Scotts Miracle-Gro Co. (SMG) Trading Up 3.2%
Scotts Miracle-Gro Co. (NYSE:SMG) shares were up 3.2% on Thursday . The stock 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.
Several research analysts have weighed in on SMG shares. Zacks Investment Research lowered Scotts Miracle-Gro from a “buy” rating to a “hold” rating in a research report on Wednesday, May 11th. JPMorgan Chase & Co. lowered Scotts Miracle-Gro from an “overweight” rating to a “neutral” rating and set a $70.00 target price on the stock. in a research report on Tuesday, March 22nd. They noted that the move was a valuation call. Finally, SunTrust Banks Inc. upped their target price on Scotts Miracle-Gro to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, March 30th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $78.33.
The company’s 50-day moving average price is $68.50 and its 200 day moving average price is $68.56. The company has a market cap of $4.43 billion and a price-to-earnings ratio of 18.89.
Scotts Miracle-Gro (NYSE:SMG) last announced its quarterly earnings data on Tuesday, May 3rd. The company reported $3.00 EPS for the quarter, topping analysts’ consensus estimates of $2.51 by $0.49. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.24 billion. The firm’s revenue for the quarter was up 16.2% on a year-over-year basis. During the same period last year, the firm earned $2.29 earnings per share. On average, equities research analysts expect that Scotts Miracle-Gro Co. will post $3.93 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 10th. Investors of record on Friday, May 27th were paid a dividend of $0.47 per share. The ex-dividend date was Wednesday, May 25th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.60%.
In other Scotts Miracle-Gro news, CEO James Hagedorn sold 44,630 shares of Scotts Miracle-Gro stock in a transaction dated Thursday, May 12th. The stock was sold at an average price of $66.90, for a total transaction of $2,985,747.00. Following the transaction, the chief executive officer now directly owns 7,451 shares in the company, valued at $498,471.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
A number of hedge funds and institutional investors have bought and sold shares of SMG. Victory Capital Management Inc. raised its position in Scotts Miracle-Gro by 26.3% in the fourth quarter. Victory Capital Management Inc. now owns 783,800 shares of the company’s stock valued at $50,563,000 after buying an additional 163,300 shares in the last quarter. Principal Financial Group Inc. raised its position in Scotts Miracle-Gro by 7.8% in the fourth quarter. Principal Financial Group Inc. now owns 147,728 shares of the company’s stock valued at $9,530,000 after buying an additional 10,639 shares in the last quarter. Wells Fargo & Company MN raised its position in Scotts Miracle-Gro by 5.7% in the fourth quarter. Wells Fargo & Company MN now owns 392,193 shares of the company’s stock valued at $25,300,000 after buying an additional 21,064 shares in the last quarter. Mutual of America Capital Management LLC raised 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 valued at $1,961,000 after buying an additional 90 shares in the last quarter. Finally, Liberty Mutual Group Asset Management Inc. raised its position in Scotts Miracle-Gro by 51.4% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 29,222 shares of the company’s stock valued at $1,886,000 after buying an additional 9,921 shares in the last quarter.
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.