Stephen Johnson Sells 1,171 Shares of Scotts Miracle-Gro (NYSE:SMG) Stock

The Scotts Miracle-Gro Company (NYSE:SMG) Director Stephen Johnson sold 1,171 shares of the business’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $68.32, for a total transaction of $80,002.72. Following the completion of the sale, the director owned 30,179 shares in the company, valued at approximately $2,061,829.28. This trade represents a 3.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Scotts Miracle-Gro Stock Performance

Shares of NYSE:SMG opened at $65.72 on Friday. The Scotts Miracle-Gro Company has a 1-year low of $52.00 and a 1-year high of $75.34. The company has a 50 day moving average price of $64.84 and a 200 day moving average price of $64.27. The stock has a market capitalization of $3.82 billion, a price-to-earnings ratio of 57.15 and a beta of 1.81.

Scotts Miracle-Gro (NYSE:SMG) last released its quarterly earnings data on Wednesday, July 29th. The basic materials company reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.34. Scotts Miracle-Gro had a negative return on equity of 81.90% and a net margin of 2.19%.The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the company posted $2.59 EPS. The company’s revenue was up 1.1% compared to the same quarter last year. On average, sell-side analysts expect that The Scotts Miracle-Gro Company will post 4.35 EPS for the current fiscal year.

Scotts Miracle-Gro Dividend Announcement

The company also recently disclosed 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 4.0%. Scotts Miracle-Gro’s dividend payout ratio (DPR) is currently 229.57%.

Institutional Investors Weigh In On Scotts Miracle-Gro

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rehmann Capital Advisory Group increased its holdings in shares of Scotts Miracle-Gro by 4.2% in the fourth quarter. Rehmann Capital Advisory Group now owns 4,690 shares of the basic materials company’s stock valued at $275,000 after purchasing an additional 187 shares in the last quarter. Baader Bank Aktiengesellschaft increased its holdings in Scotts Miracle-Gro by 3.9% in the first quarter. Baader Bank Aktiengesellschaft now owns 5,193 shares of the basic materials company’s stock valued at $312,000 after purchasing an additional 193 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of Scotts Miracle-Gro by 2.2% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 9,126 shares of the basic materials company’s stock valued at $555,000 after acquiring an additional 200 shares during the last quarter. GAMMA Investing LLC increased its stake in Scotts Miracle-Gro by 7.3% in the second quarter. GAMMA Investing LLC now owns 3,200 shares of the basic materials company’s stock valued at $218,000 after purchasing an additional 218 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its position in shares of Scotts Miracle-Gro by 6.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 5,077 shares of the basic materials company’s stock valued at $296,000 after buying an additional 294 shares in the last quarter. Institutional investors and hedge funds own 74.07% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on SMG. Jefferies Financial Group reaffirmed a “buy” rating and set a $79.00 price objective on shares of Scotts Miracle-Gro in a research report on Wednesday, April 29th. UBS Group increased their price target on Scotts Miracle-Gro from $70.00 to $78.00 and gave the company a “neutral” rating in a report on Thursday. Wells Fargo & Company increased their price objective on Scotts Miracle-Gro from $74.00 to $77.00 and gave the company an “overweight” rating in a research report on Thursday. Wall Street Zen cut shares of Scotts Miracle-Gro from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Scotts Miracle-Gro in a research note on Monday, May 4th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $75.20.

Scotts Miracle-Gro Company Profile

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.