Scotts Miracle-Gro (NYSE:SMG) Director Mark Kingdon Sells 831 Shares

Key Points

• Director Mark Kingdon sold 831 Scotts Miracle-Gro shares at an average price of $61.65, generating $51,231.15 and reducing his direct holdings by 7.13% to 10,827 shares.
• Scotts Miracle-Gro reported quarterly EPS of $2.82, beating estimates of $2.48, while revenue rose 1.1% year over year to $1.17 billion.
• The company declared a quarterly dividend of $0.66 per share, or $2.64 annualized, representing a 4.3% yield; analysts maintain a consensus “Hold” rating with an average price target of $75.40.

The Scotts Miracle-Gro Company (NYSE:SMG - Get Free Report) Director Mark Kingdon sold 831 shares of the firm's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $61.65, for a total value of $51,231.15. Following the completion of the sale, the director directly owned 10,827 shares in the company, valued at approximately $667,484.55. This trade represents a 7.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Scotts Miracle-Gro Stock Performance

Shares of NYSE:SMG traded down $0.71 during trading hours on Tuesday, hitting $61.56. The stock had a trading volume of 74,862 shares, compared to its average volume of 952,467. The Scotts Miracle-Gro Company has a 1-year low of $52.00 and a 1-year high of $75.34. The firm has a market capitalization of $3.58 billion, a price-to-earnings ratio of 53.54 and a beta of 1.82. The stock's fifty day simple moving average is $65.44 and its 200 day simple moving average is $64.34.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The basic materials company reported $2.82 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.17 billion. During the same period last year, the firm earned $2.59 EPS. The firm's revenue for the quarter was up 1.1% on a year-over-year basis. As a group, research analysts anticipate that The Scotts Miracle-Gro Company will post 4.39 EPS for the current year.

Scotts Miracle-Gro Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Friday, August 21st will be paid a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Friday, August 21st. Scotts Miracle-Gro's dividend payout ratio is currently 229.57%.

Institutional Trading of Scotts Miracle-Gro

Several hedge funds have recently added to or reduced their stakes in SMG. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Scotts Miracle-Gro during the 1st quarter worth approximately $26,000. Key Capital Management INC purchased a new stake in Scotts Miracle-Gro in the fourth quarter worth $29,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Scotts Miracle-Gro in the third quarter valued at $32,000. Elevation Wealth Partners LLC raised its stake in shares of Scotts Miracle-Gro by 394.1% in the second quarter. Elevation Wealth Partners LLC now owns 751 shares of the basic materials company's stock valued at $51,000 after buying an additional 599 shares during the period. Finally, SBI Securities Co. Ltd. lifted its position in shares of Scotts Miracle-Gro by 127.9% during the 4th quarter. SBI Securities Co. Ltd. now owns 889 shares of the basic materials company's stock valued at $52,000 after buying an additional 499 shares during the last quarter. Institutional investors own 74.07% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on SMG. Weiss Ratings restated a "hold (c)" rating on shares of Scotts Miracle-Gro in a research note on Friday, July 31st. Wall Street Zen lowered Scotts Miracle-Gro from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. 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 research report on Thursday, July 30th. Stifel Nicolaus upped their target price on shares of Scotts Miracle-Gro from $75.00 to $76.00 and gave the stock a "buy" rating in a research note on Monday, August 3rd. Finally, Jefferies Financial Group restated a "buy" rating and set a $79.00 price target on shares of Scotts Miracle-Gro in a report on Wednesday, April 29th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $75.40.

About Scotts Miracle-Gro

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.

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