Scotts Miracle-Gro (NYSE:SMG) Shares Gap Down to $73.35

The Scotts Miracle-Gro Company (NYSE:SMGGet Free Report) shares gapped down prior to trading on Monday . The stock had previously closed at $73.35, but opened at $71.46. Scotts Miracle-Gro shares last traded at $73.03, with a volume of 64,419 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SMG. StockNews.com downgraded shares of Scotts Miracle-Gro from a “hold” rating to a “sell” rating in a research note on Monday. Raymond James reiterated a “market perform” rating on shares of Scotts Miracle-Gro in a research report on Monday. Finally, Stifel Nicolaus increased their price target on shares of Scotts Miracle-Gro from $55.00 to $65.00 and gave the company a “hold” rating in a research report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $69.29.

Get Our Latest Report on SMG

Scotts Miracle-Gro Trading Down 1.2 %

The company has a quick ratio of 0.67, a current ratio of 2.20 and a debt-to-equity ratio of 19.50. The firm’s fifty day moving average price is $61.74 and its 200-day moving average price is $57.30.

Scotts Miracle-Gro (NYSE:SMGGet Free Report) last issued its earnings results on Wednesday, February 7th. The basic materials company reported ($1.45) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.62) by $0.17. Scotts Miracle-Gro had a negative net margin of 11.52% and a negative return on equity of 44.37%. The firm had revenue of $410.40 million for the quarter, compared to analysts’ expectations of $412.83 million. During the same quarter last year, the business earned ($1.02) earnings per share. The business’s revenue was down 22.1% on a year-over-year basis. As a group, analysts predict that The Scotts Miracle-Gro Company will post 2.65 EPS for the current year.

Scotts Miracle-Gro Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were issued a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 3.68%. The ex-dividend date of this dividend was Thursday, February 22nd. Scotts Miracle-Gro’s dividend payout ratio (DPR) is currently -37.50%.

Insider Activity at Scotts Miracle-Gro

In related news, Director Stephen L. Johnson sold 1,394 shares of Scotts Miracle-Gro stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $57.35, for a total value of $79,945.90. Following the sale, the director now owns 22,918 shares in the company, valued at $1,314,347.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Scotts Miracle-Gro news, Director Stephen L. Johnson sold 1,394 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $57.35, for a total transaction of $79,945.90. Following the completion of the transaction, the director now owns 22,918 shares of the company’s stock, valued at $1,314,347.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Hagedorn Partnership, L.P. sold 86,356 shares of Scotts Miracle-Gro stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $65.41, for a total value of $5,648,545.96. Following the completion of the transaction, the director now directly owns 13,777,012 shares of the company’s stock, valued at approximately $901,154,354.92. The disclosure for this sale can be found here. Insiders have sold a total of 102,750 shares of company stock worth $6,604,492 over the last quarter. Corporate insiders own 26.46% of the company’s stock.

Hedge Funds Weigh In On Scotts Miracle-Gro

Hedge funds have recently bought and sold shares of the business. Benjamin Edwards Inc. grew its stake in shares of Scotts Miracle-Gro by 146.1% during the 2nd quarter. Benjamin Edwards Inc. now owns 406 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 241 shares during the period. Garner Asset Management Corp bought a new position in shares of Scotts Miracle-Gro during the 4th quarter valued at approximately $26,000. Canada Pension Plan Investment Board bought a new position in shares of Scotts Miracle-Gro during the 1st quarter valued at approximately $27,000. Resources Management Corp CT ADV grew its stake in shares of Scotts Miracle-Gro by 2,025.0% during the 2nd quarter. Resources Management Corp CT ADV now owns 425 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 405 shares during the period. Finally, GAMMA Investing LLC bought a new position in shares of Scotts Miracle-Gro during the 4th quarter valued at approximately $29,000. Hedge funds and other institutional investors own 74.07% of the company’s stock.

Scotts Miracle-Gro Company Profile

(Get Free Report)

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.

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