Scotts Miracle-Gro Company (The) (SMG) Price Target Raised to $110.00 at Bank of America Corporation

Scotts Miracle-Gro Company (The) (NYSE:SMG) had its price target lifted by Bank of America Corporation from $107.00 to $110.00 in a report published on Wednesday. Bank of America Corporation currently has a buy rating on the basic materials company’s stock.

SMG has been the subject of several other reports. Zacks Investment Research cut Scotts Miracle-Gro Company (The) from a hold rating to a sell rating in a research report on Wednesday, October 4th. BidaskClub upgraded Scotts Miracle-Gro Company (The) from a sell rating to a hold rating in a research report on Thursday, July 13th. KeyCorp restated a hold rating on shares of Scotts Miracle-Gro Company (The) in a research report on Monday, August 28th. Finally, J P Morgan Chase & Co cut Scotts Miracle-Gro Company (The) from an overweight rating to a neutral rating and set a $99.00 price objective for the company. in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Scotts Miracle-Gro Company (The) presently has a consensus rating of Hold and an average price target of $101.33.

Shares of Scotts Miracle-Gro Company (NYSE:SMG) traded up $0.59 during mid-day trading on Wednesday, reaching $98.63. The company had a trading volume of 313,300 shares, compared to its average volume of 323,339. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.21 and a current ratio of 1.62. The stock has a market capitalization of $5,761.08, a PE ratio of 23.54, a P/E/G ratio of 2.34 and a beta of 0.37. Scotts Miracle-Gro Company has a 52 week low of $81.48 and a 52 week high of $102.50.

Scotts Miracle-Gro Company (The) (NYSE:SMG) last announced its quarterly earnings results on Tuesday, November 7th. The basic materials company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.04. The company had revenue of $376.70 million during the quarter, compared to analysts’ expectations of $368.50 million. Scotts Miracle-Gro Company (The) had a return on equity of 37.81% and a net margin of 7.51%. Scotts Miracle-Gro Company (The)’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period last year, the business earned ($0.30) earnings per share. research analysts anticipate that Scotts Miracle-Gro Company will post 4.3 EPS for the current year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 24th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend is Wednesday, November 22nd. Scotts Miracle-Gro Company (The)’s dividend payout ratio (DPR) is presently 58.89%.

In other news, Director Nancy G. Mistretta sold 5,000 shares of Scotts Miracle-Gro Company (The) stock in a transaction that occurred on Friday, October 13th. The stock was sold at an average price of $100.11, for a total value of $500,550.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman James Hagedorn sold 92,357 shares of Scotts Miracle-Gro Company (The) stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $96.41, for a total value of $8,904,138.37. Following the completion of the sale, the chairman now directly owns 115,867 shares in the company, valued at $11,170,737.47. The disclosure for this sale can be found here. Insiders sold 163,053 shares of company stock valued at $15,610,752 over the last 90 days. Company insiders own 28.16% of the company’s stock.

Several large investors have recently modified their holdings of SMG. TimesSquare Capital Management LLC acquired a new stake in shares of Scotts Miracle-Gro Company (The) in the second quarter worth approximately $61,566,000. FIL Ltd boosted its stake in shares of Scotts Miracle-Gro Company (The) by 39.2% in the second quarter. FIL Ltd now owns 664,781 shares of the basic materials company’s stock worth $59,472,000 after acquiring an additional 187,264 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Scotts Miracle-Gro Company (The) by 17.7% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,046,557 shares of the basic materials company’s stock worth $101,873,000 after acquiring an additional 157,174 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in shares of Scotts Miracle-Gro Company (The) in the second quarter worth approximately $13,178,000. Finally, Eagle Asset Management Inc. boosted its stake in shares of Scotts Miracle-Gro Company (The) by 44.5% in the second quarter. Eagle Asset Management Inc. now owns 327,304 shares of the basic materials company’s stock worth $29,280,000 after acquiring an additional 100,743 shares during the last quarter. 68.76% of the stock is currently owned by hedge funds and other institutional investors.

Scotts Miracle-Gro Company (The) Company Profile

The Scotts Miracle-Gro Company (Scotts Miracle-Gro) is a manufacturer and marketer of branded consumer lawn and garden products. The Company’s segments include Global Consumer. In North America, its brands include Scotts and Turf Builder lawn and grass seed products; Miracle-Gro, Nature’s Care, Scotts, LiquaFeed and Osmocote gardening and landscape products; and Ortho, Roundup, Home Defense and Tomcat branded insect control, weed control and rodent control products.

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