Scotts Miracle-Gro (NYSE:SMG) Director Stephen Johnson Sells 1,171 Shares

The Scotts Miracle-Gro Company (NYSE:SMG) Director Stephen Johnson sold 1,171 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $68.32, for a total value of $80,002.72. Following the completion of the transaction, the director owned 30,179 shares in the company, valued at $2,061,829.28. This represents a 3.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Scotts Miracle-Gro Stock Down 3.8%

SMG stock opened at $65.72 on Friday. The business has a fifty day moving average of $64.84 and a two-hundred day moving average of $64.27. The stock has a market cap of $3.82 billion, a price-to-earnings ratio of 57.15 and a beta of 1.81. The Scotts Miracle-Gro Company has a 52-week low of $52.00 and a 52-week high of $75.34.

Scotts Miracle-Gro (NYSE:SMG) last posted its earnings results on Wednesday, July 29th. The basic materials company reported $2.82 EPS for the quarter, beating analysts’ consensus estimates of $2.48 by $0.34. Scotts Miracle-Gro had a negative return on equity of 81.90% and a net margin of 2.19%.The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the previous year, the business 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, sell-side analysts anticipate that The Scotts Miracle-Gro Company will post 4.35 EPS for the current year.

Scotts Miracle-Gro Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Friday, August 21st will be issued a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 4.0%. The ex-dividend date is Friday, August 21st. Scotts Miracle-Gro’s payout ratio is 229.57%.

Wall Street Analyst Weigh In

SMG has been the subject of several research analyst reports. Wells Fargo & Company increased their target price on shares of Scotts Miracle-Gro from $74.00 to $77.00 and gave the stock an “overweight” rating in a research note on Thursday. Stifel Nicolaus decreased their price objective on shares of Scotts Miracle-Gro from $76.00 to $75.00 and set a “buy” rating on the stock in a report on Monday, June 8th. Wall Street Zen cut shares of Scotts Miracle-Gro from a “buy” rating to a “hold” rating in a research report on Saturday. Jefferies Financial Group reiterated a “buy” rating and issued a $79.00 target price on shares of Scotts Miracle-Gro in a report on Wednesday, April 29th. Finally, UBS Group lifted their target price on shares of Scotts Miracle-Gro from $70.00 to $78.00 and gave the company a “neutral” rating in a report on Thursday. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $75.20.

Hedge Funds Weigh In On Scotts Miracle-Gro

Hedge funds and other institutional investors have recently bought and sold shares of the company. Cassaday & Co Wealth Management LLC acquired a new position in Scotts Miracle-Gro in the 1st quarter valued at about $26,000. Key Capital Management INC acquired a new stake in shares of Scotts Miracle-Gro during the fourth quarter worth about $29,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Scotts Miracle-Gro during the third quarter worth about $32,000. Elevation Wealth Partners LLC boosted its stake in shares of Scotts Miracle-Gro by 394.1% in the second quarter. Elevation Wealth Partners LLC now owns 751 shares of the basic materials company’s stock valued at $51,000 after purchasing an additional 599 shares during the period. Finally, SBI Securities Co. Ltd. boosted its stake in shares of Scotts Miracle-Gro by 127.9% in the fourth quarter. SBI Securities Co. Ltd. now owns 889 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 499 shares during the period. 74.07% of the stock is currently owned by hedge funds and other institutional investors.

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.