Scotts Miracle-Gro Co. (SMG) Sets New 52-Week High at $82.94
Shares of Scotts Miracle-Gro Co. (NYSE:SMG) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $82.94 and last traded at $82.48, with a volume of 374,500 shares trading hands. The stock had previously closed at $82.52.
Several equities analysts recently weighed in on SMG shares. Zacks Investment Research lowered shares of Scotts Miracle-Gro from a “hold” rating to a “sell” rating in a report on Friday, July 15th. JPMorgan Chase & Co. upgraded shares of Scotts Miracle-Gro from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $70.00 to $85.00 in a report on Thursday, August 4th.
The firm’s 50-day moving average is $73.67 and its 200-day moving average is $70.46. The firm has a market cap of $5.03 billion and a price-to-earnings ratio of 16.08.
Scotts Miracle-Gro (NYSE:SMG) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $2.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.12 by $0.04. The firm earned $994.10 million during the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter last year, the company posted $2.68 EPS. The firm’s revenue was down 10.5% compared to the same quarter last year. Equities research analysts forecast that Scotts Miracle-Gro Co. will post $3.79 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 9th. Investors of record on Friday, August 26th will be given a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, August 24th. This represents a $2.00 annualized dividend and a dividend yield of 2.43%. This is an increase from Scotts Miracle-Gro’s previous quarterly dividend of $0.47.
In other Scotts Miracle-Gro news, insider Michael C. Lukemire sold 38,924 shares of the company’s stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $79.65, for a total value of $3,100,296.60. Following the transaction, the insider now owns 34,256 shares in the company, valued at approximately $2,728,490.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Thomas N. Kelly, Jr. sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $82.20, for a total transaction of $411,000.00. Following the completion of the transaction, the director now owns 14,273 shares in the company, valued at approximately $1,173,240.60. The disclosure for this sale can be found here.
Other hedge funds and institutional investors recently added to or reduced their stakes in the company. Ancora Advisors LLC raised its position in Scotts Miracle-Gro by 33.5% in the fourth quarter. Ancora Advisors LLC now owns 25,486 shares of the company’s stock valued at $1,588,000 after buying an additional 6,400 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. Gluskin Sheff & Assoc Inc. bought a new position in Scotts Miracle-Gro during the fourth quarter valued at $1,979,000. 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. Finally, Westfield Capital Management Co. LP raised its position in 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 valued at $22,360,000 after buying an additional 40,224 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.