Scotts Miracle-Gro (NYSE:SMG) Sets New 12-Month Low - Should You Sell?

The Scotts Miracle-Gro Company (NYSE:SMG - Get Free Report) shares hit a new 52-week low during trading on Wednesday . The company traded as low as $47.52 and last traded at $48.12, with a volume of 1638416 shares traded. The stock had previously closed at $52.42.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on SMG shares. Stifel Nicolaus upgraded Scotts Miracle-Gro from a "hold" rating to a "buy" rating and lowered their price objective for the company from $78.00 to $70.00 in a research note on Tuesday, March 4th. Truist Financial upgraded shares of Scotts Miracle-Gro from a "hold" rating to a "buy" rating and set a $70.00 price objective for the company in a research note on Wednesday, April 2nd. Jefferies Financial Group upgraded shares of Scotts Miracle-Gro from a "hold" rating to a "buy" rating and dropped their target price for the stock from $72.00 to $69.00 in a research note on Monday, April 7th. UBS Group reduced 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 report on Thursday, January 16th. Finally, Wells Fargo & Company cut their target price on Scotts Miracle-Gro from $80.00 to $70.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 2nd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Scotts Miracle-Gro currently has a consensus rating of "Moderate Buy" and an average target price of $71.83.

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Scotts Miracle-Gro Trading Up 0.6 %

The stock has a market cap of $2.96 billion, a P/E ratio of -107.29 and a beta of 1.96. The company's 50 day moving average price is $59.46 and its two-hundred day moving average price is $70.60.

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

Scotts Miracle-Gro Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 21st were given a $0.66 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.64 dividend on an annualized basis and a dividend yield of 5.13%. Scotts Miracle-Gro's payout ratio is currently -550.00%.

Insider Activity at Scotts Miracle-Gro

In other Scotts Miracle-Gro news, Director Hagedorn Partnership, L.P. sold 12,123 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $66.86, for a total transaction of $810,543.78. Following the completion of the sale, the director now directly owns 13,432,151 shares of the company's stock, valued at $898,073,615.86. This trade represents a 0.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO James Hagedorn sold 142,733 shares of the company's stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $71.56, for a total transaction of $10,213,973.48. Following the transaction, the chief executive officer now owns 88,310 shares of the company's stock, valued at approximately $6,319,463.60. This represents a 61.78 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 159,937 shares of company stock worth $11,379,275. 25.37% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Scotts Miracle-Gro

Several large investors have recently made changes to their positions in SMG. Point72 Asset Management L.P. purchased a new stake in shares of Scotts Miracle-Gro during the 4th quarter worth approximately $53,453,000. Raymond James Financial Inc. purchased a new position in shares of Scotts Miracle-Gro in the 4th quarter worth $39,986,000. Alyeska Investment Group L.P. purchased a new stake in shares of Scotts Miracle-Gro during the 4th quarter valued at about $39,434,000. Schonfeld Strategic Advisors LLC lifted its holdings in shares of Scotts Miracle-Gro by 157.3% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 469,336 shares of the basic materials company's stock valued at $31,136,000 after acquiring an additional 286,962 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in Scotts Miracle-Gro by 72.6% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 628,414 shares of the basic materials company's stock worth $41,689,000 after acquiring an additional 264,369 shares during the last quarter. 74.07% of the stock is owned by 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.