Scotts Miracle-Gro (NYSE:SMG) Trading Up 5.6% – Here’s What Happened
by Mitch Edgeman · The Markets DailyThe Scotts Miracle-Gro Company (NYSE:SMG – Get Free Report)’s stock price was up 5.6% during mid-day trading on Wednesday . The stock traded as high as $66.04 and last traded at $65.7210. Approximately 317,532 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 871,369 shares. The stock had previously closed at $62.25.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on SMG shares. UBS Group set a $67.00 price objective on Scotts Miracle-Gro in a report on Thursday, January 29th. Weiss Ratings reissued a “hold (c-)” rating on shares of Scotts Miracle-Gro in a report on Wednesday, January 21st. Stifel Nicolaus raised their target price on Scotts Miracle-Gro from $70.00 to $79.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Finally, Wells Fargo & Company reaffirmed an “overweight” rating on shares of Scotts Miracle-Gro in a research note on Tuesday, February 17th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $72.50.
Get Our Latest Stock Report on SMG
Scotts Miracle-Gro Price Performance
The company has a market cap of $3.75 billion, a P/E ratio of 43.92 and a beta of 1.96. The business’s 50 day moving average price is $65.41 and its 200-day moving average price is $60.03.
Scotts Miracle-Gro (NYSE:SMG – Get Free Report) last released its quarterly earnings results on Wednesday, January 28th. The basic materials company reported ($0.77) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.04) by $0.27. The firm had revenue of $354.40 million during the quarter, compared to analysts’ expectations of $353.25 million. Scotts Miracle-Gro had a negative return on equity of 68.59% and a net margin of 2.68%.The business’s revenue was down 3.3% on a year-over-year basis. During the same period last year, the firm posted ($0.89) EPS. Scotts Miracle-Gro has set its FY 2026 guidance at 4.150-4.35 EPS. As a group, research analysts forecast that The Scotts Miracle-Gro Company will post 3.42 EPS for the current year.
Scotts Miracle-Gro Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Friday, February 20th were given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Friday, February 20th. Scotts Miracle-Gro’s dividend payout ratio is presently 179.59%.
Insider Activity at Scotts Miracle-Gro
In related news, EVP Mark J. Scheiwer acquired 693 shares of the company’s stock in a transaction that occurred on Tuesday, February 24th. The stock was purchased at an average price of $71.44 per share, for a total transaction of $49,507.92. Following the transaction, the executive vice president directly owned 15,370 shares of the company’s stock, valued at approximately $1,098,032.80. This trade represents a 4.72% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Hagedorn Partnership, L.P. sold 50,000 shares of the company’s stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $66.40, for a total value of $3,320,000.00. Following the transaction, the director directly owned 13,167,641 shares in the company, valued at approximately $874,331,362.40. This represents a 0.38% decrease in their position. The SEC filing for this sale provides additional information. 24.40% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the business. Key Capital Management INC bought a new stake in shares of Scotts Miracle-Gro during the fourth quarter worth approximately $29,000. Covestor Ltd raised its position in shares of Scotts Miracle-Gro by 201.1% during the 3rd quarter. Covestor Ltd now owns 527 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 352 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Scotts Miracle-Gro in the 3rd quarter valued at $32,000. Hantz Financial Services Inc. boosted its position in shares of Scotts Miracle-Gro by 157.3% in the 3rd quarter. Hantz Financial Services Inc. now owns 584 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 357 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in shares of Scotts Miracle-Gro by 156.7% during the third quarter. Smartleaf Asset Management LLC now owns 634 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 387 shares during the period. 74.07% of the stock is currently owned by institutional investors and hedge funds.
About Scotts Miracle-Gro
Scotts Miracle-Gro Company is a leading developer, manufacturer and distributor of consumer lawn and garden products. The firm serves both retail and professional customers through an array of branded offerings that include lawn fertilizers, grass seed, pest and disease control solutions, plant foods and specialty products for indoor and outdoor gardening. Its portfolio spans well-known names such as Scotts®, Miracle-Gro®, Ortho® and various hydroponic and specialty garden brands.
Headquartered in Marysville, Ohio, the company traces its roots to O.M.