Stephen Johnson Sells 1,171 Shares of Scotts Miracle-Gro (NYSE:SMG) Stock

The Scotts Miracle-Gro Company (NYSE:SMG) Director Stephen Johnson sold 1,171 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $68.32, for a total transaction of $80,002.72. Following the transaction, the director owned 30,179 shares of the company’s stock, valued at approximately $2,061,829.28. This trade represents a 3.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Scotts Miracle-Gro Price Performance

Scotts Miracle-Gro stock traded down $1.68 during midday trading 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’s 50-day simple moving average is $64.71 and its 200-day simple moving average is $64.26. The Scotts Miracle-Gro Company has a 52-week low of $52.00 and a 52-week high of $75.34. The stock has a market capitalization of $3.88 billion, a P/E ratio of 58.02 and a beta of 1.81.

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

Scotts Miracle-Gro Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Wells Fargo & Company boosted their price target on Scotts Miracle-Gro from $74.00 to $77.00 and gave the company an “overweight” rating in a report on Thursday. UBS Group increased their price target on shares of Scotts Miracle-Gro from $70.00 to $78.00 and gave the stock a “neutral” rating in a report on Thursday. Jefferies Financial Group reaffirmed a “buy” rating and issued a $79.00 price objective on shares of Scotts Miracle-Gro in a report on Wednesday, April 29th. Wall Street Zen raised shares of Scotts Miracle-Gro from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Scotts Miracle-Gro in a research report on Monday, May 4th. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Scotts Miracle-Gro has a consensus rating of “Hold” and an average target price of $75.20.

Hedge Funds Weigh In On Scotts Miracle-Gro

A number of institutional investors and hedge funds have recently bought and sold shares of SMG. Kestrel Investment Management Corp acquired a new position in shares of Scotts Miracle-Gro in the 1st quarter worth approximately $2,390,000. Sound Income Strategies LLC grew its position in Scotts Miracle-Gro by 46.6% in the 4th quarter. Sound Income Strategies LLC now owns 230,966 shares of the basic materials company’s stock valued at $14,692,000 after buying an additional 73,455 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Scotts Miracle-Gro by 223.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,239 shares of the basic materials company’s stock worth $1,706,000 after purchasing an additional 20,196 shares in the last quarter. Gamco Investors INC. ET AL increased its holdings in Scotts Miracle-Gro by 9.7% during the 4th quarter. Gamco Investors INC. ET AL now owns 387,170 shares of the basic materials company’s stock valued at $22,591,000 after acquiring an additional 34,350 shares in the last quarter. Finally, Fifth Third Bancorp grew its position in shares of Scotts Miracle-Gro by 154.9% in the first quarter. Fifth Third Bancorp now owns 51,956 shares of the basic materials company’s stock valued at $3,159,000 after purchasing an additional 31,570 shares during the last quarter. 74.07% of the stock is currently owned by institutional investors and hedge funds.

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.