The Scotts Miracle-Gro Company (NYSE:SMG) was the recipient of some unusual options trading on Monday. Stock traders bought 2,563 put options on the stock. This represents an increase of approximately 1,408% compared to the average daily volume of 170 put options.
In related news, Director Katherine Littlefield Hagedorn sold 2,255 shares of the company's stock in a transaction dated Thursday, February 4th. The shares were sold at an average price of $234.41, for a total value of $528,594.55. Also, COO Michael C. Lukemire sold 57,310 shares of The Scotts Miracle-Gro stock in a transaction dated Monday, February 8th. The shares were sold at an average price of $237.87, for a total value of $13,632,329.70. Following the transaction, the chief operating officer now owns 29,636 shares of the company's stock, valued at approximately $7,049,515.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 82,784 shares of company stock valued at $19,619,256. Corporate insiders own 27.17% of the company's stock.
A number of institutional investors and hedge funds have recently made changes to their positions in SMG. Federated Hermes Inc. boosted its position in The Scotts Miracle-Gro by 44.9% during the fourth quarter. Federated Hermes Inc. now owns 839,443 shares of the basic materials company's stock worth $167,167,000 after purchasing an additional 259,955 shares during the period. Wells Fargo & Company MN grew its stake in The Scotts Miracle-Gro by 6.0% in the 4th quarter. Wells Fargo & Company MN now owns 830,766 shares of the basic materials company's stock valued at $165,438,000 after buying an additional 46,945 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in The Scotts Miracle-Gro by 6.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 495,969 shares of the basic materials company's stock valued at $98,761,000 after buying an additional 29,588 shares in the last quarter. Morgan Stanley lifted its position in shares of The Scotts Miracle-Gro by 109.2% during the fourth quarter. Morgan Stanley now owns 458,555 shares of the basic materials company's stock worth $91,317,000 after acquiring an additional 239,329 shares in the last quarter. Finally, Blair William & Co. IL lifted its position in shares of The Scotts Miracle-Gro by 3.4% during the fourth quarter. Blair William & Co. IL now owns 422,460 shares of the basic materials company's stock worth $84,129,000 after acquiring an additional 13,993 shares in the last quarter. 63.07% of the stock is owned by institutional investors.
Several research analysts recently issued reports on the company. Truist lifted their target price on The Scotts Miracle-Gro from $270.00 to $275.00 in a research report on Friday, April 9th. Truist Financial upped their target price on shares of The Scotts Miracle-Gro from $250.00 to $270.00 in a research note on Thursday, February 4th. Truist Securities raised their price target on shares of The Scotts Miracle-Gro from $270.00 to $275.00 in a research report on Friday, April 9th. Raymond James boosted their price target on shares of The Scotts Miracle-Gro from $290.00 to $300.00 and gave the stock a "strong-buy" rating in a report on Thursday, April 15th. Finally, William Blair reiterated an "outperform" rating on shares of The Scotts Miracle-Gro in a research note on Wednesday, February 3rd. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of "Buy" and a consensus target price of $239.71.
NYSE SMG opened at $231.11 on Tuesday. The company has a market capitalization of $12.87 billion, a PE ratio of 33.94 and a beta of 1.13. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.63 and a current ratio of 1.28. The Scotts Miracle-Gro has a 52-week low of $122.76 and a 52-week high of $254.34. The company has a 50-day simple moving average of $238.61 and a 200 day simple moving average of $208.45.
The Scotts Miracle-Gro (NYSE:SMG) last issued its quarterly earnings results on Tuesday, February 2nd. The basic materials company reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of ($0.73) by $1.12. The Scotts Miracle-Gro had a net margin of 9.38% and a return on equity of 52.60%. The company had revenue of $748.60 million during the quarter, compared to analyst estimates of $623.98 million. During the same quarter last year, the business posted ($1.12) EPS. The Scotts Miracle-Gro's quarterly revenue was up 104.6% compared to the same quarter last year. As a group, analysts forecast that The Scotts Miracle-Gro will post 8.24 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 10th. Stockholders of record on Thursday, May 27th will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Wednesday, May 26th. This represents a $2.48 annualized dividend and a dividend yield of 1.07%. The Scotts Miracle-Gro's payout ratio is 34.25%.
The Scotts Miracle-Gro Company Profile
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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