Scotts Miracle-Gro (NYSE:SMG) Hits New 1-Year Low at $73.18

Shares of The Scotts Miracle-Gro Company (NYSE:SMGGet Rating) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $73.18 and last traded at $74.04, with a volume of 3024 shares traded. The stock had previously closed at $76.34.

Several research firms have recently commented on SMG. Barclays downgraded Scotts Miracle-Gro from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $150.00 to $110.00 in a research note on Thursday, April 21st. Stifel Nicolaus cut their price target on Scotts Miracle-Gro from $116.00 to $93.00 in a report on Tuesday, June 14th. JPMorgan Chase & Co. cut Scotts Miracle-Gro from an “overweight” rating to a “neutral” rating and cut their price target for the company from $130.00 to $95.00 in a report on Thursday, June 9th. Truist Financial cut Scotts Miracle-Gro from a “buy” rating to a “hold” rating and dropped their target price for the stock from $185.00 to $85.00 in a report on Wednesday, June 8th. Finally, Raymond James dropped their target price on Scotts Miracle-Gro from $125.00 to $110.00 in a report on Thursday, June 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $119.29.

The firm has a market capitalization of $4.37 billion, a P/E ratio of 11.07 and a beta of 1.19. The company has a debt-to-equity ratio of 3.44, a quick ratio of 1.13 and a current ratio of 2.21. The business’s fifty day moving average price is $96.34 and its two-hundred day moving average price is $125.52.

Scotts Miracle-Gro (NYSE:SMGGet Rating) last released its earnings results on Tuesday, May 3rd. The basic materials company reported $5.03 EPS for the quarter, topping analysts’ consensus estimates of $4.69 by $0.34. The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.68 billion. Scotts Miracle-Gro had a net margin of 8.81% and a return on equity of 42.22%. Scotts Miracle-Gro’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same period last year, the business earned $5.64 EPS. Sell-side analysts predict that The Scotts Miracle-Gro Company will post 4.73 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, June 10th. Investors of record on Friday, May 27th were paid a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date was Thursday, May 26th. Scotts Miracle-Gro’s dividend payout ratio (DPR) is presently 37.08%.

In related news, Director Stephen L. Johnson sold 2,305 shares of Scotts Miracle-Gro stock in a transaction on Wednesday, May 4th. The shares were sold at an average price of $113.36, for a total value of $261,294.80. Following the sale, the director now owns 20,233 shares of the company’s stock, valued at approximately $2,293,612.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James Hagedorn sold 60,000 shares of Scotts Miracle-Gro stock in a transaction on Friday, May 13th. The stock was sold at an average price of $97.74, for a total transaction of $5,864,400.00. Following the sale, the chief executive officer now directly owns 261,816 shares in the company, valued at approximately $25,589,895.84. The disclosure for this sale can be found here. Insiders sold a total of 79,805 shares of company stock valued at $7,848,045 over the last quarter. 27.31% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the stock. Ellevest Inc. increased its holdings in Scotts Miracle-Gro by 177.2% in the 4th quarter. Ellevest Inc. now owns 158 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 101 shares during the last quarter. Confluence Wealth Services Inc. acquired a new position in shares of Scotts Miracle-Gro in the fourth quarter worth $26,000. Whittier Trust Co. of Nevada Inc. grew its stake in shares of Scotts Miracle-Gro by 84.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 212 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 97 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Scotts Miracle-Gro during the 1st quarter worth $27,000. Finally, Tcwp LLC purchased a new stake in shares of Scotts Miracle-Gro during the 1st quarter worth $41,000. Hedge funds and other institutional investors own 62.23% of the company’s stock.

Scotts Miracle-Gro Company Profile (NYSE:SMG)

The Scotts Miracle-Gro Company engages in the manufacture, marketing, and sale of products for lawn, garden care, and indoor and hydroponic gardening in the United States and internationally. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It provides lawn care products comprising lawn fertilizers, grass seed products, spreaders, other durable products, and outdoor cleaners, as well as lawn-related weed, pest, and disease control products; gardening and landscape products include water-soluble and continuous-release plant foods, potting mixes and garden soils, mulch and decorative groundcover products, plant-related pest and disease control products, organic garden products, and lives goods and seeding solutions.

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