Scotts Miracle-Gro (NYSE:SMG) Hits New 52-Week Low - Here's Why

The Scotts Miracle-Gro Company (NYSE:SMG - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $59.60 and last traded at $59.92, with a volume of 71363 shares trading hands. The stock had previously closed at $60.71.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Jefferies Financial Group assumed coverage on Scotts Miracle-Gro in a report on Monday, December 9th. They set a "hold" rating and a $72.00 price target on the stock. JPMorgan Chase & Co. reduced 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 Thursday, November 7th. Stifel Nicolaus boosted their price target on shares of Scotts Miracle-Gro from $75.00 to $81.00 and gave the stock a "hold" rating in a report on Monday, November 4th. Wells Fargo & Company dropped their price objective on shares of Scotts Miracle-Gro from $85.00 to $80.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 7th. Finally, UBS Group decreased their price objective 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. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, Scotts Miracle-Gro presently has a consensus rating of "Hold" and a consensus price target of $75.83.

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Scotts Miracle-Gro Stock Performance

The firm's 50-day moving average price is $67.13 and its two-hundred day moving average price is $73.88. The firm has a market cap of $3.21 billion, a PE ratio of -116.35 and a beta of 1.74.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The basic materials company reported ($0.89) earnings per share for the quarter, beating analysts' consensus estimates 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 previous year, the firm earned ($1.45) earnings per share. As a group, sell-side analysts predict that The Scotts Miracle-Gro Company will post 3.42 earnings per share for the current fiscal year.

Scotts Miracle-Gro Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be given a $0.66 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.73%. Scotts Miracle-Gro's dividend payout ratio (DPR) is presently -550.00%.

Insiders Place Their Bets

In other news, Director Hagedorn Partnership, L.P. sold 12,123 shares of the stock in a transaction dated 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 owns 13,432,151 shares in the company, valued at approximately $898,073,615.86. This represents a 0.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brian E. Sandoval sold 1,513 shares of the firm's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $65.86, for a total value of $99,646.18. Following the transaction, the director now directly owns 13,039 shares in the company, valued at approximately $858,748.54. This represents a 10.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 189,664 shares of company stock valued at $13,625,494 over the last quarter. Company insiders own 25.37% of the company's stock.

Institutional Trading of Scotts Miracle-Gro

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. acquired a new position in shares of Scotts Miracle-Gro in the fourth quarter valued at approximately $53,453,000. Raymond James Financial Inc. acquired a new position in Scotts Miracle-Gro in the 4th quarter valued at $39,986,000. Alyeska Investment Group L.P. purchased a new position in Scotts Miracle-Gro during the 4th quarter worth $39,434,000. Jacobs Levy Equity Management Inc. lifted its stake in shares of Scotts Miracle-Gro by 1,033.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 364,045 shares of the basic materials company's stock worth $31,563,000 after acquiring an additional 331,925 shares during the period. Finally, Schonfeld Strategic Advisors LLC lifted its stake 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 worth $31,136,000 after acquiring an additional 286,962 shares during the period. 74.07% of the stock is 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.