Scotts Miracle-Gro (NYSE:SMG) Reaches New 52-Week High – Here’s What Happened

The Scotts Miracle-Gro Company (NYSE:SMG) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $72.35 and last traded at $71.80, with a volume of 129833 shares traded. The stock had previously closed at $69.12.

Wall Street Analysts Forecast Growth

SMG has been the subject of a number of recent analyst reports. Jefferies Financial Group raised their price objective on shares of Scotts Miracle-Gro from $71.00 to $74.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. UBS Group set a $67.00 price target on shares of Scotts Miracle-Gro in a research note on Thursday, January 29th. Wells Fargo & Company reissued an “overweight” rating on shares of Scotts Miracle-Gro in a research report on Tuesday, February 17th. Stifel Nicolaus set a $70.00 price target on Scotts Miracle-Gro and gave the stock a “buy” rating in a research note on Thursday, November 6th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Scotts Miracle-Gro in a report on Wednesday, January 21st. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.00.

Scotts Miracle-Gro Stock Up 2.3%

The company has a market cap of $4.10 billion, a P/E ratio of 48.18 and a beta of 1.98. The company’s 50-day moving average is $62.87 and its two-hundred day moving average is $59.48.

Scotts Miracle-Gro (NYSE:SMG) last announced its quarterly earnings results on Wednesday, January 28th. The basic materials company reported ($0.77) EPS for the quarter, beating analysts’ consensus estimates of ($1.04) by $0.27. Scotts Miracle-Gro had a net margin of 2.68% and a negative return on equity of 68.59%. The company had revenue of $354.40 million for the quarter, compared to analysts’ expectations of $353.25 million. During the same period in the prior year, the company posted ($0.89) EPS. Scotts Miracle-Gro’s revenue was down 3.3% compared to the same quarter last year. Scotts Miracle-Gro has set its FY 2026 guidance at 4.150-4.35 EPS. On average, analysts anticipate that The Scotts Miracle-Gro Company will post 3.42 EPS for the current fiscal year.

Scotts Miracle-Gro Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 20th will be paid a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Friday, February 20th. Scotts Miracle-Gro’s dividend payout ratio is currently 179.59%.

Insider Buying and Selling at Scotts Miracle-Gro

In other news, Director Hagedorn Partnership, L.P. sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $66.40, for a total value of $3,320,000.00. Following the completion of the sale, the director directly owned 13,167,641 shares in the company, valued at approximately $874,331,362.40. The trade was a 0.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 24.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SMG. Empowered Funds LLC grew its stake in Scotts Miracle-Gro by 26.3% in the first quarter. Empowered Funds LLC now owns 7,524 shares of the basic materials company’s stock worth $413,000 after purchasing an additional 1,569 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Scotts Miracle-Gro by 18.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 149,882 shares of the basic materials company’s stock worth $8,227,000 after buying an additional 23,446 shares during the period. Ethic Inc. increased its stake in shares of Scotts Miracle-Gro by 19.1% in the 2nd quarter. Ethic Inc. now owns 17,287 shares of the basic materials company’s stock worth $1,136,000 after acquiring an additional 2,777 shares in the last quarter. Freedom Investment Management Inc. purchased a new position in Scotts Miracle-Gro during the 2nd quarter valued at about $253,000. Finally, AlphaQuest LLC boosted its stake in Scotts Miracle-Gro by 127.9% during the second quarter. AlphaQuest LLC now owns 6,143 shares of the basic materials company’s stock worth $405,000 after acquiring an additional 3,448 shares in the last quarter. Institutional investors own 74.07% of the company’s stock.

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.