Scotts Miracle-Gro (NYSE:SMG) Given New $55.00 Price Target at UBS Group

Scotts Miracle-Gro (NYSE:SMG) had its price objective trimmed by UBS Group from $77.00 to $55.00 in a report released on Thursday,Benzinga reports. The firm currently has a neutral rating on the basic materials company’s stock.

A number of other research analysts have also weighed in on the stock. Truist Financial upgraded shares of Scotts Miracle-Gro from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research note on Wednesday, April 2nd. Wells Fargo & Company decreased their price objective on Scotts Miracle-Gro from $70.00 to $65.00 and set an “overweight” rating on the stock in a research note on Wednesday. Stifel Nicolaus upgraded Scotts Miracle-Gro from a “hold” rating to a “buy” rating and cut their target price for the stock from $78.00 to $70.00 in a research note on Tuesday, March 4th. Finally, Jefferies Financial Group raised shares of Scotts Miracle-Gro from a “hold” rating to a “buy” rating and lowered their price target for the stock from $72.00 to $69.00 in a report on Monday, April 7th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $68.17.

Scotts Miracle-Gro Price Performance

Shares of SMG opened at $52.21 on Thursday. The firm has a market cap of $3.00 billion, a PE ratio of -108.77 and a beta of 1.96. Scotts Miracle-Gro has a 1 year low of $46.45 and a 1 year high of $93.90. The stock’s fifty day moving average price is $58.12 and its two-hundred day moving average price is $69.85.

Scotts Miracle-Gro (NYSE:SMG) last announced its quarterly earnings data on Wednesday, January 29th. The basic materials company reported ($0.89) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.23) by $0.34. Scotts Miracle-Gro had a negative return on equity of 51.48% and a negative net margin of 0.67%. During the same period in the previous year, the company posted ($1.45) EPS. Sell-side analysts anticipate that Scotts Miracle-Gro will post 3.42 earnings per share for the current fiscal year.

Scotts Miracle-Gro Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 21st were given a dividend of $0.66 per share. The ex-dividend date was Friday, February 21st. This represents a $2.64 dividend on an annualized basis and a dividend yield of 5.06%. Scotts Miracle-Gro’s dividend payout ratio (DPR) is presently -550.00%.

Insider Transactions at Scotts Miracle-Gro

In other news, EVP Christopher Hagedorn sold 3,568 shares of Scotts Miracle-Gro stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $71.50, for a total transaction of $255,112.00. Following the completion of the sale, the executive vice president now directly owns 55,972 shares of the company’s stock, valued at approximately $4,001,998. The trade was a 5.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO James Hagedorn sold 142,733 shares of the stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $71.56, for a total value of $10,213,973.48. Following the completion of the transaction, the chief executive officer now directly owns 88,310 shares in the company, valued at approximately $6,319,463.60. This represents a 61.78 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 159,937 shares of company stock valued at $11,379,275. 25.37% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Scotts Miracle-Gro

A number of hedge funds and other institutional investors have recently modified their holdings of SMG. Atala Financial Inc bought a new stake in Scotts Miracle-Gro in the 4th quarter worth approximately $25,000. SBI Securities Co. Ltd. bought a new stake in shares of Scotts Miracle-Gro in the 4th quarter worth approximately $26,000. UMB Bank n.a. boosted its stake in shares of Scotts Miracle-Gro by 479.4% in the 1st quarter. UMB Bank n.a. now owns 562 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 465 shares in the last quarter. Tortoise Investment Management LLC boosted its stake in shares of Scotts Miracle-Gro by 77.3% in the 4th quarter. Tortoise Investment Management LLC now owns 516 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 225 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Scotts Miracle-Gro by 68.3% during the 4th quarter. Blue Trust Inc. now owns 621 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 252 shares during the last quarter. 74.07% of the stock is currently 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.