of Scotts Miracle-Gro in a research report on Tuesday, February 17th. UBS Group set a $67.00 price target on Scotts Miracle-Gro in a report on Thursday, January 29th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Scotts Miracle-Gro in a research report on Wednesday, January 21st. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Scotts Miracle-Gro currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.50.

Scotts Miracle-Gro Stock Down 4.1%

NYSE:SMG opened at $66.13 on Tuesday. The company has a market cap of $3.84 billion, a PE ratio of 44.99 and a beta of 1.96. The business’s 50 day moving average is $64.64 and its two-hundred day moving average is $59.96. Scotts Miracle-Gro has a 52 week low of $45.61 and a 52 week high of $72.35.

Scotts Miracle-Gro (NYSE:SMG) last posted its quarterly earnings results on Wednesday, January 28th. The basic materials company reported ($0.77) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.04) by $0.27. Scotts Miracle-Gro had a net margin of 2.68% and a negative return on equity of 68.59%. The company had revenue of $354.40 million for the quarter, compared to the consensus estimate of $353.25 million. During the same period last year, the firm posted ($0.89) EPS. The company’s revenue for the quarter was down 3.3% on a year-over-year basis. Scotts Miracle-Gro has set its FY 2026 guidance at 4.150-4.35 EPS. As a group, sell-side analysts expect that Scotts Miracle-Gro will post 3.42 EPS for the current fiscal year.

Scotts Miracle-Gro Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 20th will be given a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 4.0%. The ex-dividend date is Friday, February 20th. Scotts Miracle-Gro’s dividend payout ratio (DPR) is currently 179.59%.

Insider Buying and Selling at Scotts Miracle-Gro

In other news, Director Hagedorn Partnership, L.P. sold 50,000 shares of the firm’s stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $66.40, for a total transaction of $3,320,000.00. Following the transaction, the director directly owned 13,167,641 shares of the company’s stock, valued at approximately $874,331,362.40. This trade represents a 0.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark J. Scheiwer acquired 693 shares of Scotts Miracle-Gro stock in a transaction that occurred on Tuesday, February 24th. The stock was bought at an average cost of $71.44 per share, with a total value of $49,507.92. Following the acquisition, the executive vice president directly owned 15,370 shares of the company’s stock, valued at approximately $1,098,032.80. This trade represents a 4.72% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 24.40% of the company’s stock.

Institutional Trading of Scotts Miracle-Gro

Several institutional investors and hedge funds have recently added to or reduced their stakes in SMG. Versor Investments LP acquired a new position in Scotts Miracle-Gro during the third quarter worth $1,355,000. Campbell & CO Investment Adviser LLC bought a new stake in shares of Scotts Miracle-Gro during the 3rd quarter worth about $1,425,000. Thrivent Financial for Lutherans increased its holdings in shares of Scotts Miracle-Gro by 215.2% during the 2nd quarter. Thrivent Financial for Lutherans now owns 31,853 shares of the basic materials company’s stock valued at $2,101,000 after acquiring an additional 21,747 shares during the last quarter. Brandes Investment Partners LP raised its stake in shares of Scotts Miracle-Gro by 333.3% in the 2nd quarter. Brandes Investment Partners LP now owns 603,941 shares of the basic materials company’s stock valued at $39,836,000 after acquiring an additional 464,570 shares in the last quarter. Finally, AGF Management Ltd. lifted its holdings in Scotts Miracle-Gro by 12.6% in the 2nd quarter. AGF Management Ltd. now owns 50,600 shares of the basic materials company’s stock worth $3,338,000 after purchasing an additional 5,649 shares during the last quarter. 74.07% of the stock is owned by institutional investors and hedge funds.

About Scotts Miracle-Gro

Scotts Miracle-Gro Company is a leading developer, manufacturer and distributor of consumer lawn and garden products. The firm serves both retail and professional customers through an array of branded offerings that include lawn fertilizers, grass seed, pest and disease control solutions, plant foods and specialty products for indoor and outdoor gardening. Its portfolio spans well-known names such as Scotts®, Miracle-Gro®, Ortho® and various hydroponic and specialty garden brands.

Headquartered in Marysville, Ohio, the company traces its roots to O.M.