Scotts Miracle-Gro Target of Unusually Large Options Trading (NYSE:SMG)

The Scotts Miracle-Gro Company (NYSE:SMGGet Free Report) was the target of some unusual options trading on Monday. Investors acquired 7,114 call options on the stock. This is an increase of 429% compared to the typical volume of 1,346 call options.

Analyst Ratings Changes

SMG has been the subject of several recent research reports. Raymond James reiterated a “market perform” rating on shares of Scotts Miracle-Gro in a research report on Monday, March 25th. StockNews.com upgraded Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a research note on Thursday, April 4th. JPMorgan Chase & Co. lifted their price target on Scotts Miracle-Gro from $70.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Truist Financial lowered Scotts Miracle-Gro from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $65.00 to $75.00 in a report on Friday, April 5th. Finally, Stifel Nicolaus raised their target price on shares of Scotts Miracle-Gro from $55.00 to $65.00 and gave the company a “hold” rating in a research note on Monday, March 4th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $73.00.

Check Out Our Latest Stock Report on SMG

Insider Buying and Selling at Scotts Miracle-Gro

In related news, Director Hagedorn Partnership, L.P. sold 31,000 shares of Scotts Miracle-Gro stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $69.67, for a total value of $2,159,770.00. Following the completion of the sale, the director now owns 13,746,012 shares of the company’s stock, valued at approximately $957,684,656.04. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 26.46% of the stock is owned by corporate insiders.

Institutional Trading of Scotts Miracle-Gro

Several institutional investors have recently added to or reduced their stakes in SMG. Pathway Financial Advisers LLC bought a new stake in Scotts Miracle-Gro in the first quarter valued at approximately $479,000. Cetera Advisors LLC raised its holdings in Scotts Miracle-Gro by 65.0% during the 1st quarter. Cetera Advisors LLC now owns 5,198 shares of the basic materials company’s stock valued at $388,000 after buying an additional 2,048 shares during the last quarter. Cetera Investment Advisers boosted its position in Scotts Miracle-Gro by 974.4% during the 1st quarter. Cetera Investment Advisers now owns 41,987 shares of the basic materials company’s stock valued at $3,132,000 after buying an additional 38,079 shares during the period. Atria Investments Inc boosted its position in Scotts Miracle-Gro by 22.9% during the 1st quarter. Atria Investments Inc now owns 38,820 shares of the basic materials company’s stock valued at $2,896,000 after buying an additional 7,231 shares during the period. Finally, LRI Investments LLC bought a new stake in Scotts Miracle-Gro in the 1st quarter worth $123,000. 74.07% of the stock is currently owned by hedge funds and other institutional investors.

Scotts Miracle-Gro Trading Down 0.6 %

Shares of Scotts Miracle-Gro stock opened at $67.80 on Tuesday. The business’s 50-day moving average price is $68.78 and its 200-day moving average price is $64.30. The firm has a market capitalization of $3.85 billion, a PE ratio of -10.87 and a beta of 1.77. Scotts Miracle-Gro has a 12 month low of $43.67 and a 12 month high of $77.95.

Scotts Miracle-Gro (NYSE:SMGGet Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $3.69 EPS for the quarter, beating analysts’ consensus estimates of $3.33 by $0.36. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Scotts Miracle-Gro had a negative net margin of 10.14% and a negative return on equity of 20.97%. The business’s quarterly revenue was down .4% on a year-over-year basis. During the same period last year, the business earned $3.78 earnings per share. As a group, analysts predict that Scotts Miracle-Gro will post 2.62 earnings per share for the current fiscal year.

Scotts Miracle-Gro Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 24th were paid a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 3.89%. The ex-dividend date of this dividend was Thursday, May 23rd. Scotts Miracle-Gro’s dividend payout ratio is presently -42.31%.

About Scotts Miracle-Gro

(Get Free Report)

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.

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