Scotts Miracle-Gro (NYSE:SMG) Hits New 52-Week Low – Should You Sell?

The Scotts Miracle-Gro Company (NYSE:SMG)’s stock price hit a new 52-week low on Thursday . The company traded as low as $59.60 and last traded at $59.92, with a volume of 71363 shares traded. The stock had previously closed at $60.71.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on SMG shares. JPMorgan Chase & Co. decreased their price target on Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Wells Fargo & Company dropped their target price on Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. UBS Group reduced their price objective on Scotts Miracle-Gro from $77.00 to $72.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Stifel Nicolaus boosted their target price on Scotts Miracle-Gro from $75.00 to $81.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Finally, Jefferies Financial Group began coverage on Scotts Miracle-Gro in a research note on Monday, December 9th. They issued a “hold” rating and a $72.00 price target on the stock. Six equities research 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 stock presently has an average rating of “Hold” and a consensus target price of $75.83.

Scotts Miracle-Gro Trading Down 3.0 %

The firm has a fifty day moving average of $67.73 and a 200 day moving average of $74.13. The company has a market capitalization of $3.39 billion, a P/E ratio of -122.75 and a beta of 1.74.

Scotts Miracle-Gro (NYSE:SMG) last released 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 return on equity of 51.48% and a negative net margin of 0.67%. During the same quarter in the previous year, the company earned ($1.45) earnings per share. Sell-side analysts anticipate that The Scotts Miracle-Gro Company will post 3.42 EPS for the current fiscal year.

Scotts Miracle-Gro Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be given a dividend of $0.66 per share. The ex-dividend date is Friday, February 21st. This represents a $2.64 annualized dividend and a yield of 4.48%. Scotts Miracle-Gro’s dividend payout ratio (DPR) is presently -550.00%.

Insider Buying and Selling at Scotts Miracle-Gro

In related news, COO Nathan Eric Baxter sold 11,359 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $75.37, for a total value of $856,127.83. Following the completion of the sale, the chief operating officer now owns 51,631 shares of the company’s stock, valued at approximately $3,891,428.47. This trade represents a 18.03 % 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 500 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $77.14, for a total value of $38,570.00. Following the sale, the insider now directly owns 13,553,274 shares of the company’s stock, valued at approximately $1,045,499,556.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 190,164 shares of company stock worth $13,664,064. 25.37% of the stock is owned by insiders.

Institutional Investors Weigh In On Scotts Miracle-Gro

Large investors have recently modified their holdings of the company. Creative Planning lifted its position in shares of Scotts Miracle-Gro by 5.2% during the 3rd quarter. Creative Planning now owns 8,275 shares of the basic materials company’s stock valued at $717,000 after acquiring an additional 411 shares during the period. Blue Trust Inc. grew its stake in shares of Scotts Miracle-Gro by 83.6% during the 3rd quarter. Blue Trust Inc. now owns 369 shares of the basic materials company’s stock valued at $32,000 after buying an additional 168 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Scotts Miracle-Gro by 70.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,898 shares of the basic materials company’s stock valued at $338,000 after purchasing an additional 1,611 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Scotts Miracle-Gro by 90.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,512 shares of the basic materials company’s stock worth $129,000 after acquiring an additional 719 shares in the last quarter. Finally, PFG Investments LLC purchased a new stake in Scotts Miracle-Gro during the 3rd quarter worth $267,000. 74.07% of the stock is owned by institutional investors and hedge funds.

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.