Scotts Miracle-Gro (NYSE:SMG) Stock Price Down 7.1% – Should You Sell?

Shares of The Scotts Miracle-Gro Company (NYSE:SMG) fell 7.1% during trading on Wednesday . The stock traded as low as $67.07 and last traded at $67.8970. Approximately 85,270 shares changed hands during trading, a decline of 91% from the average session volume of 934,010 shares. The stock had previously closed at $73.10.

Analyst Ratings Changes

SMG has been the topic of a number of analyst reports. 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. Weiss Ratings reissued a “hold (c)” rating on shares of Scotts Miracle-Gro in a research note on Monday, May 4th. Wall Street Zen upgraded Scotts Miracle-Gro from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. UBS Group lifted their target price on shares of Scotts Miracle-Gro from $63.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $79.00 price target on shares of Scotts Miracle-Gro in a research report on Wednesday, April 29th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $73.00.

Scotts Miracle-Gro Stock Down 4.5%

The company has a market cap of $4.06 billion, a PE ratio of 38.71 and a beta of 1.81. The company’s fifty day moving average is $64.28 and its 200-day moving average is $64.15.

Scotts Miracle-Gro (NYSE:SMG) last announced its earnings results on Wednesday, July 29th. The basic materials company reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.34. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.17 billion. Scotts Miracle-Gro had a net margin of 3.27% and a negative return on equity of 79.61%. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.59 EPS. Equities research analysts expect that The Scotts Miracle-Gro Company will post 4.3 EPS for the current fiscal year.

Scotts Miracle-Gro Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Friday, August 21st will be issued a $0.66 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $2.64 annualized dividend and a dividend yield of 3.8%. Scotts Miracle-Gro’s payout ratio is presently 147.49%.

Institutional Trading of Scotts Miracle-Gro

A number of hedge funds have recently bought and sold shares of SMG. Rehmann Capital Advisory Group boosted its position in Scotts Miracle-Gro by 4.2% in the fourth quarter. Rehmann Capital Advisory Group now owns 4,690 shares of the basic materials company’s stock worth $275,000 after purchasing an additional 187 shares during the last quarter. Baader Bank Aktiengesellschaft increased its holdings in Scotts Miracle-Gro by 3.9% during the first quarter. Baader Bank Aktiengesellschaft now owns 5,193 shares of the basic materials company’s stock valued at $312,000 after buying an additional 193 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake 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 in the last quarter. GAMMA Investing LLC increased its position in Scotts Miracle-Gro by 7.3% in the second quarter. GAMMA Investing LLC now owns 3,200 shares of the basic materials company’s stock worth $218,000 after buying an additional 218 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its holdings in Scotts Miracle-Gro by 6.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 5,077 shares of the basic materials company’s stock worth $296,000 after acquiring an additional 294 shares in the last quarter. Hedge funds and other institutional investors own 74.07% of the company’s stock.

Scotts Miracle-Gro Company Profile

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.