Scotts Miracle-Gro (NYSE:SMG) Director Sells $80,002.72 in Stock

The Scotts Miracle-Gro Company (NYSE:SMG) Director Stephen Johnson sold 1,171 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $68.32, for a total value of $80,002.72. Following the completion of the transaction, the director owned 30,179 shares of the company’s stock, valued at $2,061,829.28. The trade was a 3.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Scotts Miracle-Gro Stock Up 0.1%

NYSE:SMG opened at $65.72 on Monday. The Scotts Miracle-Gro Company has a 52 week low of $52.00 and a 52 week high of $75.34. The company has a market capitalization of $3.82 billion, a P/E ratio of 57.15 and a beta of 1.82. The stock’s fifty day moving average is $64.84 and its two-hundred day moving average is $64.29.

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

Scotts Miracle-Gro Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Friday, August 21st will be given 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 is presently 229.57%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SMG shares. Weiss Ratings reissued a “hold (c)” rating on shares of Scotts Miracle-Gro in a research note on Monday, May 4th. 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 lifted their target price on shares of Scotts Miracle-Gro from $70.00 to $78.00 and gave the company a “neutral” rating in a report on Thursday. Wells Fargo & Company boosted their target price on Scotts Miracle-Gro from $74.00 to $77.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Wall Street Zen cut Scotts Miracle-Gro from a “buy” rating to a “hold” rating in a research note on Saturday. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Scotts Miracle-Gro has an average rating of “Hold” and a consensus price target of $75.20.

Hedge Funds Weigh In On Scotts Miracle-Gro

Several institutional investors have recently modified their holdings of SMG. Empowered Funds LLC boosted its holdings in Scotts Miracle-Gro by 26.3% in the first quarter. Empowered Funds LLC now owns 7,524 shares of the basic materials company’s stock valued at $413,000 after purchasing an additional 1,569 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Scotts Miracle-Gro by 18.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 149,882 shares of the basic materials company’s stock worth $8,227,000 after purchasing an additional 23,446 shares in the last quarter. Prudential Financial Inc. increased its holdings in Scotts Miracle-Gro by 34.6% during the 2nd quarter. Prudential Financial Inc. now owns 4,745 shares of the basic materials company’s stock worth $342,000 after purchasing an additional 1,219 shares during the period. Invesco Ltd. increased its holdings in Scotts Miracle-Gro by 71.2% during the 2nd quarter. Invesco Ltd. now owns 247,749 shares of the basic materials company’s stock worth $16,342,000 after purchasing an additional 102,997 shares during the period. Finally, Baird Financial Group Inc. acquired a new stake in Scotts Miracle-Gro in the 2nd quarter valued at about $309,000. Institutional investors and hedge funds own 74.07% of the company’s stock.

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.