Scotts Miracle-Gro (NYSE:SMG) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen lowered shares of Scotts Miracle-Gro (NYSE:SMG) from a buy rating to a hold rating in a report released on Saturday morning.

A number of other brokerages have also recently commented on SMG. UBS Group raised their price objective on shares of Scotts Miracle-Gro from $70.00 to $78.00 and gave the stock a “neutral” rating in a research note on Thursday. Weiss Ratings reissued a “hold (c)” rating on shares of Scotts Miracle-Gro in a report on Monday, May 4th. Stifel Nicolaus lowered their price target on shares of Scotts Miracle-Gro from $76.00 to $75.00 and set a “buy” rating on the stock in a report on Monday, June 8th. Wells Fargo & Company raised their price target on shares of Scotts Miracle-Gro from $74.00 to $77.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $79.00 price objective on shares of Scotts Miracle-Gro in a report on Wednesday, April 29th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $75.20.

Scotts Miracle-Gro Stock Down 3.8%

Scotts Miracle-Gro stock opened at $65.72 on Friday. The firm has a market cap of $3.82 billion, a price-to-earnings ratio of 57.15 and a beta of 1.81. Scotts Miracle-Gro has a 52 week low of $52.00 and a 52 week high of $75.34. The business’s 50-day moving average price is $64.84 and its 200 day moving average price is $64.27.

Scotts Miracle-Gro (NYSE:SMG) last announced its quarterly earnings results on Wednesday, July 29th. The basic materials company reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.34. Scotts Miracle-Gro had a negative return on equity of 81.90% and a net margin of 2.19%.The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period last year, the business earned $2.59 earnings per share. Scotts Miracle-Gro’s quarterly revenue was up 1.1% on a year-over-year basis. Equities analysts expect that Scotts Miracle-Gro will post 4.35 EPS for the current year.

Scotts Miracle-Gro Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Friday, August 21st will be given a $0.66 dividend. The ex-dividend date is Friday, August 21st. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.0%. Scotts Miracle-Gro’s payout ratio is 229.57%.

Insider Buying and Selling at Scotts Miracle-Gro

In other news, Director Stephen L. Johnson sold 1,171 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $68.32, for a total transaction of $80,002.72. Following the completion of the transaction, the director directly owned 30,179 shares of the company’s stock, valued at $2,061,829.28. This represents a 3.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 24.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Scotts Miracle-Gro

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cassaday & Co Wealth Management LLC purchased a new position in Scotts Miracle-Gro during the first quarter valued at $26,000. Key Capital Management INC purchased a new stake in shares of Scotts Miracle-Gro during the fourth quarter worth about $29,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Scotts Miracle-Gro during the third quarter worth about $32,000. Elevation Wealth Partners LLC raised its position in shares of Scotts Miracle-Gro by 394.1% during the 2nd quarter. Elevation Wealth Partners LLC now owns 751 shares of the basic materials company’s stock worth $51,000 after purchasing an additional 599 shares during the last quarter. Finally, SBI Securities Co. Ltd. raised its position in shares of Scotts Miracle-Gro by 127.9% during the 4th quarter. SBI Securities Co. Ltd. now owns 889 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 499 shares during the last quarter. Hedge funds and other institutional investors own 74.07% of the company’s stock.

Scotts Miracle-Gro Company Profile

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.