Scotts Miracle-Gro (NYSE:SMG) Shares Gap Up to $74.35

The Scotts Miracle-Gro Company (NYSE:SMG - Get Free Report) shares gapped up prior to trading on Thursday . The stock had previously closed at $74.35, but opened at $77.00. Scotts Miracle-Gro shares last traded at $77.84, with a volume of 156,467 shares trading hands.

Analyst Ratings Changes

A number of research firms have weighed in on SMG. StockNews.com upgraded shares of Scotts Miracle-Gro from a "sell" rating to a "hold" rating in a research note on Thursday. Raymond James reiterated a "market perform" rating on shares of Scotts Miracle-Gro in a research note on Monday, March 25th. Finally, Stifel Nicolaus boosted 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 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, Scotts Miracle-Gro presently has an average rating of "Hold" and an average price target of $69.29.

Scotts Miracle-Gro Stock Performance

The company has a market capitalization of $4.20 billion, a PE ratio of -10.52 and a beta of 1.70. The stock's 50 day moving average is $63.86 and its 200 day moving average is $58.21.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last announced its quarterly earnings results on Wednesday, February 7th. The basic materials company reported ($1.45) EPS for the quarter, beating analysts' consensus estimates of ($1.62) by $0.17. The company had revenue of $410.40 million for the quarter, compared to analysts' expectations of $412.83 million. Scotts Miracle-Gro had a negative net margin of 11.52% and a negative return on equity of 44.37%. Scotts Miracle-Gro's revenue was down 22.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.02) EPS. On average, equities research analysts forecast that The Scotts Miracle-Gro Company will post 2.65 EPS for the current fiscal year.

Scotts Miracle-Gro Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date was Thursday, February 22nd. Scotts Miracle-Gro's dividend payout ratio (DPR) is presently -37.50%.

Insider Buying and Selling

In related news, Director Hagedorn Partnership, L.P. sold 86,356 shares of the company's stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $65.41, for a total transaction of $5,648,545.96. Following the sale, the director now owns 13,777,012 shares of the company's stock, valued at approximately $901,154,354.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Hagedorn Partnership, L.P. sold 86,356 shares of the company's stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $65.41, for a total transaction of $5,648,545.96. Following the sale, the director now owns 13,777,012 shares of the company's stock, valued at approximately $901,154,354.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen L. Johnson sold 1,394 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $57.35, for a total transaction of $79,945.90. Following the completion of the transaction, the director now directly owns 22,918 shares in the company, valued at approximately $1,314,347.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 102,750 shares of company stock valued at $6,604,492. Company insiders own 26.46% of the company's stock.

Hedge Funds Weigh In On Scotts Miracle-Gro

A number of institutional investors have recently made changes to their positions in the stock. Yousif Capital Management LLC grew its holdings in shares of Scotts Miracle-Gro by 0.8% during the 1st quarter. Yousif Capital Management LLC now owns 21,656 shares of the basic materials company's stock valued at $2,663,000 after purchasing an additional 170 shares during the last quarter. Prudential Financial Inc. grew its holdings in shares of Scotts Miracle-Gro by 1.9% during the 1st quarter. Prudential Financial Inc. now owns 9,487 shares of the basic materials company's stock valued at $1,166,000 after purchasing an additional 173 shares during the last quarter. Captrust Financial Advisors grew its holdings in shares of Scotts Miracle-Gro by 5.7% during the 2nd quarter. Captrust Financial Advisors now owns 3,314 shares of the basic materials company's stock valued at $262,000 after purchasing an additional 178 shares during the last quarter. Treasurer of the State of North Carolina grew its holdings in shares of Scotts Miracle-Gro by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 18,313 shares of the basic materials company's stock valued at $1,167,000 after purchasing an additional 180 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Scotts Miracle-Gro by 5.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,595 shares of the basic materials company's stock valued at $175,000 after purchasing an additional 184 shares during the last quarter. Institutional investors own 74.07% of the company's stock.

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.