Scotts Miracle-Gro (NYSE:SMG) Price Target Cut to $72.00 by Analysts at Wells Fargo & Company

Scotts Miracle-Gro (NYSE:SMG) had its target price lowered by Wells Fargo & Company from $75.00 to $72.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the basic materials company’s stock.

Several other equities research analysts also recently issued reports on the company. UBS Group set a $67.00 price target on Scotts Miracle-Gro in a research report on Thursday, January 29th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Scotts Miracle-Gro in a research report on Wednesday, January 21st. JPMorgan Chase & Co. downgraded Scotts Miracle-Gro from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $70.00 to $67.00 in a research report on Thursday, March 26th. Finally, Stifel Nicolaus raised their price target on Scotts Miracle-Gro from $70.00 to $79.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $73.17.

Scotts Miracle-Gro Stock Performance

Shares of NYSE:SMG opened at $63.93 on Wednesday. The company has a market cap of $3.71 billion, a P/E ratio of 43.49 and a beta of 1.94. The stock’s 50-day moving average is $65.50 and its 200-day moving average is $60.26. Scotts Miracle-Gro has a 52-week low of $45.61 and a 52-week high of $72.35.

Scotts Miracle-Gro (NYSE:SMG) last issued its quarterly earnings results on Wednesday, January 28th. The basic materials company reported ($0.77) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.04) by $0.27. The company had revenue of $354.40 million for the quarter, compared to the consensus estimate of $353.25 million. Scotts Miracle-Gro had a negative return on equity of 68.59% and a net margin of 2.68%.The firm’s revenue was down 3.3% compared to the same quarter last year. During the same period last year, the business posted ($0.89) earnings per share. Scotts Miracle-Gro has set its FY 2026 guidance at 4.150-4.35 EPS. As a group, equities analysts predict that Scotts Miracle-Gro 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. Investors of record on Friday, February 20th were paid a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 4.1%. The ex-dividend date was Friday, February 20th. Scotts Miracle-Gro’s dividend payout ratio (DPR) is presently 179.59%.

Insider Activity

In related news, EVP Mark J. Scheiwer bought 693 shares of Scotts Miracle-Gro stock in a transaction that occurred on Tuesday, February 24th. The stock was acquired at an average price of $71.44 per share, for a total transaction of $49,507.92. Following the completion of the purchase, the executive vice president owned 15,370 shares in the company, valued at approximately $1,098,032.80. This represents a 4.72% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Hagedorn Partnership, L.P. sold 50,000 shares of the stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $66.40, for a total transaction of $3,320,000.00. Following the completion of the sale, the director owned 13,167,641 shares of the company’s stock, valued at approximately $874,331,362.40. The trade was a 0.38% decrease in their position. The disclosure for this sale is available in the SEC filing. 24.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Scotts Miracle-Gro

Several hedge funds have recently made changes to their positions in the stock. Versor Investments LP bought a new position in Scotts Miracle-Gro during the third quarter worth about $1,355,000. Campbell & CO Investment Adviser LLC bought a new position in Scotts Miracle-Gro during the third quarter worth about $1,425,000. Thrivent Financial for Lutherans lifted its stake in Scotts Miracle-Gro by 215.2% during the second quarter. Thrivent Financial for Lutherans now owns 31,853 shares of the basic materials company’s stock worth $2,101,000 after purchasing an additional 21,747 shares during the period. JPMorgan Chase & Co. lifted its stake in Scotts Miracle-Gro by 21.4% during the third quarter. JPMorgan Chase & Co. now owns 155,498 shares of the basic materials company’s stock worth $8,856,000 after purchasing an additional 27,422 shares during the period. Finally, SG Capital Management LLC bought a new position in Scotts Miracle-Gro during the third quarter worth about $3,032,000. 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.