Scotts Miracle-Gro (NYSE:SMG) Stock Price Down 4.2% - Should You Sell?

Shares of The Scotts Miracle-Gro Company (NYSE:SMG - Get Free Report) were down 4.2% during trading on Tuesday . The stock traded as low as $85.86 and last traded at $86.04. Approximately 156,150 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 800,828 shares. The stock had previously closed at $89.84.

Wall Street Analysts Forecast Growth

Several analysts recently commented on SMG shares. Stifel Nicolaus upped their price target on shares of Scotts Miracle-Gro from $70.00 to $75.00 and gave the company a "hold" rating in a research report on Friday, August 2nd. Truist Financial upped their price target on shares of Scotts Miracle-Gro from $65.00 to $90.00 and gave the company a "hold" rating in a research report on Wednesday, October 16th. Finally, Wells Fargo & Company upped their price target on shares of Scotts Miracle-Gro from $75.00 to $85.00 and gave the company an "overweight" rating in a research report on Thursday, August 1st. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $83.75.

Scotts Miracle-Gro Price Performance

The stock's 50-day moving average is $76.99 and its 200 day moving average is $71.00. The stock has a market cap of $4.93 billion, a price-to-earnings ratio of -13.90 and a beta of 1.76.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last issued its earnings results on Wednesday, July 31st. The basic materials company reported $2.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.89 by $0.42. Scotts Miracle-Gro had a negative return on equity of 41.19% and a negative net margin of 7.38%. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the prior year, the business posted $1.17 EPS. The company's revenue for the quarter was up 7.5% on a year-over-year basis. Analysts anticipate that The Scotts Miracle-Gro Company will post 2.62 EPS for the current year.

Scotts Miracle-Gro Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were paid a $0.66 dividend. The ex-dividend date was Friday, August 23rd. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.04%. Scotts Miracle-Gro's dividend payout ratio (DPR) is presently -42.31%.

Insider Activity at Scotts Miracle-Gro

In related news, Director Stephen L. Johnson sold 960 shares of Scotts Miracle-Gro stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $77.95, for a total value of $74,832.00. Following the sale, the director now directly owns 22,940 shares in the company, valued at $1,788,173. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Scotts Miracle-Gro news, Director Stephen L. Johnson sold 960 shares of the business's stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $77.95, for a total transaction of $74,832.00. Following the sale, the director now directly owns 22,940 shares in the company, valued at approximately $1,788,173. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of the business's stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $70.93, for a total value of $6,038,270.90. Following the sale, the insider now owns 13,608,238 shares in the company, valued at approximately $965,232,321.34. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 89,078 shares of company stock worth $6,325,042 over the last three months. 26.46% of the stock is currently owned by corporate insiders.

Institutional Trading of Scotts Miracle-Gro

A number of institutional investors have recently bought and sold shares of SMG. Versant Capital Management Inc boosted its position in Scotts Miracle-Gro by 80.1% during the second quarter. Versant Capital Management Inc now owns 389 shares of the basic materials company's stock worth $25,000 after purchasing an additional 173 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Scotts Miracle-Gro in the second quarter worth $25,000. Global X Japan Co. Ltd. acquired a new position in shares of Scotts Miracle-Gro in the third quarter worth $26,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Scotts Miracle-Gro in the second quarter worth $29,000. Finally, Blue Trust Inc. raised its holdings in shares of Scotts Miracle-Gro by 83.6% in the third quarter. Blue Trust Inc. now owns 369 shares of the basic materials company's stock worth $32,000 after acquiring an additional 168 shares during the last quarter. 74.07% of the stock is currently owned by hedge funds and other institutional investors.

Scotts Miracle-Gro Company Profile

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.