The Scotts Miracle-Gro Company (SMG) To Go Ex-Dividend on November 22nd

The Scotts Miracle-Gro Company (NYSE:SMG) declared a quarterly dividend on Monday, November 4th, NASDAQ reports. Stockholders of record on Friday, November 22nd will be paid a dividend of 0.66 per share by the basic materials company on Friday, December 6th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date of this dividend is Friday, November 22nd.

Scotts Miracle-Gro has raised its dividend payment by an average of 3.2% annually over the last three years. Scotts Miracle-Gro has a dividend payout ratio of 70.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Scotts Miracle-Gro to earn $3.69 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 71.5%.

Scotts Miracle-Gro Stock Up 2.2 %

Shares of NYSE:SMG opened at $93.52 on Wednesday. The business’s 50 day moving average is $80.28 and its 200 day moving average is $72.19. The stock has a market cap of $5.31 billion, a P/E ratio of -19.77 and a beta of 1.76. Scotts Miracle-Gro has a 52-week low of $48.29 and a 52-week high of $93.90.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Stifel Nicolaus raised their price target on Scotts Miracle-Gro from $75.00 to $81.00 and gave the company a “hold” rating in a research note on Monday. Truist Financial boosted their price target on shares of Scotts Miracle-Gro from $65.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company upped their price target on shares of Scotts Miracle-Gro from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $85.25.

Insider Activity

In related news, COO Nathan Eric Baxter sold 2,988 shares of Scotts Miracle-Gro stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $70.93, for a total value of $211,938.84. Following the completion of the sale, the chief operating officer now directly owns 37,920 shares in the company, valued at $2,689,665.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Scotts Miracle-Gro news, COO Nathan Eric Baxter sold 2,988 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $70.93, for a total transaction of $211,938.84. Following the sale, the chief operating officer now owns 37,920 shares in the company, valued at approximately $2,689,665.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $70.93, for a total transaction of $6,038,270.90. Following the transaction, the insider now directly owns 13,608,238 shares of the company’s stock, valued at $965,232,321.34. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 26.46% of the company’s stock.

About Scotts Miracle-Gro

The Scotts Miracle-Gro Company, together with its subsidiaries, manufactures, markets, and sells 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, and other durable products, as well as lawn-related weed, pest, and disease control products; and gardening and landscape products, which include water-soluble and continuous-release plant foods, potting mixes, garden soils, mulches and ground cover products, plant-related pest and disease control products, organic garden products, and live goods and seeding solutions.