Scotts Miracle-Gro (SMG) Upgraded at ValuEngine

ValuEngine upgraded shares of Scotts Miracle-Gro (NYSE:SMG) from a sell rating to a hold rating in a report issued on Friday morning.

Other equities analysts also recently issued research reports about the stock. Bank of America set a $74.00 price objective on shares of Scotts Miracle-Gro and gave the company a sell rating in a research note on Monday, August 13th. Raymond James downgraded shares of Scotts Miracle-Gro from a market perform rating to an underperform rating in a research note on Wednesday, June 20th. Zacks Investment Research raised shares of Scotts Miracle-Gro from a strong sell rating to a hold rating in a research note on Tuesday, September 18th. Finally, JPMorgan Chase & Co. downgraded shares of Scotts Miracle-Gro from a neutral rating to an underweight rating and reduced their price objective for the company from $95.00 to $85.00 in a research note on Friday, June 1st. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $85.50.

Shares of NYSE SMG opened at $78.15 on Friday. Scotts Miracle-Gro has a 12-month low of $72.67 and a 12-month high of $110.12. The stock has a market capitalization of $4.37 billion, a price-to-earnings ratio of 19.83, a price-to-earnings-growth ratio of 5.57 and a beta of 0.25. The company has a current ratio of 1.60, a quick ratio of 0.99 and a debt-to-equity ratio of 3.72.

Scotts Miracle-Gro (NYSE:SMG) last announced its quarterly earnings results on Tuesday, July 31st. The basic materials company reported $2.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.12. Scotts Miracle-Gro had a net margin of 6.80% and a return on equity of 43.37%. The company had revenue of $994.60 million for the quarter, compared to the consensus estimate of $996.40 million. During the same quarter in the prior year, the firm earned $2.57 earnings per share. equities analysts predict that Scotts Miracle-Gro will post 3.77 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 10th. Investors of record on Monday, August 27th were paid a dividend of $0.55 per share. This is an increase from Scotts Miracle-Gro’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, August 24th. This represents a $2.20 annualized dividend and a dividend yield of 2.82%. Scotts Miracle-Gro’s dividend payout ratio is presently 55.84%.

In related news, major shareholder Hagedorn Partnership, L.P. sold 44,793 shares of the company’s stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $77.76, for a total transaction of $3,483,103.68. Following the completion of the transaction, the insider now owns 15,652,099 shares of the company’s stock, valued at $1,217,107,218.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Katherine Littlefield Hagedorn sold 40,329 shares of the company’s stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $77.76, for a total transaction of $3,135,983.04. Following the transaction, the director now directly owns 6,511 shares of the company’s stock, valued at approximately $506,295.36. The disclosure for this sale can be found here. Insiders have sold 91,422 shares of company stock worth $7,103,746 in the last three months. Insiders own 29.14% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in shares of Scotts Miracle-Gro in the second quarter worth $112,000. Asset Management One Co. Ltd. acquired a new stake in shares of Scotts Miracle-Gro in the first quarter worth $179,000. Mackay Shields LLC acquired a new stake in shares of Scotts Miracle-Gro in the first quarter worth $210,000. Atria Investments LLC acquired a new stake in shares of Scotts Miracle-Gro in the second quarter worth $211,000. Finally, South State Corp acquired a new stake in shares of Scotts Miracle-Gro in the first quarter worth $212,000. 65.41% of the stock is 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. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It offers lawn care products, including lawn fertilizers, grass seed products, spreaders, other durable products, and outdoor cleaners, as well as lawn-related weed, pest, and disease control products.

Further Reading: Understanding Price to Earnings Ratio (PE)

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Analyst Recommendations for Scotts Miracle-Gro (NYSE:SMG)

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