Scotts Miracle-Gro Co (NYSE:SMG) EVP Ivan C. Smith sold 2,972 shares of the stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $164.40, for a total value of $488,596.80. Following the completion of the sale, the executive vice president now owns 10,674 shares of the company’s stock, valued at approximately $1,754,805.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Shares of NYSE:SMG opened at $158.57 on Friday. Scotts Miracle-Gro Co has a twelve month low of $76.50 and a twelve month high of $167.46. The company has a quick ratio of 1.32, a current ratio of 1.61 and a debt-to-equity ratio of 1.51. The company has a market cap of $8.73 billion, a price-to-earnings ratio of 27.82 and a beta of 0.93. The business has a 50 day moving average price of $137.83 and a 200 day moving average price of $123.79.
Scotts Miracle-Gro (NYSE:SMG) last issued its earnings results on Wednesday, July 29th. The basic materials company reported $3.80 EPS for the quarter, topping the consensus estimate of $3.37 by $0.43. The firm had revenue of $1.49 billion during the quarter, compared to analysts’ expectations 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 business earned $3.11 earnings per share. Analysts anticipate that Scotts Miracle-Gro Co will post 6.75 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Thursday, August 27th will be issued a dividend of $0.62 per share. The ex-dividend date is Wednesday, August 26th. This represents a $2.48 dividend on an annualized basis and a yield of 1.56%. This is a positive change from Scotts Miracle-Gro’s previous quarterly dividend of $0.58. Scotts Miracle-Gro’s dividend payout ratio is currently 51.90%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Maverick Capital Ltd. boosted its stake in Scotts Miracle-Gro by 6.7% in the first quarter. Maverick Capital Ltd. now owns 84,351 shares of the basic materials company’s stock valued at $8,638,000 after acquiring an additional 5,306 shares during the last quarter. New Mexico Educational Retirement Board grew its stake in Scotts Miracle-Gro by 38.2% in the first quarter. New Mexico Educational Retirement Board now owns 9,400 shares of the basic materials company’s stock valued at $963,000 after acquiring an additional 2,600 shares during the period. Paloma Partners Management Co acquired a new position in shares of Scotts Miracle-Gro in the 1st quarter valued at approximately $333,000. Janus Henderson Group PLC boosted its holdings in shares of Scotts Miracle-Gro by 464.4% in the first quarter. Janus Henderson Group PLC now owns 135,286 shares of the basic materials company’s stock valued at $13,853,000 after buying an additional 111,317 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in Scotts Miracle-Gro by 6.5% during the 1st quarter. Victory Capital Management Inc. now owns 14,319 shares of the basic materials company’s stock worth $1,466,000 after purchasing an additional 871 shares in the last quarter. 63.07% of the stock is owned by institutional investors.
A number of equities research analysts have weighed in on the company. SunTrust Banks raised their price objective on Scotts Miracle-Gro from $155.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday. William Blair reaffirmed a “buy” rating on shares of Scotts Miracle-Gro in a report on Tuesday, June 9th. TheStreet raised shares of Scotts Miracle-Gro from a “c+” rating to a “b” rating in a report on Wednesday, May 6th. Finally, Raymond James lowered Scotts Miracle-Gro from a “strong-buy” rating to a “market perform” rating and set a $152.00 price target for the company. in a research note on Tuesday, May 26th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $128.50.
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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