Key Points
- Director Mark Kingdon sold 831 SMG shares at an average price of $61.65, generating $51,231.15 and reducing his ownership by 7.13% to 10,827 shares.
- Scotts Miracle-Gro reported quarterly EPS of $2.82, beating estimates of $2.48, while revenue rose 1.1% year over year to $1.17 billion.
- The company declared a quarterly dividend of $0.66 per share, equivalent to a 4.3% annualized yield; analysts maintain a consensus “Hold” rating with a $75.40 price target.
The Scotts Miracle-Gro Company (NYSE:SMG - Get Free Report) Director Mark Kingdon sold 831 shares of the business's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $61.65, for a total value of $51,231.15. Following the completion of the transaction, the director owned 10,827 shares of the company's stock, valued at $667,484.55. This represents a 7.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.
Scotts Miracle-Gro Stock Performance
Shares of SMG stock opened at $62.08 on Wednesday. The company has a market capitalization of $3.61 billion, a P/E ratio of 53.98 and a beta of 1.82. The company's 50 day moving average price is $65.55 and its two-hundred day moving average price is $64.33. The Scotts Miracle-Gro Company has a 52 week low of $52.00 and a 52 week high of $75.34.
Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The basic materials company reported $2.82 earnings per share for the quarter, beating analysts' consensus estimates of $2.48 by $0.34. Scotts Miracle-Gro had a net margin of 2.19% and a negative return on equity of 81.90%. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the previous year, the firm posted $2.59 earnings per share. The business's revenue was up 1.1% on a year-over-year basis. Analysts forecast that The Scotts Miracle-Gro Company will post 4.39 earnings per share for the current year.
Scotts Miracle-Gro Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Friday, August 21st will be paid a $0.66 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $2.64 dividend on an annualized basis and a yield of 4.3%. Scotts Miracle-Gro's dividend payout ratio is presently 229.57%.
Analyst Upgrades and Downgrades
Several research firms have issued reports on SMG. Weiss Ratings reissued a "hold (c)" rating on shares of Scotts Miracle-Gro in a research note on Friday, July 31st. UBS Group lifted their target price on Scotts Miracle-Gro from $70.00 to $78.00 and gave the company a "neutral" rating in a research report on Thursday, July 30th. Wall Street Zen cut Scotts Miracle-Gro from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Stifel Nicolaus upped their price target on Scotts Miracle-Gro from $75.00 to $76.00 and gave the stock a "buy" rating in a research report on Monday, August 3rd. Finally, Wells Fargo & Company raised their price target on shares of Scotts Miracle-Gro from $74.00 to $77.00 and gave the stock an "overweight" rating in a research note on Thursday, July 30th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $75.40.
Check Out Our Latest Stock Analysis on SMG
Institutional Trading of Scotts Miracle-Gro
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Cassaday & Co Wealth Management LLC acquired a new position in Scotts Miracle-Gro during the first quarter valued at approximately $26,000. Key Capital Management INC acquired a new position in shares of Scotts Miracle-Gro during the 4th quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Scotts Miracle-Gro during the 3rd quarter worth approximately $32,000. Elevation Wealth Partners LLC raised its stake in shares of Scotts Miracle-Gro by 394.1% during the 2nd quarter. Elevation Wealth Partners LLC now owns 751 shares of the basic materials company's stock worth $51,000 after purchasing an additional 599 shares in the last quarter. Finally, SBI Securities Co. Ltd. boosted its holdings in shares of Scotts Miracle-Gro by 127.9% in the 4th quarter. SBI Securities Co. Ltd. now owns 889 shares of the basic materials company's stock valued at $52,000 after buying an additional 499 shares during the last quarter. Institutional investors and hedge funds own 74.07% of the company's stock.
About Scotts Miracle-Gro
(
Get Free Report)
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.
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