Scotts Miracle-Gro Company (The) (NYSE:SMG) Stock Rating Lowered by BidaskClub

BidaskClub downgraded shares of Scotts Miracle-Gro Company (The) (NYSE:SMG) from a hold rating to a sell rating in a research report report published on Tuesday, July 25th.

Separately, Zacks Investment Research lowered Scotts Miracle-Gro Company (The) from a hold rating to a sell rating in a report on Wednesday, May 3rd. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $101.00.

Scotts Miracle-Gro Company (NYSE SMG) traded down 0.03% on Tuesday, hitting $95.38. The company had a trading volume of 348,279 shares. The stock has a market capitalization of $5.65 billion, a PE ratio of 25.74 and a beta of 0.40. The stock has a 50 day moving average of $93.16 and a 200-day moving average of $91.67. Scotts Miracle-Gro Company has a one year low of $78.73 and a one year high of $99.91.

Scotts Miracle-Gro Company (The) (NYSE:SMG) last posted its earnings results on Tuesday, August 1st. The basic materials company reported $2.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.51 by $0.12. Scotts Miracle-Gro Company (The) had a return on equity of 36.28% and a net margin of 7.85%. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter last year, the company earned $2.16 earnings per share. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. Equities analysts anticipate that Scotts Miracle-Gro Company will post $4.15 EPS for the current year.

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The firm also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Friday, August 25th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.22%. This is an increase from Scotts Miracle-Gro Company (The)’s previous quarterly dividend of $0.50. The ex-dividend date is Wednesday, August 23rd. Scotts Miracle-Gro Company (The)’s dividend payout ratio (DPR) is presently 52.49%.

In related news, EVP Denise Stump sold 22,615 shares of the stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $95.05, for a total transaction of $2,149,555.75. Following the completion of the sale, the executive vice president now directly owns 19,444 shares of the company’s stock, valued at $1,848,152.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Thomas Randal Coleman sold 13,973 shares of the firm’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $96.14, for a total value of $1,343,364.22. Following the completion of the sale, the chief financial officer now directly owns 19,959 shares of the company’s stock, valued at $1,918,858.26. The disclosure for this sale can be found here. Insiders have sold 63,487 shares of company stock valued at $6,003,697 over the last ninety days. 28.16% of the stock is currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in SMG. FNY Managed Accounts LLC purchased a new stake in Scotts Miracle-Gro Company (The) during the first quarter worth about $103,000. Ropes Wealth Advisors LLC purchased a new stake in Scotts Miracle-Gro Company (The) during the first quarter worth about $121,000. Glen Harbor Capital Management LLC increased its stake in Scotts Miracle-Gro Company (The) by 2.4% in the first quarter. Glen Harbor Capital Management LLC now owns 1,392 shares of the basic materials company’s stock worth $130,000 after buying an additional 32 shares in the last quarter. Almanack Investment Partners LLC. purchased a new stake in Scotts Miracle-Gro Company (The) during the second quarter worth about $132,000. Finally, Creative Planning increased its stake in Scotts Miracle-Gro Company (The) by 4.3% in the first quarter. Creative Planning now owns 1,451 shares of the basic materials company’s stock worth $135,000 after buying an additional 60 shares in the last quarter. 68.04% of the stock is owned by institutional investors and hedge funds.

About Scotts Miracle-Gro Company (The)

The Scotts Miracle-Gro Company (Scotts Miracle-Gro) is a manufacturer and marketer of branded consumer lawn and garden products. The Company’s segments include Global Consumer. In North America, its brands include Scotts and Turf Builder lawn and grass seed products; Miracle-Gro, Nature’s Care, Scotts, LiquaFeed and Osmocote gardening and landscape products; and Ortho, Roundup, Home Defense and Tomcat branded insect control, weed control and rodent control products.

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