The Scotts Miracle-Gro Company (NYSE:SMG) Declares Quarterly Dividend of $0.66

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 annualized dividend and a dividend yield of 2.82%. The ex-dividend date is Friday, November 22nd.

Scotts Miracle-Gro has raised its dividend payment by an average of 3.2% per year over the last three years. Scotts Miracle-Gro has a dividend payout ratio of 70.4% meaning its dividend is sufficiently covered by earnings. Equities 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 %

SMG traded up $1.97 during trading on Tuesday, reaching $93.52. 1,001,158 shares of the company were exchanged, compared to its average volume of 790,111. The company has a market cap of $5.31 billion, a price-to-earnings ratio of -19.47 and a beta of 1.76. Scotts Miracle-Gro has a 12-month low of $48.29 and a 12-month high of $93.90. The company’s 50-day moving average is $80.28 and its two-hundred day moving average is $72.19.

Wall Street Analysts Forecast Growth

SMG has been the subject of a number of analyst reports. Stifel Nicolaus raised their price objective on shares of Scotts Miracle-Gro from $75.00 to $81.00 and gave the company a “hold” rating in a research report on Monday. Wells Fargo & Company raised their price target on shares of Scotts Miracle-Gro from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Finally, Truist Financial upped their price target on shares of Scotts Miracle-Gro from $65.00 to $90.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $85.25.

Insider Buying and Selling at Scotts Miracle-Gro

In related news, COO Nathan Eric Baxter sold 2,988 shares of the company’s stock in a transaction 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 transaction, the chief operating officer now directly owns 37,920 shares in the company, valued at approximately $2,689,665.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO Nathan Eric Baxter sold 2,988 shares of the firm’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 transaction, the chief operating officer now directly owns 37,920 shares of the company’s stock, valued at approximately $2,689,665.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of the business’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 value of $6,038,270.90. Following the completion of the sale, the insider now owns 13,608,238 shares of the company’s stock, valued at $965,232,321.34. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 26.46% of the stock is currently owned by company insiders.

Scotts Miracle-Gro Company Profile

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.