The Scotts Miracle-Gro Company (NYSE:SMG – Get Rating) Director Peter E. Shumlin sold 750 shares of the company’s stock in a transaction that occurred on Friday, November 18th. The stock was sold at an average price of $56.94, for a total value of $42,705.00. Following the completion of the sale, the director now owns 11,385 shares in the company, valued at approximately $648,261.90. The transaction was disclosed in a filing with the SEC, which is available at this link.
NYSE:SMG traded up $1.44 during trading hours on Monday, hitting $57.99. 36,647 shares of the stock were exchanged, compared to its average volume of 653,620. The company has a market cap of $3.21 billion, a P/E ratio of -7.12 and a beta of 1.43. The firm’s fifty day moving average price is $49.69 and its 200 day moving average price is $71.50. The Scotts Miracle-Gro Company has a 52-week low of $39.06 and a 52-week high of $168.85. The company has a current ratio of 2.06, a quick ratio of 0.66 and a debt-to-equity ratio of 19.13.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 9th. Investors of record on Monday, November 28th will be paid a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 4.55%. The ex-dividend date is Friday, November 25th. Scotts Miracle-Gro’s dividend payout ratio is currently -33.25%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SMG. Canada Pension Plan Investment Board purchased a new stake in shares of Scotts Miracle-Gro in the first quarter valued at about $27,000. SRS Capital Advisors Inc. lifted its stake in Scotts Miracle-Gro by 208.1% in the second quarter. SRS Capital Advisors Inc. now owns 379 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 256 shares during the last quarter. Byrne Asset Management LLC increased its holdings in Scotts Miracle-Gro by 78.3% in the second quarter. Byrne Asset Management LLC now owns 353 shares of the basic materials company’s stock valued at $31,000 after buying an additional 155 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in shares of Scotts Miracle-Gro by 84.0% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 390 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 178 shares in the last quarter. Finally, CoreCap Advisors LLC purchased a new stake in shares of Scotts Miracle-Gro during the 2nd quarter worth approximately $39,000. Hedge funds and other institutional investors own 66.81% of the company’s stock.
SMG has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered their price target on shares of Scotts Miracle-Gro from $80.00 to $45.00 and set a “neutral” rating on the stock in a report on Thursday, November 3rd. Stifel Nicolaus dropped their target price on Scotts Miracle-Gro from $75.00 to $48.00 in a research report on Thursday, October 27th. Truist Financial reduced their price target on Scotts Miracle-Gro from $85.00 to $50.00 in a report on Thursday, November 3rd. TheStreet downgraded Scotts Miracle-Gro from a “c” rating to a “d+” rating in a research report on Wednesday, August 3rd. Finally, Barclays upgraded Scotts Miracle-Gro from an “equal weight” rating to an “overweight” rating and set a $75.00 price objective for the company in a research report on Tuesday, November 8th. One analyst has rated the stock with a sell rating, five have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Scotts Miracle-Gro currently has an average rating of “Hold” and an average target price of $58.57.
The Scotts Miracle-Gro Company engages in the manufacture, marketing, and sale of products for lawn, garden care, and indoor and hydroponic gardening in the United States and internationally. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It provides lawn care products comprising lawn fertilizers, grass seed products, spreaders, other durable products, and outdoor cleaners, as well as lawn-related weed, pest, and disease control products; gardening and landscape products include water-soluble and continuous-release plant foods, potting mixes and garden soils, mulch and decorative groundcover products, plant-related pest and disease control products, organic garden products, and lives goods and seeding solutions.
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