The Scotts Miracle-Gro Company (SMG) To Go Ex-Dividend on February 23rd

The Scotts Miracle-Gro Company (NYSE:SMGGet Rating) declared a quarterly dividend on Monday, January 23rd, Zacks reports. Stockholders of record on Friday, February 24th will be given a dividend of 0.66 per share by the basic materials company on Friday, March 10th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.28%. The ex-dividend date of this dividend is Thursday, February 23rd.

Scotts Miracle-Gro has increased its dividend payment by an average of 5.3% per year over the last three years. Scotts Miracle-Gro has a dividend payout ratio of 58.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Scotts Miracle-Gro to earn $4.60 per share next year, which means the company should continue to be able to cover its $2.64 annual dividend with an expected future payout ratio of 57.4%.

Scotts Miracle-Gro Trading Down 1.0 %

SMG opened at $61.70 on Wednesday. The stock has a market capitalization of $3.42 billion, a PE ratio of -7.85 and a beta of 1.49. The firm’s fifty day moving average price is $54.27 and its 200 day moving average price is $59.84. The company has a debt-to-equity ratio of 19.13, a current ratio of 2.06 and a quick ratio of 0.66. Scotts Miracle-Gro has a 12-month low of $39.06 and a 12-month high of $156.00.

Scotts Miracle-Gro (NYSE:SMGGet Rating) last posted its quarterly earnings results on Wednesday, November 2nd. The basic materials company reported ($2.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.02) by ($0.02). The company had revenue of $493.60 million during the quarter, compared to analyst estimates of $527.42 million. Scotts Miracle-Gro had a negative net margin of 11.15% and a positive return on equity of 38.78%. As a group, research analysts expect that Scotts Miracle-Gro will post 3.61 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on SMG shares. Stifel Nicolaus dropped their target price on shares of Scotts Miracle-Gro from $75.00 to $48.00 in a report on Thursday, October 27th. Truist Financial lowered their price target on shares of Scotts Miracle-Gro from $85.00 to $50.00 in a research report on Thursday, November 3rd. Raymond James lowered their price target on shares of Scotts Miracle-Gro from $100.00 to $56.00 and set a “strong-buy” rating for the company in a research report on Thursday, November 3rd. Barclays upgraded shares of Scotts Miracle-Gro from an “equal weight” rating to an “overweight” rating and set a $75.00 price target for the company in a research report on Tuesday, November 8th. Finally, Wells Fargo & Company lowered their price target on shares of Scotts Miracle-Gro from $75.00 to $50.00 and set an “equal weight” rating for the company in a research report on Monday, October 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $58.57.

Insider Activity at Scotts Miracle-Gro

In other Scotts Miracle-Gro news, Director Hagedorn Partnership, L.P. sold 65,742 shares of the company’s stock in a transaction dated Monday, November 28th. The shares were sold at an average price of $53.69, for a total value of $3,529,687.98. Following the completion of the sale, the director now directly owns 14,206,481 shares of the company’s stock, valued at approximately $762,745,964.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Scotts Miracle-Gro news, Director Hagedorn Partnership, L.P. sold 65,742 shares of the company’s stock in a transaction dated Monday, November 28th. The shares were sold at an average price of $53.69, for a total value of $3,529,687.98. Following the completion of the sale, the director now directly owns 14,206,481 shares of the company’s stock, valued at approximately $762,745,964.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James Hagedorn sold 50,000 shares of the company’s stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $60.77, for a total transaction of $3,038,500.00. Following the completion of the sale, the chief executive officer now directly owns 212,402 shares of the company’s stock, valued at $12,907,669.54. The disclosure for this sale can be found here. Insiders sold 195,842 shares of company stock worth $11,174,189 in the last 90 days. Corporate insiders own 27.28% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Canada Pension Plan Investment Board acquired a new stake in Scotts Miracle-Gro in the first quarter worth about $27,000. Covestor Ltd lifted its position in shares of Scotts Miracle-Gro by 144.1% during the 1st quarter. Covestor Ltd now owns 764 shares of the basic materials company’s stock valued at $94,000 after acquiring an additional 451 shares during the period. Point72 Hong Kong Ltd bought a new stake in shares of Scotts Miracle-Gro during the 1st quarter worth $205,000. Cim Investment Management Inc. raised its position in Scotts Miracle-Gro by 22.0% in the first quarter. Cim Investment Management Inc. now owns 2,021 shares of the basic materials company’s stock valued at $249,000 after purchasing an additional 365 shares during the last quarter. Finally, Captrust Financial Advisors grew its stake in Scotts Miracle-Gro by 5.7% during the second quarter. Captrust Financial Advisors now owns 3,314 shares of the basic materials company’s stock worth $262,000 after purchasing an additional 178 shares during the period. 68.98% of the stock is owned by institutional investors.

About Scotts Miracle-Gro

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The Scotts Miracle-Gro Company is involved in the manufacture, marketing, and sale of products for lawn, garden care, and indoor and hydroponic gardening in the United States and internationally. It operates through three segments: U.S. Consumer, Hawthorne, and Other. The company provides lawn care products comprising lawn fertilizers, grass seed products, spreaders, other durable products, and outdoor cleaners, as well as lawn-related weed, pest, and disease control products; gardening and landscape products comprising water-soluble and continuous-release plant foods, potting mixes and garden soils, mulch and decorative groundcover products, plant-related pest and disease control products, organic garden products, and live goods and seeding solutions.

See Also

Dividend History for Scotts Miracle-Gro (NYSE:SMG)

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