Scotts Miracle-Gro (NYSE:SMG) Shares Gap Down – Time to Sell?

The Scotts Miracle-Gro Company (NYSE:SMG) gapped down prior to trading on Monday . The stock had previously closed at $69.91, but opened at $65.06. Scotts Miracle-Gro shares last traded at $67.5720, with a volume of 105,584 shares traded.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SMG. Stifel Nicolaus lowered their price objective on shares of Scotts Miracle-Gro from $76.00 to $75.00 and set a “buy” rating on the stock in a research report on Monday, June 8th. Jefferies Financial Group reiterated a “buy” rating and issued a $79.00 target price on shares of Scotts Miracle-Gro in a research report on Wednesday, April 29th. JPMorgan Chase & Co. lowered shares of Scotts Miracle-Gro from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $70.00 to $67.00 in a research note on Thursday, March 26th. Weiss Ratings restated a “hold (c)” rating on shares of Scotts Miracle-Gro in a report on Monday, May 4th. Finally, UBS Group restated a “neutral” rating on shares of Scotts Miracle-Gro in a report on Tuesday, June 23rd. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $72.67.

Scotts Miracle-Gro Trading Up 0.5%

The company’s fifty day moving average is $61.80 and its 200-day moving average is $62.77. The firm has a market capitalization of $3.96 billion, a P/E ratio of 38.02 and a beta of 1.84.

Scotts Miracle-Gro (NYSE:SMG) last announced its earnings results on Wednesday, April 29th. The basic materials company reported $4.53 EPS for the quarter, topping the consensus estimate of $3.97 by $0.56. The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.41 billion. Scotts Miracle-Gro had a net margin of 3.27% and a negative return on equity of 79.61%. The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the firm posted $3.98 EPS. On average, equities research analysts anticipate that The Scotts Miracle-Gro Company will post 4.3 EPS for the current year.

Scotts Miracle-Gro Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were given a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Friday, May 22nd. Scotts Miracle-Gro’s dividend payout ratio (DPR) is currently 147.49%.

Hedge Funds Weigh In On Scotts Miracle-Gro

Large investors have recently made changes to their positions in the business. Cassaday & Co Wealth Management LLC acquired a new stake in Scotts Miracle-Gro in the 1st quarter valued at approximately $26,000. Key Capital Management INC bought a new position in Scotts Miracle-Gro in the 4th quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd bought a new position in Scotts Miracle-Gro in the 3rd quarter worth approximately $32,000. SBI Securities Co. Ltd. lifted its holdings in shares of Scotts Miracle-Gro by 127.9% during the fourth quarter. SBI Securities Co. Ltd. now owns 889 shares of the basic materials company’s stock worth $52,000 after buying an additional 499 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of Scotts Miracle-Gro during the fourth quarter worth approximately $53,000. Institutional investors and hedge funds own 74.07% of the company’s stock.

About Scotts Miracle-Gro

Scotts Miracle-Gro Company is a leading developer, manufacturer and distributor of consumer lawn and garden products. The firm serves both retail and professional customers through an array of branded offerings that include lawn fertilizers, grass seed, pest and disease control solutions, plant foods and specialty products for indoor and outdoor gardening. Its portfolio spans well-known names such as Scotts®, Miracle-Gro®, Ortho® and various hydroponic and specialty garden brands.

Headquartered in Marysville, Ohio, the company traces its roots to O.M.