Mark Kingdon Sells 831 Shares of Scotts Miracle-Gro (NYSE:SMG) Stock

The Scotts Miracle-Gro Company (NYSE:SMG) Director Mark Kingdon sold 831 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $61.65, for a total transaction of $51,231.15. Following the transaction, the director directly owned 10,827 shares in the company, valued at $667,484.55. The trade was a 7.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Scotts Miracle-Gro Trading Up 0.5%

NYSE SMG opened at $62.34 on Thursday. The Scotts Miracle-Gro Company has a 1-year low of $52.00 and a 1-year high of $75.34. The firm’s fifty day simple moving average is $65.66 and its 200-day simple moving average is $64.33. The company has a market capitalization of $3.63 billion, a PE ratio of 54.21 and a beta of 1.82.

Scotts Miracle-Gro (NYSE:SMG) last issued its quarterly earnings data on Wednesday, July 29th. The basic materials company reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.34. Scotts Miracle-Gro had a net margin of 2.19% and a negative return on equity of 81.90%. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter last year, the firm earned $2.59 earnings per share. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, analysts predict that The Scotts Miracle-Gro Company will post 4.39 EPS for the current year.

Scotts Miracle-Gro Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Friday, August 21st will be given a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Friday, August 21st. Scotts Miracle-Gro’s dividend payout ratio is currently 229.57%.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Scotts Miracle-Gro in a report on Friday, July 31st. Wells Fargo & Company raised their target price on Scotts Miracle-Gro from $74.00 to $77.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. UBS Group lifted their price target on shares of Scotts Miracle-Gro from $70.00 to $78.00 and gave the stock a “neutral” rating in a research note on Thursday, July 30th. Jefferies Financial Group reissued a “buy” rating and issued a $79.00 price target on shares of Scotts Miracle-Gro in a report on Wednesday, April 29th. Finally, Stifel Nicolaus increased their price objective on shares of Scotts Miracle-Gro from $75.00 to $76.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $75.40.

Institutional Trading of Scotts Miracle-Gro

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Captrust Financial Advisors lifted its position in shares of Scotts Miracle-Gro by 12,034.5% during the second quarter. Captrust Financial Advisors now owns 1,008,623 shares of the basic materials company’s stock worth $66,529,000 after purchasing an additional 1,000,311 shares in the last quarter. Epoch Investment Partners Inc. acquired a new stake in shares of Scotts Miracle-Gro in the first quarter valued at approximately $50,058,000. Arrowstreet Capital Limited Partnership raised its position in Scotts Miracle-Gro by 161.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,289,974 shares of the basic materials company’s stock worth $78,443,000 after purchasing an additional 795,970 shares during the last quarter. AQR Capital Management LLC raised its position in Scotts Miracle-Gro by 458.7% in the 2nd quarter. AQR Capital Management LLC now owns 822,743 shares of the basic materials company’s stock worth $54,268,000 after purchasing an additional 675,493 shares during the last quarter. Finally, Brandes Investment Partners LP lifted its holdings in Scotts Miracle-Gro by 362.8% during the 4th quarter. Brandes Investment Partners LP now owns 737,546 shares of the basic materials company’s stock worth $43,036,000 after buying an additional 578,174 shares in 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.