Scotts Miracle-Gro Co. (SMG) Hits New 12-Month High at $75.34
Shares of Scotts Miracle-Gro Co. (NYSE:SMG) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $75.34 and last traded at $75.11, with a volume of 259,079 shares changing hands. The stock had previously closed at $74.48.
SMG has been the subject of a number of research analyst reports. SunTrust Banks Inc. upped their target price on Scotts Miracle-Gro to $85.00 and gave the company a “buy” rating in a research report on Wednesday, March 30th. Zacks Investment Research raised Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a research report on Thursday, July 7th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $78.33.
The company has a market capitalization of $4.59 billion and a PE ratio of 19.61. The company’s 50 day moving average is $70.50 and its 200-day moving average is $69.43.
Scotts Miracle-Gro (NYSE:SMG) last posted its quarterly earnings results on Tuesday, May 3rd. The company reported $3.00 EPS for the quarter, beating the consensus estimate of $2.51 by $0.49. The company had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.24 billion. The company’s revenue was up 16.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.29 earnings per share. On average, analysts predict that Scotts Miracle-Gro Co. will post $3.87 earnings per share for the current year.
In related news, CEO James Hagedorn sold 44,630 shares of the company’s stock in a transaction on Thursday, May 12th. The shares were sold at an average price of $66.90, for a total value of $2,985,747.00. Following the completion of the sale, the chief executive officer now directly owns 7,451 shares in the company, valued at $498,471.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
A number of large investors have modified their holdings of the company. Victory Capital Management Inc. boosted its stake in shares of Scotts Miracle-Gro by 26.3% in the fourth quarter. Victory Capital Management Inc. now owns 783,800 shares of the company’s stock worth $50,563,000 after buying an additional 163,300 shares in the last quarter. Westfield Capital Management Co. LP boosted its stake in shares of Scotts Miracle-Gro by 13.1% in the fourth quarter. Westfield Capital Management Co. LP now owns 346,613 shares of the company’s stock worth $22,360,000 after buying an additional 40,224 shares in the last quarter. Gluskin Sheff & Assoc Inc. acquired a new stake in shares of Scotts Miracle-Gro during the fourth quarter worth about $1,979,000. Principal Financial Group Inc. boosted its stake in shares of Scotts Miracle-Gro by 7.8% in the fourth quarter. Principal Financial Group Inc. now owns 147,728 shares of the company’s stock worth $9,530,000 after buying an additional 10,639 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of Scotts Miracle-Gro by 5.7% in the fourth quarter. Wells Fargo & Company MN now owns 392,193 shares of the company’s stock worth $25,300,000 after buying an additional 21,064 shares in the last quarter.
The Scotts Miracle-Gro Company (Scotts Miracle-Gro) is a manufacturer and marketer of branded consumer lawn and garden products. The Company’s segments include Global Consumer. In North America, its brands include Scotts and Turf Builder lawn and grass seed products; Miracle-Gro, Nature’s Care, Scotts, LiquaFeed and Osmocote gardening and landscape products; and Ortho, Roundup, Home Defense and Tomcat branded insect control, weed control and rodent control products.
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