Scotts Miracle-Gro (NYSE:SMG) PT Raised to $180.00

Scotts Miracle-Gro (NYSE:SMG) had its target price hoisted by SunTrust Banks from $155.00 to $180.00 in a research report sent to investors on Thursday morning, AnalystRatings.com reports. The firm currently has a buy rating on the basic materials company’s stock.

Several other analysts also recently weighed in on the company. Raymond James downgraded Scotts Miracle-Gro from a strong-buy rating to a market perform rating and set a $152.00 price target on the stock. in a research note on Tuesday, May 26th. William Blair restated a buy rating on shares of Scotts Miracle-Gro in a research note on Tuesday, June 9th. Finally, TheStreet upgraded Scotts Miracle-Gro from a c+ rating to a b rating in a research note on Wednesday, May 6th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Scotts Miracle-Gro currently has an average rating of Hold and an average price target of $128.50.

SMG stock opened at $158.57 on Thursday. Scotts Miracle-Gro has a fifty-two week low of $76.50 and a fifty-two week high of $167.46. The business’s 50 day moving average price is $137.83 and its two-hundred day moving average price is $123.79. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.32 and a current ratio of 1.61. The company has a market capitalization of $8.80 billion, a price-to-earnings ratio of 25.29 and a beta of 0.93.

Scotts Miracle-Gro (NYSE:SMG) last posted its earnings results on Wednesday, July 29th. The basic materials company reported $3.80 earnings per share for the quarter, topping analysts’ consensus estimates of $3.37 by $0.43. The firm had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.33 billion. Scotts Miracle-Gro had a return on equity of 45.36% and a net margin of 8.71%. The business’s revenue for the quarter was up 27.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.11 EPS. Sell-side analysts forecast that Scotts Miracle-Gro will post 5.75 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Thursday, August 27th will be given a $0.62 dividend. The ex-dividend date is Wednesday, August 26th. This is a boost from Scotts Miracle-Gro’s previous quarterly dividend of $0.58. This represents a $2.48 annualized dividend and a yield of 1.56%. Scotts Miracle-Gro’s dividend payout ratio is 51.90%.

In other news, Director Katherine Littlefield Hagedorn sold 3,077 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $131.08, for a total transaction of $403,333.16. Following the transaction, the director now directly owns 5,980 shares of the company’s stock, valued at approximately $783,858.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Hagedorn Partnership, L.P. sold 101,171 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $131.08, for a total value of $13,261,494.68. Following the transaction, the insider now directly owns 15,020,316 shares in the company, valued at $1,968,863,021.28. The disclosure for this sale can be found here. Insiders sold a total of 250,442 shares of company stock worth $33,190,830 over the last ninety days. 28.20% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sunbelt Securities Inc. bought a new position in shares of Scotts Miracle-Gro during the 4th quarter valued at $2,654,000. Rockefeller Capital Management L.P. lifted its holdings in shares of Scotts Miracle-Gro by 392.0% during the 1st quarter. Rockefeller Capital Management L.P. now owns 246 shares of the basic materials company’s stock valued at $25,000 after buying an additional 196 shares during the period. Toronto Dominion Bank bought a new position in shares of Scotts Miracle-Gro during the 1st quarter valued at $27,000. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Scotts Miracle-Gro by 62.8% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 311 shares of the basic materials company’s stock valued at $32,000 after buying an additional 120 shares during the period. Finally, Harbor Investment Advisory LLC lifted its holdings in shares of Scotts Miracle-Gro by 192.5% during the 1st quarter. Harbor Investment Advisory LLC now owns 351 shares of the basic materials company’s stock valued at $36,000 after buying an additional 231 shares during the period. 63.07% of the stock is currently owned by hedge funds and other institutional investors.

About Scotts Miracle-Gro

The Scotts Miracle-Gro Company manufactures, markets, and sells consumer lawn and garden products in the United States and internationally. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It offers lawn care products, such as lawn fertilizers, grass seed products, spreaders, other durable products, and outdoor cleaners, as well as lawn-related weed, pest, and disease control products.

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