Scotts Miracle-Gro (NYSE:SMG) Downgraded by StockNews.com

StockNews.com cut shares of Scotts Miracle-Gro (NYSE:SMGFree Report) from a hold rating to a sell rating in a research note published on Friday morning.

Separately, Stifel Nicolaus lifted their target price on Scotts Miracle-Gro from $49.00 to $55.00 and gave the stock a hold rating in a report on Monday, February 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $67.86.

Check Out Our Latest Research Report on SMG

Scotts Miracle-Gro Price Performance

NYSE SMG opened at $57.88 on Friday. The company has a current ratio of 2.20, a quick ratio of 0.67 and a debt-to-equity ratio of 19.50. Scotts Miracle-Gro has a 12 month low of $43.67 and a 12 month high of $88.61. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of -8.22 and a beta of 1.67. The company’s 50 day moving average is $60.08 and its two-hundred day moving average is $55.20.

Scotts Miracle-Gro (NYSE:SMGGet Free Report) last announced its quarterly earnings results on Wednesday, February 7th. The basic materials company reported ($1.45) EPS for the quarter, topping the consensus estimate of ($1.62) by $0.17. The business had revenue of $410.40 million for the quarter, compared to analysts’ expectations of $412.83 million. Scotts Miracle-Gro had a negative net margin of 11.52% and a negative return on equity of 44.37%. The business’s quarterly revenue was down 22.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.02) EPS. As a group, research analysts anticipate that Scotts Miracle-Gro will post 2.63 earnings per share for the current year.

Scotts Miracle-Gro Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 8th. Investors of record on Friday, February 23rd will be given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 4.56%. The ex-dividend date of this dividend is Thursday, February 22nd. Scotts Miracle-Gro’s payout ratio is currently -37.50%.

Insider Buying and Selling

In related news, Director Hagedorn Partnership, L.P. sold 46,525 shares of the stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $61.23, for a total transaction of $2,848,725.75. Following the sale, the director now directly owns 13,923,770 shares of the company’s stock, valued at $852,552,437.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Hagedorn Partnership, L.P. sold 46,525 shares of the stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $61.23, for a total value of $2,848,725.75. Following the completion of the sale, the director now owns 13,923,770 shares of the company’s stock, valued at approximately $852,552,437.10. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Julie Demuesy sold 2,109 shares of the stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $56.72, for a total transaction of $119,622.48. Following the sale, the senior vice president now directly owns 17,245 shares in the company, valued at approximately $978,136.40. The disclosure for this sale can be found here. Corporate insiders own 26.46% of the company’s stock.

Institutional Investors Weigh In On Scotts Miracle-Gro

Institutional investors have recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC raised its holdings in Scotts Miracle-Gro by 5.0% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,994,632 shares of the basic materials company’s stock worth $348,326,000 after purchasing an additional 237,463 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Scotts Miracle-Gro by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 4,640,383 shares of the basic materials company’s stock valued at $239,815,000 after purchasing an additional 35,002 shares during the last quarter. BlackRock Inc. boosted its position in shares of Scotts Miracle-Gro by 4.6% in the 2nd quarter. BlackRock Inc. now owns 4,208,020 shares of the basic materials company’s stock valued at $263,801,000 after purchasing an additional 183,915 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Scotts Miracle-Gro by 62.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,330,654 shares of the basic materials company’s stock worth $161,837,000 after buying an additional 1,283,911 shares during the last quarter. Finally, Earnest Partners LLC increased its position in Scotts Miracle-Gro by 4.2% during the third quarter. Earnest Partners LLC now owns 2,711,024 shares of the basic materials company’s stock worth $140,106,000 after buying an additional 108,593 shares during the period. 70.10% of the stock is owned by hedge funds and other institutional investors.

About Scotts Miracle-Gro

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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.

Further Reading

Analyst Recommendations for Scotts Miracle-Gro (NYSE:SMG)

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