Scotts Miracle-Gro Co (NYSE:SMG) – Analysts at William Blair lifted their FY2021 EPS estimates for Scotts Miracle-Gro in a note issued to investors on Tuesday, September 15th. William Blair analyst J. Andersen now anticipates that the basic materials company will earn $7.50 per share for the year, up from their prior estimate of $7.25. William Blair currently has a “Buy” rating on the stock.
Other research analysts have also issued reports about the stock. SunTrust Banks upped their target price on shares of Scotts Miracle-Gro from $155.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Raymond James restated a “hold” rating on shares of Scotts Miracle-Gro in a research report on Thursday, August 6th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $128.50.
Shares of NYSE:SMG opened at $154.64 on Wednesday. Scotts Miracle-Gro has a 52-week low of $76.50 and a 52-week high of $176.08. The firm has a fifty day moving average of $162.41 and a 200 day moving average of $134.63. The firm has a market capitalization of $8.62 billion, a PE ratio of 27.13 and a beta of 1.05. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.16 and a current ratio of 1.61.
Scotts Miracle-Gro (NYSE:SMG) last announced its earnings results on Wednesday, July 29th. The basic materials company reported $3.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.37 by $0.43. Scotts Miracle-Gro had a net margin of 8.71% and a return on equity of 45.36%. The company had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same period in the previous year, the business earned $3.11 earnings per share. The firm’s quarterly revenue was up 27.5% compared to the same quarter last year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Thursday, August 27th were paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 1.60%. This is an increase from Scotts Miracle-Gro’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Wednesday, August 26th. Scotts Miracle-Gro’s dividend payout ratio is 55.48%.
In other news, major shareholder Robert Hagedorn sold 30,732 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $132.08, for a total transaction of $4,059,082.56. Following the completion of the transaction, the insider now directly owns 14,778,221 shares of the company’s stock, valued at $1,951,907,429.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Katherine Littlefield Hagedorn sold 2,228 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $132.08, for a total transaction of $294,274.24. Following the transaction, the director now directly owns 5,980 shares of the company’s stock, valued at $789,838.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 62,800 shares of company stock valued at $8,498,725. Insiders own 28.20% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in SMG. Rockefeller Capital Management L.P. raised its stake in Scotts Miracle-Gro by 392.0% in the first quarter. Rockefeller Capital Management L.P. now owns 246 shares of the basic materials company’s stock worth $25,000 after buying an additional 196 shares in the last quarter. Toronto Dominion Bank bought a new position in Scotts Miracle-Gro in the first quarter worth about $27,000. Benjamin F. Edwards & Company Inc. raised its stake in Scotts Miracle-Gro by 62.8% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 311 shares of the basic materials company’s stock worth $32,000 after buying an additional 120 shares in the last quarter. Harbor Investment Advisory LLC raised its stake in Scotts Miracle-Gro by 192.5% in the first quarter. Harbor Investment Advisory LLC now owns 351 shares of the basic materials company’s stock worth $36,000 after buying an additional 231 shares in the last quarter. Finally, Bartlett & Co. LLC bought a new position in Scotts Miracle-Gro in the first quarter worth about $41,000. 64.86% of the stock is owned by 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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