Brokerages Set The Scotts Miracle-Gro Company (NYSE:SMG) PT at $78.60

Shares of The Scotts Miracle-Gro Company (NYSE:SMG) have received an average rating of “Hold” from the six ratings firms that are currently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $78.60.

Several research analysts have recently commented on the company. Truist Financial reduced their target price on Scotts Miracle-Gro from $90.00 to $70.00 and set a “hold” rating for the company in a research note on Friday, November 8th. UBS Group dropped their price target on Scotts Miracle-Gro from $90.00 to $77.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. JPMorgan Chase & Co. dropped their price target on Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Stifel Nicolaus lifted their price target on Scotts Miracle-Gro from $75.00 to $81.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Finally, Wells Fargo & Company dropped their price target on Scotts Miracle-Gro from $95.00 to $85.00 and set an “overweight” rating for the company in a report on Thursday, November 7th.

Hedge Funds Weigh In On Scotts Miracle-Gro

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Gabelli Funds LLC raised its holdings in shares of Scotts Miracle-Gro by 6.6% during the 1st quarter. Gabelli Funds LLC now owns 32,500 shares of the basic materials company’s stock worth $2,424,000 after buying an additional 2,000 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Scotts Miracle-Gro by 24.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,726,338 shares of the basic materials company’s stock worth $203,359,000 after buying an additional 542,406 shares in the last quarter. Interval Partners LP raised its holdings in shares of Scotts Miracle-Gro by 3,581.1% during the 1st quarter. Interval Partners LP now owns 478,546 shares of the basic materials company’s stock worth $35,695,000 after buying an additional 465,546 shares in the last quarter. Tidal Investments LLC raised its holdings in shares of Scotts Miracle-Gro by 279.0% during the 1st quarter. Tidal Investments LLC now owns 31,275 shares of the basic materials company’s stock worth $2,333,000 after buying an additional 23,023 shares in the last quarter. Finally, Comerica Bank raised its holdings in shares of Scotts Miracle-Gro by 58.7% during the 1st quarter. Comerica Bank now owns 77,183 shares of the basic materials company’s stock worth $5,757,000 after buying an additional 28,557 shares in the last quarter. 74.07% of the stock is owned by institutional investors and hedge funds.

Scotts Miracle-Gro Trading Down 4.8 %

Shares of NYSE SMG opened at $77.78 on Friday. Scotts Miracle-Gro has a 12 month low of $53.43 and a 12 month high of $93.90. The stock has a 50 day moving average of $82.37 and a 200-day moving average of $73.01. The company has a market capitalization of $4.42 billion, a P/E ratio of -112.75 and a beta of 1.76.

Scotts Miracle-Gro Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be issued a $0.66 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $2.64 annualized dividend and a yield of 3.39%. Scotts Miracle-Gro’s dividend payout ratio is presently -382.61%.

Scotts Miracle-Gro Company Profile

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.