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

Scotts Miracle-Gro Co (NYSE:SMG) saw some unusual options trading on Thursday. Stock traders purchased 1,934 put options on the company. This represents an increase of approximately 3,692% compared to the average daily volume of 51 put options.

Scotts Miracle-Gro (NYSE:SMG) traded down $1.69 during midday trading on Wednesday, hitting $90.27. 2,710,659 shares of the stock were exchanged, compared to its average volume of 606,970. Scotts Miracle-Gro has a 1-year low of $81.48 and a 1-year high of $110.12. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.62 and a quick ratio of 0.87. The firm has a market capitalization of $5,190.00, a P/E ratio of 22.68, a PEG ratio of 2.54 and a beta of 0.36.

Scotts Miracle-Gro (NYSE:SMG) last posted its quarterly earnings results on Tuesday, January 30th. The basic materials company reported ($1.08) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.92) by ($0.16). Scotts Miracle-Gro had a return on equity of 37.81% and a net margin of 7.51%. The company had revenue of $221.50 million during the quarter, compared to analyst estimates of $237.21 million. During the same period last year, the company posted ($0.96) earnings per share. The company’s revenue was down 10.3% compared to the same quarter last year. analysts anticipate that Scotts Miracle-Gro will post 4.3 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Friday, February 23rd will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Thursday, February 22nd. Scotts Miracle-Gro’s dividend payout ratio (DPR) is presently 53.27%.

In other news, EVP Ivan C. Smith sold 6,587 shares of the stock in a transaction on Friday, November 17th. The stock was sold at an average price of $97.74, for a total value of $643,813.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 29.14% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of SMG. TimesSquare Capital Management LLC acquired a new position in shares of Scotts Miracle-Gro in the second quarter worth $61,566,000. FIL Ltd increased its position in Scotts Miracle-Gro by 39.2% during the second quarter. FIL Ltd now owns 664,781 shares of the basic materials company’s stock worth $59,472,000 after buying an additional 187,264 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its position in Scotts Miracle-Gro by 17.7% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,046,557 shares of the basic materials company’s stock worth $101,873,000 after buying an additional 157,174 shares during the last quarter. Janus Henderson Group PLC acquired a new position in Scotts Miracle-Gro during the second quarter worth $13,178,000. Finally, APG Asset Management N.V. acquired a new position in Scotts Miracle-Gro during the fourth quarter worth $6,103,000. 69.19% of the stock is currently owned by institutional investors and hedge funds.

SMG has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lowered Scotts Miracle-Gro from an “overweight” rating to a “neutral” rating and set a $99.00 target price for the company. in a report on Wednesday, November 8th. SunTrust Banks restated a “hold” rating and issued a $95.00 target price on shares of Scotts Miracle-Gro in a report on Friday, November 10th. Bank of America increased their target price on Scotts Miracle-Gro from $107.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, November 8th. KeyCorp restated a “hold” rating on shares of Scotts Miracle-Gro in a report on Saturday, November 25th. Finally, Zacks Investment Research lowered Scotts Miracle-Gro from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $108.75.

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Scotts Miracle-Gro Company Profile

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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