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 Dividends reports. Shareholders of record on Friday, November 22nd will be given 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 yield of 3.51%. The ex-dividend date of this dividend is Friday, November 22nd.

Scotts Miracle-Gro has raised its dividend by an average of 3.2% per year over the last three years. Scotts Miracle-Gro has a dividend payout ratio of 76.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect Scotts Miracle-Gro to earn $4.09 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 64.5%.

Scotts Miracle-Gro Price Performance

SMG opened at $75.18 on Thursday. Scotts Miracle-Gro has a 12 month low of $53.43 and a 12 month high of $93.90. The business has a 50 day simple moving average of $81.78 and a 200-day simple moving average of $72.78.

Wall Street Analyst Weigh In

Several brokerages have commented on SMG. Wells Fargo & Company decreased their target price on shares of Scotts Miracle-Gro from $95.00 to $85.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Stifel Nicolaus boosted their price objective on shares of Scotts Miracle-Gro from $75.00 to $81.00 and gave the stock a “hold” rating in a report on Monday, November 4th. JPMorgan Chase & Co. dropped their target price on shares of Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Truist Financial reduced their price target on shares of Scotts Miracle-Gro from $90.00 to $70.00 and set a “hold” rating for the company in a research report on Friday, November 8th. Finally, UBS Group lowered their price target on Scotts Miracle-Gro from $90.00 to $77.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $78.60.

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.