UP!

SMG $68.52

SMG target price
68.52
0
0
The Scotts Miracle-Gro Company
Type
Public
Traded as NYSE: SMG
S&P 400 Component
Industry Manufacturing
Founded 1868; 149 years ago (1868)
Headquarters Marysville, Ohio, U.S.
Key people
O.M. Scott, Founder
James Hagedorn, CEO, and Chairman of the Board
Michael Lukemire, COO and President
Products Products for lawn and garden care
Revenue Increase$2.82 Billion USD (2013)
Net income
Increase$174.4 Million USD (2013)
Number of employees
8,000+
Website scottsmiraclegro.com

The Scotts Miracle-Gro Company is an American multinational corporation headquartered in Marysville, Ohio, where O.M. Scott began selling lawn seed in 1868. The company is considered an industry leader in the lawn and garden market, with regional offices and research facilities across the U.S. and businesses in Canada, Europe and Asia Pacific. In the U.S., the company's Scotts, Miracle-Gro and Ortho brands are market leading in their categories, as is the consumer Roundup brand, which is marketed in North America and most of Europe exclusively by Scotts. Outside of North America, the company's brands include Miracle-Gro, Evergreen, KB, Fertiligene, Celaflor and Substral.

The Scotts Miracle-Gro Company manufactures provides do-it-yourself lawn, garden and home protection products in North America, Europe, and Asia Pacific. Among their offerings are consumer fertilizers, plant foods, soils and mulches, pest controls, grass seed and bird food. The company's principal consumer brands in North America are Scotts, Miracle-Gro, and Ortho. In addition, Scotts is Monsanto's exclusive agent for the marketing and distribution of consumer Roundup.

Scotts LawnService serves the "do-it-for-me" consumer in the U.S. with on-site lawn, tree and shrub fertilization, insect control and other related services through its network of 160 locations. Scotts LawnService is considered a leader of this USD$5 billion category.

In 2013, the company reported net sales of $2.82 billion, a 9% increase in the second half of the year, and an adjusted income of $174.4 million.

Scotts was founded in 1868, by Orlando Scott as a premium seed company for the U.S. agricultural industry. In the early 1900s, the company began a lawn grass seed business for homeowners and, in 1924, became the first to ship grass seed products directly to stores. Prior to that, consumers could purchase Scotts seed only through the mail. By 1940, Scotts's sales had reached $1,000,000 and the company had 66 associates.

For the next 15 years the company focused on developing new products to combat weeds, fertilize grass and develop automated electronic seed processing and packaging plants.

In the early 1960s, Scotts started selling a "program" of products for lawns; established special training classes to help retailers better assist customers in developing their lawns; received a U.S. Patent for Trionized bonding which produced fertilizers that delivered sustained feeding; and introduced a complete line of Turf Builder combination products. By the end of 1971, the company had added two new divisions to its portfolio: the Golf Course Division, developed to promote an exclusive line of professional products for golf courses and other large institutional accounts; and Scotts LawnService, established after Scotts found a significant "do-it-for-me" customer segmentation. The service offers on-site lawn, tree and shrub fertilization, insect control and other related services through its network of 160 locations. The company also launched a direct-to-consumer helpline allowing lawn owners to call Scotts for advice and assistance.

Later that year, privately owned O.M. Scott & Sons was purchased by ITT, the international business conglomerate. Fifteen years later, Scotts became an independent company through a leveraged buyout from ITT. In 1992, Scotts became a publicly traded company with an initial offering of $19.00 a share. Three years later, it merged with Miracle-Gro, a gardening company, to create the Scotts Miracle-Gro Company.

During the United States presidential election, 2012 the company endorsed the election of Republican Party candidate Mitt Romney

On January 27, 2012, Scotts Miracle-Gro agreed to plead guilty in federal court and pay $4.5 million in fines for selling 73 million units of bird seed from November 2005 to March 2008 that was coated with pesticide known to be deadly to birds and fish. Pesticides were added to protect the product from insects during storage, notwithstanding that Storcide II, one of the pesticides used, was clearly marked as extremely toxic to birds. Records show that its own experts warned of the risk in the summer and fall of 2007 and yet Scotts continued to sell the deadly product until March 2008. In 2008, Scotts Miracle-Gro also falsified pesticide registration numbers required by the U.S. Environmental Protection Agency on its products.

On September 7, 2012, in Ohio, a federal court sentenced Scotts to pay a $4 million fine and perform community service for 11 criminal violations of the Federal Insecticide, Fungicide and Rodenticide Act (FIFRA). In a separate agreement with the Environmental Protection Agency, Scotts agreed to pay more than $6 million in penalties and spend $2 million on environmental projects. According to the Justice Department, both the criminal and civil settlements are the largest under FIFRA to date.

Scotts has developed several genetically modified grasses, including herbicide-tolerant Kentucky bluegrass and creeping bentgrass. In 2007, the U.S. Department of Agriculture fined Scotts Miracle-Gro $500,000 when modified DNA from GM creeping bentgrass, was found within relatives of the same genus (Agrostis) as well as in native grasses up to 21 km (13 mi) from the test sites.

In 2001 Scotts was involved in a major dispute with nature conservation bodies and the UK Government about the future of several peat bogs in the north of England. Under pressure from the European Union the UK government moved to declare a number of peat bogs, covering an area of 4097 acres in Yorkshire and Cumbria, as Special Areas of Conservation, thus ending Scotts ability to harvest peat for their garden products. During the course of the dispute Nick Kirkbride, the then managing director of Scotts in Britain, described the peat bogs as having "no more conservation interest than a ploughed field". The peat bogs were eventually saved from further destruction by the payment by the UK government of compensation of £17 million to Scotts for loss of the right to extract peat.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q4 2022 2022-11-02 Future report Set alerts
Q3 2022 2022-08-03 1.98 1.98
Q2 2022 2022-05-03 5.03 5.03
Q1 2022 2022-02-01 -0.88 -0.88
Q4 2021 2021-11-03 -0.82 -0.82
Q3 2021 2021-08-04 3.98 3.98
Q2 2021 2021-05-05 5.64 5.64
Q1 2021 2021-02-03 0.39 0.39
Q4 2020 2020-11-04 0.00 0.00
Q3 2020 2020-07-29 3.80 3.57

Ratings

2016-03-30 Boost Price Target SunTrust Buy $85.00
2016-03-30 Boost Price Target SunTrust Banks Inc. Buy $85.00
2016-03-22 Downgrade JPMorgan Chase & Co. Overweight to Neutral $70.00
2016-02-22 Reiterated Rating William Blair Outperform
2016-02-02 Reiterated Rating William Blair Buy
2015-09-18 Reiterated Rating William Blair Buy
2015-08-05 Upgrade Tigress Financial Neutral to Buy
2015-03-11 Upgrade SunTrust Neutral to Buy $65.00 to $80.00
2014-11-06 Reiterated Rating Bank of America Underperform $60.00 to $64.00
2014-11-06 Reiterated Rating Bank of America Corp. Underperform $60.00 to $64.00
2014-10-10 Reiterated Rating Bank of America Underperform $58.00 to $60.00
2014-05-06 Boost Price Target BMO Capital Markets Outperform $67.00 to $68.00
2014-04-24 Upgrade BMO Capital Markets Market Perform to Outperform $60.00 to $67.00
2013-12-16 Initiated Coverage KeyBanc Hold
2013-12-16 Boost Price Target BMO Capital Markets $2.00 to $60.00
2013-11-08 Upgrade BMO Capital Markets Underperform to Market Perform $50.00 to $58.00
2013-10-17 Upgrade JPMorgan Chase & Co. Neutral to Overweight $54.00 to $65.00
2013-09-18 Initiated Coverage Janney Montgomery Scott Neutral
2011-05-04 Downgrade RBC Capital Mkts Outperform to Sector Perform $62 to $61
2010-01-15 Upgrade CL King Accumulate to Strong Buy $49
2009-09-09 Upgrade Longbow Neutral to Buy $55
2009-07-20 Upgrade Sun Trust Rbsn Humphrey Neutral to Buy $50
2009-07-06 Downgrade Sun Trust Rbsn Humphrey Buy to Neutral
2009-06-30 Initiated Longbow Neutral
2009-06-08 Upgrade BMO Capital Markets Market Perform to Outperform
2009-04-27 Reiterated CL King Accumulate $38 to $45
2009-02-04 Upgrade CL King Neutral to Accumulate
2016-03-30 Boost Price Target SunTrust Buy $85.00
2016-03-30 Boost Price Target SunTrust Banks Inc. Buy $85.00
2016-03-22 Downgrade JPMorgan Chase & Co. Overweight to Neutral $70.00
2016-02-22 Reiterated Rating William Blair Outperform
2016-02-02 Reiterated Rating William Blair Buy

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
Hagedorn Partnership, L.P. 25.69%  (15723259) SMG /
HAGEDORN SUSAN 5.05%  (3090567) SMG /
HAGEDORN PAUL 3.72%  (2277751) SMG /
HAGEDORN ROBERT 3.34%  (2044599) SMG /
HAGEDORN PETER 2.99%  (1832233) SMG /
SMG Growing Media, Inc. 0.64%  (390092) SMG /
HAGEDORN JAMES Chairman and CEO 0.18%  (110897) SMG /
Hanft Adam 0.08%  (50022) SMG /
Lukemire Michael C EVP, Business Execution 0.07%  (44232) SMG /
Mistretta Nancy G. 0.04%  (27124) SMG /
Coleman Thomas Randal EVP and CFO 0.04%  (25823) SMG /
Smith Ivan C EVP, GC and Secretary 0.04%  (22948) SMG /
KELLY THOMAS N JR 0.04%  (22348) GME / SMG /
PORTER MICHAEL E 0.04%  (22204) MACK / PTC / SMG /
FINN BRIAN D 0.04%  (21874) BKCC / SMG /
STUMP DENISE EVP, Global Human Resources 0.03%  (16635) SMG /
Johnson Stephen L 0.03%  (16581) SMG /
BARRY ALAN H 0.03%  (15913) SMG /
Vines John R 0.03%  (15356) SMG /
MCCANN JAMES F 0.02%  (13942) FLWS / SMG / WSH /
Johnson Michelle A 0.01%  (8074) SMG /
HAGEDORN KATHERINE LITTLEFIELD 0.01%  (6511) SMG /
Shumlin Peter E 0.01%  (4613) SMG /