Scotts Miracle-Gro Co. (SMG) Trading 3.2% Higher
Scotts Miracle-Gro Co. (NYSE:SMG) shares traded up 3.2% during mid-day trading on Thursday . The company traded as high as $72.11 and last traded at $71.99, with a volume of 222,503 shares. The stock had previously closed at $69.77.
SMG has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of Scotts Miracle-Gro from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a report on Wednesday, April 6th. JPMorgan Chase & Co. cut shares of Scotts Miracle-Gro from an “overweight” rating to a “neutral” rating and set a $70.00 target price on the stock. in a report on Tuesday, March 22nd. They noted that the move was a valuation call. Finally, SunTrust Banks Inc. lifted their target price on shares of Scotts Miracle-Gro to $85.00 and gave the company a “buy” rating in a report on Wednesday, March 30th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $78.33.
The stock has a market cap of $4.54 billion and a P/E ratio of 19.36. The stock’s 50-day moving average is $68.88 and its 200 day moving average is $68.66.
Scotts Miracle-Gro (NYSE:SMG) last released its quarterly earnings results on Tuesday, May 3rd. The company reported $3.00 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.51 by $0.49. The company earned $1.25 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter in the prior year, the company earned $2.29 EPS. The firm’s revenue was up 16.2% compared to the same quarter last year. Equities analysts anticipate that Scotts Miracle-Gro Co. will post $3.88 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 10th. Shareholders of record on Friday, May 27th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend was Wednesday, May 25th.
In other Scotts Miracle-Gro news, CEO James Hagedorn sold 44,630 shares of the company’s stock in a transaction that occurred on Thursday, May 12th. The stock was sold at an average price of $66.90, for a total value of $2,985,747.00. Following the completion of the transaction, the chief executive officer now owns 7,451 shares in the company, valued at approximately $498,471.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
A number of institutional investors recently added to or reduced their stakes in SMG. Mutual of America Capital Management LLC boosted its position in Scotts Miracle-Gro by 0.3% in the fourth quarter. Mutual of America Capital Management LLC now owns 30,404 shares of the company’s stock worth $1,961,000 after buying an additional 90 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Scotts Miracle-Gro by 0.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 62,773 shares of the company’s stock valued at $4,050,000 after buying an additional 218 shares during the period. Rhumbline Advisers boosted its position in Scotts Miracle-Gro by 0.9% in the fourth quarter. Rhumbline Advisers now owns 77,633 shares of the company’s stock valued at $5,008,000 after buying an additional 700 shares during the period. Retirement Systems of Alabama boosted its position in Scotts Miracle-Gro by 1.7% in the fourth quarter. Retirement Systems of Alabama now owns 58,491 shares of the company’s stock valued at $3,773,000 after buying an additional 997 shares during the period. Finally, State of Wisconsin Investment Board boosted its position in Scotts Miracle-Gro by 0.4% in the fourth quarter. State of Wisconsin Investment Board now owns 230,106 shares of the company’s stock valued at $14,844,000 after buying an additional 1,021 shares during the period.
The Scotts Miracle-Gro Company (Scotts Miracle-Gro) is a manufacturer and marketer of branded consumer lawn and gardens products. The Company’s segments include Global Consumer, which manufactures and markets consumer lawn and gardens products, including lawn care, Gardening and Landscape and Home Protection, and Scotts LawnService, which provides residential and commercial lawn care, tree and shrub care and limited pest control services in the United States through periodic applications of fertilizer and control products.
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