Skip to main content

Investors Purchase Large Volume of Put Options on The Scotts Miracle-Gro (NYSE:SMG)

Tuesday, May 4, 2021 | MarketBeat

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.

Further Reading: Google Finance Portfolio Tips and Tricks

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Featured Article: What is the price-sales ratio?


7 Great Dividend Stocks to Buy For a Comfortable Retirement

There are people who will say the day of set it and forget it retirement accounts are over. But it’s a narrative we’ve heard before. The truth is the formula for saving for and enjoying a comfortable retirement, like the formula for weight loss, hasn’t really changed. A lot depends on whether an individual has the discipline to see it through.

Dividend stocks remain one of the core elements of a retirement portfolio. As individuals near retirement the ability to reinvest dividends allows for a greater total return. And once individuals need to live off their portfolio, the dividends provide a source of income without having to tap their principal.

However, not all dividend stocks are the same and many investors get sucked in by the allure of a high-yield dividend stock. But what you’re really looking for are companies with a history of increasing its dividend. The ability to increase a dividend over time illustrates that the company has a business model that can hold up regardless of how the broader economy is performing.

In this special presentation, we’ll highlight seven stocks that individuals can buy today to capture a stable, recurring dividend.

View the "7 Great Dividend Stocks to Buy For a Comfortable Retirement".


MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

MarketBeat is accredited by the Better Business Bureau

© American Consumer News, LLC dba MarketBeat® 2010-2021. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information

© 2021 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer. Fundamental company data provided by Zacks Investment Research. As a bonus to opt-ing into our email newsletters, you will also get a free subscription to the Liberty Through Wealth e-newsletter. You can opt out at any time.