Scotts Miracle-Gro (NYSE:SMG) Shares Down 5.2% – Here’s What Happened

The Scotts Miracle-Gro Company (NYSE:SMG)’s stock price was down 5.2% on Monday . The company traded as low as $65.39 and last traded at $65.2740. Approximately 61,173 shares changed hands during trading, a decline of 93% from the average session volume of 926,860 shares. The stock had previously closed at $68.85.

Wall Street Analyst Weigh In

Several analysts recently commented on SMG shares. Wells Fargo & Company raised their price objective on shares of Scotts Miracle-Gro from $72.00 to $74.00 and gave the company an “overweight” rating in a research note on Wednesday. Wall Street Zen upgraded shares of Scotts Miracle-Gro from a “hold” rating to a “buy” rating in a research report on Saturday. Jefferies Financial Group reiterated a “buy” rating and set a $79.00 price target on shares of Scotts Miracle-Gro in a research report on Wednesday, April 29th. Stifel Nicolaus decreased their price target on Scotts Miracle-Gro from $76.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday, June 8th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Scotts Miracle-Gro in a report on Monday, May 4th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

Scotts Miracle-Gro Price Performance

The company has a market cap of $3.80 billion, a price-to-earnings ratio of 36.67 and a beta of 1.81. The business’s 50-day simple moving average is $62.08 and its 200-day simple moving average is $63.13.

Scotts Miracle-Gro (NYSE:SMG) last issued its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $4.53 earnings per share for the quarter, topping analysts’ consensus estimates of $3.97 by $0.56. Scotts Miracle-Gro had a net margin of 3.27% and a negative return on equity of 79.61%. The business had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same period last year, the company posted $3.98 EPS. The company’s revenue was up 2.7% on a year-over-year basis. As a group, sell-side analysts forecast that The Scotts Miracle-Gro Company will post 4.3 EPS for the current year.

Scotts Miracle-Gro Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were issued a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Friday, May 22nd. Scotts Miracle-Gro’s payout ratio is 147.49%.

Institutional Trading of Scotts Miracle-Gro

A number of large investors have recently made changes to their positions in SMG. Rehmann Capital Advisory Group raised its stake in Scotts Miracle-Gro by 4.2% in the 4th quarter. Rehmann Capital Advisory Group now owns 4,690 shares of the basic materials company’s stock valued at $275,000 after purchasing an additional 187 shares during the last quarter. Baader Bank Aktiengesellschaft raised its position in shares of Scotts Miracle-Gro by 3.9% in the 1st quarter. Baader Bank Aktiengesellschaft now owns 5,193 shares of the basic materials company’s stock worth $312,000 after buying an additional 193 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in shares of Scotts Miracle-Gro by 2.2% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 9,126 shares of the basic materials company’s stock worth $555,000 after purchasing an additional 200 shares during the period. GAMMA Investing LLC lifted its position in Scotts Miracle-Gro by 7.3% during the second quarter. GAMMA Investing LLC now owns 3,200 shares of the basic materials company’s stock valued at $218,000 after buying an additional 218 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Scotts Miracle-Gro by 6.1% during the 4th quarter. Daiwa Securities Group Inc. now owns 5,077 shares of the basic materials company’s stock valued at $296,000 after acquiring an additional 294 shares in the last quarter. Institutional investors and hedge funds own 74.07% of the company’s stock.

About Scotts Miracle-Gro

Scotts Miracle-Gro Company is a leading developer, manufacturer and distributor of consumer lawn and garden products. The firm serves both retail and professional customers through an array of branded offerings that include lawn fertilizers, grass seed, pest and disease control solutions, plant foods and specialty products for indoor and outdoor gardening. Its portfolio spans well-known names such as Scotts®, Miracle-Gro®, Ortho® and various hydroponic and specialty garden brands.

Headquartered in Marysville, Ohio, the company traces its roots to O.M.