Scotts Miracle-Gro (NYSE:SMG) Price Target Increased to $90.00 by Analysts at Truist Financial

Scotts Miracle-Gro (NYSE:SMG) had its price objective boosted by Truist Financial from $65.00 to $90.00 in a report released on Wednesday morning, Benzinga reports. They currently have a hold rating on the basic materials company’s stock.

SMG has been the subject of a number of other research reports. Stifel Nicolaus lifted their price objective on Scotts Miracle-Gro from $70.00 to $75.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. Wells Fargo & Company boosted their price objective on shares of Scotts Miracle-Gro from $75.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $83.75.

Scotts Miracle-Gro Trading Up 0.8 %

Shares of SMG opened at $90.14 on Wednesday. Scotts Miracle-Gro has a 12-month low of $43.67 and a 12-month high of $91.09. The stock has a market cap of $5.12 billion, a P/E ratio of -14.45 and a beta of 1.76. The company has a 50-day moving average of $76.57 and a two-hundred day moving average of $70.92.

Scotts Miracle-Gro (NYSE:SMG) last issued its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.42. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. Scotts Miracle-Gro had a negative return on equity of 41.19% and a negative net margin of 7.38%. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.17 EPS. As a group, analysts forecast that Scotts Miracle-Gro will post 2.62 EPS for the current fiscal year.

Scotts Miracle-Gro Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were given a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend was Friday, August 23rd. Scotts Miracle-Gro’s dividend payout ratio (DPR) is -42.31%.

Insider Buying and Selling at Scotts Miracle-Gro

In other news, Director Stephen L. Johnson sold 960 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $77.95, for a total transaction of $74,832.00. Following the completion of the sale, the director now directly owns 22,940 shares in the company, valued at $1,788,173. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $70.93, for a total value of $6,038,270.90. Following the transaction, the insider now owns 13,608,238 shares of the company’s stock, valued at approximately $965,232,321.34. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Stephen L. Johnson sold 960 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $77.95, for a total transaction of $74,832.00. Following the sale, the director now directly owns 22,940 shares of the company’s stock, valued at approximately $1,788,173. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 89,078 shares of company stock worth $6,325,042 in the last quarter. 26.46% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SMG. Rise Advisors LLC grew its stake in shares of Scotts Miracle-Gro by 135.2% in the first quarter. Rise Advisors LLC now owns 334 shares of the basic materials company’s stock valued at $25,000 after buying an additional 192 shares in the last quarter. Blue Trust Inc. grew its position in Scotts Miracle-Gro by 83.6% in the third quarter. Blue Trust Inc. now owns 369 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 168 shares in the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Scotts Miracle-Gro during the second quarter valued at approximately $25,000. Versant Capital Management Inc lifted its position in shares of Scotts Miracle-Gro by 80.1% during the second quarter. Versant Capital Management Inc now owns 389 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 173 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Scotts Miracle-Gro in the second quarter valued at $29,000. 74.07% of the stock is owned by hedge funds and other institutional investors.

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.