Scotts Miracle-Gro (NYSE:SMG) Stock Passes Above 200-Day Moving Average – Should You Sell?

The Scotts Miracle-Gro Company (NYSE:SMG) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $63.36 and traded as high as $65.18. Scotts Miracle-Gro shares last traded at $64.1450, with a volume of 710,446 shares.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SMG. Jefferies Financial Group restated a “buy” rating and set a $79.00 price objective on shares of Scotts Miracle-Gro in a report on Wednesday, April 29th. UBS Group reiterated a “neutral” rating on shares of Scotts Miracle-Gro in a research note on Tuesday, June 23rd. JPMorgan Chase & Co. downgraded shares of Scotts Miracle-Gro from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $70.00 to $67.00 in a research report on Thursday, March 26th. Wells Fargo & Company upped their price target on shares of Scotts Miracle-Gro from $72.00 to $74.00 and gave the company an “overweight” rating in a research note on Wednesday, July 8th. Finally, Stifel Nicolaus decreased their price target on shares of Scotts Miracle-Gro from $76.00 to $75.00 and set a “buy” rating for the company in a report on Monday, June 8th. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $71.60.

Scotts Miracle-Gro Stock Up 0.4%

The stock has a 50-day moving average of $62.20 and a 200 day moving average of $63.36. The stock has a market cap of $3.73 billion, a PE ratio of 35.84 and a beta of 1.81.

Scotts Miracle-Gro (NYSE:SMG) last posted its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $4.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.97 by $0.56. Scotts Miracle-Gro had a net margin of 3.27% and a negative return on equity of 79.61%. The company had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same period last year, the firm posted $3.98 EPS. Scotts Miracle-Gro’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, equities 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 disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were paid a $0.66 dividend. The ex-dividend date was Friday, May 22nd. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.1%. Scotts Miracle-Gro’s dividend payout ratio is presently 147.49%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Empowered Funds LLC grew its position in Scotts Miracle-Gro by 26.3% during the 1st quarter. Empowered Funds LLC now owns 7,524 shares of the basic materials company’s stock worth $413,000 after purchasing an additional 1,569 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Scotts Miracle-Gro by 18.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 149,882 shares of the basic materials company’s stock valued at $8,227,000 after buying an additional 23,446 shares during the period. Prudential Financial Inc. lifted its holdings in shares of Scotts Miracle-Gro by 34.6% in the 2nd quarter. Prudential Financial Inc. now owns 4,745 shares of the basic materials company’s stock valued at $342,000 after buying an additional 1,219 shares during the period. Invesco Ltd. boosted its stake in shares of Scotts Miracle-Gro by 71.2% in the second quarter. Invesco Ltd. now owns 247,749 shares of the basic materials company’s stock worth $16,342,000 after buying an additional 102,997 shares during the last quarter. Finally, Baird Financial Group Inc. purchased a new stake in shares of Scotts Miracle-Gro in the second quarter worth about $309,000. Hedge funds and other institutional investors 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.