Scotts Miracle-Gro Sees Unusually Large Options Volume (SMG)

Scotts Miracle-Gro Co (NYSE:SMG) saw unusually large options trading activity on Wednesday. Stock investors bought 1,989 call options on the company. This represents an increase of approximately 1,466% compared to the typical daily volume of 127 call options.

SMG has been the topic of a number of analyst reports. JPMorgan Chase & Co. upgraded shares of Scotts Miracle-Gro from an “underweight” rating to a “neutral” rating and set a $70.00 target price on the stock in a research report on Thursday, January 31st. Raymond James lowered shares of Scotts Miracle-Gro from an “outperform” rating to a “market perform” rating and set a $77.10 price target on the stock. in a report on Wednesday, March 27th. They noted that the move was a valuation call. ValuEngine raised shares of Scotts Miracle-Gro from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Bank of America lowered shares of Scotts Miracle-Gro from a “neutral” rating to an “underperform” rating and raised their price target for the stock from $81.00 to $83.00 in a report on Thursday, May 2nd. Finally, TheStreet raised shares of Scotts Miracle-Gro from a “c” rating to a “b” rating in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $76.03.

Shares of SMG traded up $0.44 during trading hours on Friday, reaching $87.84. 411,301 shares of the company traded hands, compared to its average volume of 500,224. The firm has a market capitalization of $4.83 billion, a price-to-earnings ratio of 23.68, a PEG ratio of 1.89 and a beta of 0.94. The company has a current ratio of 1.59, a quick ratio of 1.00 and a debt-to-equity ratio of 3.28. Scotts Miracle-Gro has a 12 month low of $57.96 and a 12 month high of $94.49.

Scotts Miracle-Gro (NYSE:SMG) last announced its earnings results on Wednesday, May 1st. The basic materials company reported $3.64 earnings per share for the quarter, beating analysts’ consensus estimates of $3.42 by $0.22. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. Scotts Miracle-Gro had a net margin of 8.67% and a return on equity of 53.15%. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.88 EPS. On average, research analysts forecast that Scotts Miracle-Gro will post 4.25 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Tuesday, May 28th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.50%. The ex-dividend date is Friday, May 24th. Scotts Miracle-Gro’s payout ratio is currently 59.30%.

A number of large investors have recently bought and sold shares of the stock. Utah Retirement Systems boosted its stake in Scotts Miracle-Gro by 1.5% during the first quarter. Utah Retirement Systems now owns 7,575 shares of the basic materials company’s stock worth $596,000 after acquiring an additional 115 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in Scotts Miracle-Gro by 1.1% during the first quarter. Commonwealth Equity Services LLC now owns 11,385 shares of the basic materials company’s stock worth $894,000 after acquiring an additional 120 shares in the last quarter. Huntington National Bank boosted its stake in Scotts Miracle-Gro by 4.6% during the first quarter. Huntington National Bank now owns 2,838 shares of the basic materials company’s stock worth $223,000 after acquiring an additional 125 shares in the last quarter. Eukles Asset Management boosted its stake in Scotts Miracle-Gro by 3.9% during the first quarter. Eukles Asset Management now owns 3,345 shares of the basic materials company’s stock worth $263,000 after acquiring an additional 125 shares in the last quarter. Finally, OppenheimerFunds Inc. boosted its stake in Scotts Miracle-Gro by 1.3% during the first quarter. OppenheimerFunds Inc. now owns 10,056 shares of the basic materials company’s stock worth $790,000 after acquiring an additional 129 shares in the last quarter. 65.12% of the stock is currently owned by institutional investors and hedge funds.

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About Scotts Miracle-Gro

The Scotts Miracle-Gro Company manufactures, markets, and sells consumer lawn and garden products in the United States and internationally. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It offers lawn care products, such as lawn fertilizers, grass seed products, spreaders, other durable products, and outdoor cleaners, as well as lawn-related weed, pest, and disease control products.

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