Scotts Miracle-Gro Co (NYSE:SMG) EVP Ivan C. Smith sold 2,972 shares of the stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $164.40, for a total value of $488,596.80. Following the sale, the executive vice president now owns 10,674 shares in the company, valued at approximately $1,754,805.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
NYSE SMG opened at $158.57 on Friday. Scotts Miracle-Gro Co has a one year low of $76.50 and a one year high of $167.46. The company has a market capitalization of $8.73 billion, a P/E ratio of 27.82 and a beta of 0.93. The stock has a 50 day moving average price of $137.83 and a 200-day moving average price of $123.79. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.32 and a current ratio of 1.61.
Scotts Miracle-Gro (NYSE:SMG) last issued its quarterly earnings results on Wednesday, July 29th. The basic materials company reported $3.80 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.37 by $0.43. The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.33 billion. Scotts Miracle-Gro had a return on equity of 45.36% and a net margin of 8.71%. Scotts Miracle-Gro’s quarterly revenue was up 27.5% compared to the same quarter last year. During the same period last year, the company earned $3.11 EPS. As a group, equities analysts predict that Scotts Miracle-Gro Co will post 6.75 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Thursday, August 27th will be given a $0.62 dividend. The ex-dividend date of this dividend is Wednesday, August 26th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.56%. This is an increase from Scotts Miracle-Gro’s previous quarterly dividend of $0.58. Scotts Miracle-Gro’s payout ratio is presently 51.90%.
Several analysts have weighed in on SMG shares. William Blair reaffirmed a “buy” rating on shares of Scotts Miracle-Gro in a report on Tuesday, June 9th. TheStreet upgraded Scotts Miracle-Gro from a “c+” rating to a “b” rating in a report on Wednesday, May 6th. Raymond James downgraded shares of Scotts Miracle-Gro from a “strong-buy” rating to a “market perform” rating and set a $152.00 price objective for the company. in a research note on Tuesday, May 26th. Finally, SunTrust Banks lifted their price target on shares of Scotts Miracle-Gro from $155.00 to $180.00 and gave the company a “buy” rating in a report on Thursday. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Scotts Miracle-Gro currently has an average rating of “Hold” and a consensus target price of $128.50.
A number of institutional investors have recently added to or reduced their stakes in SMG. Sunbelt Securities Inc. acquired a new stake in Scotts Miracle-Gro during the 4th quarter worth about $2,654,000. Rockefeller Capital Management L.P. grew its position in Scotts Miracle-Gro by 392.0% during the first quarter. Rockefeller Capital Management L.P. now owns 246 shares of the basic materials company’s stock valued at $25,000 after buying an additional 196 shares during the period. Toronto Dominion Bank acquired a new position in Scotts Miracle-Gro in the 1st quarter worth about $27,000. Benjamin F. Edwards & Company Inc. grew its stake in Scotts Miracle-Gro by 62.8% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 311 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 120 shares during the period. Finally, Harbor Investment Advisory LLC lifted its stake in Scotts Miracle-Gro by 192.5% in the 1st quarter. Harbor Investment Advisory LLC now owns 351 shares of the basic materials company’s stock valued at $36,000 after buying an additional 231 shares in the last quarter. Institutional investors own 63.07% of the company’s stock.
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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