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

Key Points

• Director Stephen Johnson sold 1,171 Scotts Miracle-Gro shares at an average price of $68.32, generating $80,002.72 and reducing his direct ownership by 3.74% to 30,179 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. Shares recently traded at $66.63, within a 12-month range of $52.00 to $75.34.
• The company declared a quarterly dividend of $0.66 per share, representing a 4.0% yield, while analysts maintained an overall “Hold” rating with a consensus price target of $75.20.

The Scotts Miracle-Gro Company (NYSE:SMG - Get Free Report) Director Stephen Johnson sold 1,171 shares of the stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $68.32, for a total value of $80,002.72. Following the transaction, the director directly owned 30,179 shares in the company, valued at $2,061,829.28. The trade was a 3.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Scotts Miracle-Gro Price Performance

Shares of SMG traded down $1.68 on Friday, reaching $66.63. The company's stock had a trading volume of 96,718 shares, compared to its average volume of 941,570. The stock has a market capitalization of $3.88 billion, a P/E ratio of 58.02 and a beta of 1.81. The stock's 50 day simple moving average is $64.71 and its two-hundred day simple moving average is $64.26. The Scotts Miracle-Gro Company has a 12-month low of $52.00 and a 12-month high of $75.34.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last announced its earnings results on Wednesday, July 29th. The basic materials company reported $2.82 EPS for the quarter, beating analysts' consensus estimates of $2.48 by $0.34. Scotts Miracle-Gro had a net margin of 2.19% and a negative return on equity of 81.90%. The business had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.17 billion. During the same period in the prior year, the company earned $2.59 earnings per share. The firm's revenue was up 1.1% on a year-over-year basis. Analysts expect that The Scotts Miracle-Gro Company will post 4.3 earnings per share for the current year.

Scotts Miracle-Gro Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Friday, August 21st will be issued a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Friday, August 21st. Scotts Miracle-Gro's payout ratio is currently 229.57%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Wall Street Zen raised shares of Scotts Miracle-Gro from a "hold" rating to a "buy" rating in a report on Saturday, July 4th. Stifel Nicolaus dropped their price target on shares of Scotts Miracle-Gro from $76.00 to $75.00 and set a "buy" rating for the company in a research report on Monday, June 8th. Jefferies Financial Group restated 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 raised their price target on Scotts Miracle-Gro from $70.00 to $78.00 and gave the company a "neutral" rating in a report on Thursday. Finally, Wells Fargo & Company raised their target price on shares of Scotts Miracle-Gro from $74.00 to $77.00 and gave the company an "overweight" rating in a research note on Thursday. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $75.20.

Hedge Funds Weigh In On Scotts Miracle-Gro

Several hedge funds have recently bought and sold shares of SMG. Cassaday & Co Wealth Management LLC bought a new position in shares of Scotts Miracle-Gro during the 1st quarter worth $26,000. Key Capital Management INC bought a new stake in shares of Scotts Miracle-Gro in the 4th quarter valued at about $29,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Scotts Miracle-Gro in the 3rd quarter worth approximately $32,000. Elevation Wealth Partners LLC boosted its stake in shares of Scotts Miracle-Gro by 394.1% during the second quarter. Elevation Wealth Partners LLC now owns 751 shares of the basic materials company's stock valued at $51,000 after purchasing an additional 599 shares in the last quarter. Finally, SBI Securities Co. Ltd. increased its holdings in Scotts Miracle-Gro by 127.9% during the fourth 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 period. Institutional investors 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.

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