UBS Group Cuts Scotts Miracle-Gro (NYSE:SMG) Price Target to $86.00

Scotts Miracle-Gro (NYSE:SMGGet Rating) had its price objective lowered by UBS Group from $92.00 to $86.00 in a research report released on Wednesday, Marketbeat.com reports. UBS Group currently has a neutral rating on the basic materials company’s stock.

Several other equities research analysts have also issued reports on SMG. JPMorgan Chase & Co. lowered shares of Scotts Miracle-Gro from an overweight rating to a neutral rating and lowered their target price for the stock from $130.00 to $95.00 in a report on Thursday, June 9th. Barclays lowered shares of Scotts Miracle-Gro from an overweight rating to an equal weight rating and lowered their target price for the stock from $150.00 to $110.00 in a report on Thursday, April 21st. Raymond James reduced their price target on shares of Scotts Miracle-Gro from $125.00 to $110.00 in a research note on Thursday, June 9th. Stifel Nicolaus reduced their price target on shares of Scotts Miracle-Gro from $116.00 to $93.00 in a research note on Tuesday, June 14th. Finally, Truist Financial downgraded shares of Scotts Miracle-Gro from a buy rating to a hold rating and reduced their price target for the stock from $185.00 to $85.00 in a research note on Wednesday, June 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $113.88.

Scotts Miracle-Gro Price Performance

SMG stock opened at $80.75 on Wednesday. The company has a fifty day simple moving average of $84.78 and a two-hundred day simple moving average of $109.25. The firm has a market capitalization of $4.47 billion, a P/E ratio of -16.72 and a beta of 1.24. The company has a quick ratio of 1.13, a current ratio of 2.42 and a debt-to-equity ratio of 7.55. Scotts Miracle-Gro has a 52 week low of $72.58 and a 52 week high of $180.43.

Scotts Miracle-Gro (NYSE:SMGGet Rating) last released its earnings results on Wednesday, August 3rd. The basic materials company reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.28. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.23 billion. Scotts Miracle-Gro had a negative net margin of 6.36% and a positive return on equity of 36.80%. The business’s revenue was down 26.3% on a year-over-year basis. During the same quarter last year, the business earned $3.98 EPS. Analysts anticipate that Scotts Miracle-Gro will post 4.1 earnings per share for the current fiscal year.

Scotts Miracle-Gro Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 9th. Shareholders of record on Friday, August 26th will be given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend is Thursday, August 25th. Scotts Miracle-Gro’s dividend payout ratio (DPR) is -54.66%.

Insider Buying and Selling at Scotts Miracle-Gro

In other Scotts Miracle-Gro news, EVP James D. King sold 17,500 shares of the firm’s stock in a transaction dated Tuesday, May 10th. The shares were sold at an average price of $98.42, for a total transaction of $1,722,350.00. Following the transaction, the executive vice president now owns 9,760 shares of the company’s stock, valued at approximately $960,579.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO James Hagedorn sold 60,000 shares of the firm’s stock in a transaction dated Friday, May 13th. The shares were sold at an average price of $97.74, for a total value of $5,864,400.00. Following the sale, the chief executive officer now directly owns 261,816 shares in the company, valued at approximately $25,589,895.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James D. King sold 17,500 shares of the firm’s stock in a transaction dated Tuesday, May 10th. The shares were sold at an average price of $98.42, for a total transaction of $1,722,350.00. Following the completion of the sale, the executive vice president now owns 9,760 shares in the company, valued at $960,579.20. The disclosure for this sale can be found here. Insiders own 27.31% of the company’s stock.

Institutional Trading of Scotts Miracle-Gro

Institutional investors have recently modified their holdings of the company. Confluence Wealth Services Inc. acquired a new stake in Scotts Miracle-Gro in the 4th quarter worth approximately $26,000. Whittier Trust Co. of Nevada Inc. boosted its stake in Scotts Miracle-Gro by 84.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 212 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 97 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in Scotts Miracle-Gro in the 1st quarter worth approximately $27,000. Byrne Asset Management LLC boosted its stake in Scotts Miracle-Gro by 78.3% in the 2nd quarter. Byrne Asset Management LLC now owns 353 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 155 shares in the last quarter. Finally, Ellevest Inc. boosted its stake in Scotts Miracle-Gro by 74.7% in the 1st quarter. Ellevest Inc. now owns 276 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 118 shares in the last quarter. 62.23% of the stock is currently owned by institutional investors.

About Scotts Miracle-Gro

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The Scotts Miracle-Gro Company engages in the manufacture, marketing, and sale of products for lawn, garden care, and indoor and hydroponic gardening in the United States and internationally. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It provides lawn care products comprising lawn fertilizers, grass seed products, spreaders, other durable products, and outdoor cleaners, as well as lawn-related weed, pest, and disease control products; gardening and landscape products include water-soluble and continuous-release plant foods, potting mixes and garden soils, mulch and decorative groundcover products, plant-related pest and disease control products, organic garden products, and lives goods and seeding solutions.

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