Scotts Miracle-Gro (NYSE:SMG) Sets New 12-Month Low - Here's Why

Shares of The Scotts Miracle-Gro Company (NYSE:SMG - Get Free Report) reached a new 52-week low on Friday . The company traded as low as $54.81 and last traded at $54.88, with a volume of 517192 shares traded. The stock had previously closed at $57.25.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SMG shares. Stifel Nicolaus raised Scotts Miracle-Gro from a "hold" rating to a "buy" rating and decreased their target price for the stock from $78.00 to $70.00 in a research report on Tuesday, March 4th. Jefferies Financial Group began coverage on Scotts Miracle-Gro in a report on Monday, December 9th. They issued a "hold" rating and a $72.00 price objective for the company. Wells Fargo & Company dropped their target price on shares of Scotts Miracle-Gro from $85.00 to $80.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. Finally, UBS Group decreased their price target on shares of Scotts Miracle-Gro from $77.00 to $72.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $74.00.

Scotts Miracle-Gro Stock Performance

The stock has a market cap of $3.15 billion, a PE ratio of -114.13 and a beta of 1.79. The firm has a 50-day moving average price of $63.57 and a 200-day moving average price of $72.29.

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Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last issued its earnings results on Wednesday, January 29th. The basic materials company reported ($0.89) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.23) by $0.34. Scotts Miracle-Gro had a negative net margin of 0.67% and a negative return on equity of 51.48%. During the same period in the prior year, the firm earned ($1.45) EPS. As a group, sell-side analysts anticipate that The Scotts Miracle-Gro Company will post 3.42 EPS for the current fiscal year.

Scotts Miracle-Gro Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 21st were given a dividend of $0.66 per share. The ex-dividend date was Friday, February 21st. This represents a $2.64 annualized dividend and a dividend yield of 4.82%. Scotts Miracle-Gro's dividend payout ratio (DPR) is presently -550.00%.

Insiders Place Their Bets

In other news, EVP Christopher Hagedorn sold 3,568 shares of the company's stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $71.50, for a total transaction of $255,112.00. Following the completion of the sale, the executive vice president now owns 55,972 shares of the company's stock, valued at $4,001,998. This represents a 5.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Brian E. Sandoval sold 1,513 shares of the business's stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $65.86, for a total transaction of $99,646.18. Following the sale, the director now owns 13,039 shares of the company's stock, valued at $858,748.54. This trade represents a 10.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 159,937 shares of company stock valued at $11,379,275. 25.37% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SMG. Oppenheimer & Co. Inc. lifted its position in Scotts Miracle-Gro by 19.6% during the fourth quarter. Oppenheimer & Co. Inc. now owns 3,134 shares of the basic materials company's stock valued at $208,000 after purchasing an additional 514 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Scotts Miracle-Gro during the 4th quarter worth approximately $26,000. RBF Capital LLC purchased a new position in Scotts Miracle-Gro during the third quarter valued at approximately $2,601,000. Jacobs Levy Equity Management Inc. boosted its position in shares of Scotts Miracle-Gro by 1,033.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 364,045 shares of the basic materials company's stock worth $31,563,000 after purchasing an additional 331,925 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Scotts Miracle-Gro by 2.1% in the third quarter. Geode Capital Management LLC now owns 708,558 shares of the basic materials company's stock worth $61,448,000 after purchasing an additional 14,730 shares during the period. Hedge funds and other institutional investors own 74.07% of the company's stock.

About Scotts Miracle-Gro

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.