Scotts Miracle-Gro (NYSE:SMG) Cut to “Neutral” at JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of Scotts Miracle-Gro (NYSE:SMG) from an overweight rating to a neutral rating in a research note issued to investors on Thursday, Marketbeat reports. The firm currently has $67.00 target price on the basic materials company’s stock, down from their prior target price of $70.00.

Other equities analysts also recently issued research reports about the stock. Stifel Nicolaus increased their price target on shares of Scotts Miracle-Gro from $70.00 to $79.00 and gave the stock a “buy” rating in a research note on Tuesday, March 3rd. UBS Group set a $67.00 price objective on shares of Scotts Miracle-Gro in a research note on Thursday, January 29th. Wells Fargo & Company restated an “overweight” rating on shares of Scotts Miracle-Gro in a report on Tuesday, February 17th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Scotts Miracle-Gro in a research report on Wednesday, January 21st. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Scotts Miracle-Gro has an average rating of “Moderate Buy” and a consensus price target of $72.83.

Scotts Miracle-Gro Trading Down 2.7%

Shares of NYSE:SMG opened at $60.52 on Thursday. The firm has a market cap of $3.51 billion, a price-to-earnings ratio of 41.17 and a beta of 1.96. The stock’s 50-day moving average price is $65.58 and its two-hundred day moving average price is $60.13. Scotts Miracle-Gro has a 12-month low of $45.61 and a 12-month high of $72.35.

Scotts Miracle-Gro (NYSE:SMG) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $353.25 million. During the same quarter in the prior year, the company posted ($0.89) EPS. The company’s quarterly 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. As a group, research analysts forecast that Scotts Miracle-Gro will post 3.42 earnings per share for the current fiscal year.

Scotts Miracle-Gro Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Friday, February 20th were given a $0.66 dividend. The ex-dividend date of this dividend was Friday, February 20th. This represents a $2.64 annualized dividend and a yield of 4.4%. Scotts Miracle-Gro’s dividend payout ratio (DPR) is 179.59%.

Insider Transactions at Scotts Miracle-Gro

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SMG. Empowered Funds LLC grew its holdings in Scotts Miracle-Gro by 26.3% during the 1st quarter. Empowered Funds LLC now owns 7,524 shares of the basic materials company’s stock valued at $413,000 after purchasing an additional 1,569 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in 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 valued at $8,227,000 after buying an additional 23,446 shares during the last quarter. Creative Planning grew its stake in shares of Scotts Miracle-Gro by 33.1% during the second quarter. Creative Planning now owns 11,308 shares of the basic materials company’s stock valued at $746,000 after acquiring an additional 2,812 shares in the last quarter. Swiss National Bank grew its stake in shares of Scotts Miracle-Gro by 5.1% during the second quarter. Swiss National Bank now owns 87,800 shares of the basic materials company’s stock valued at $5,791,000 after acquiring an additional 4,300 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of Scotts Miracle-Gro by 8.1% during the second quarter. Legal & General Group Plc now owns 75,361 shares of the basic materials company’s stock worth $4,971,000 after acquiring an additional 5,656 shares during the last quarter. 74.07% of the stock is owned by institutional investors and hedge funds.

Scotts Miracle-Gro Company Profile

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.