Scotts Miracle-Gro Co (NYSE:SMG) COO Sells $1,262,849.48 in Stock

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Scotts Miracle-Gro Co (NYSE:SMG) COO Michael C. Lukemire sold 11,443 shares of Scotts Miracle-Gro stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $110.36, for a total transaction of $1,262,849.48. Following the completion of the transaction, the chief operating officer now directly owns 44,522 shares of the company’s stock, valued at $4,913,447.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of SMG stock opened at $109.36 on Thursday. The business has a 50 day moving average of $102.03. Scotts Miracle-Gro Co has a 52 week low of $57.96 and a 52 week high of $114.63. The company has a market capitalization of $6.05 billion, a price-to-earnings ratio of 29.48, a PEG ratio of 2.21 and a beta of 0.86. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.45 and a quick ratio of 0.90.

Scotts Miracle-Gro (NYSE:SMG) last announced its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $3.11 EPS for the quarter, topping analysts’ consensus estimates of $2.74 by $0.37. Scotts Miracle-Gro had a net margin of 12.02% and a return on equity of 51.15%. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the business posted $2.67 earnings per share. The business’s revenue for the quarter was up 17.7% on a year-over-year basis. Sell-side analysts forecast that Scotts Miracle-Gro Co will post 4.5 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th will be paid a $0.58 dividend. The ex-dividend date is Monday, August 26th. This is a positive change from Scotts Miracle-Gro’s previous quarterly dividend of $0.55. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.12%. Scotts Miracle-Gro’s payout ratio is currently 59.30%.

Several research analysts have issued reports on SMG shares. TheStreet raised shares of Scotts Miracle-Gro from a “c” rating to a “b” rating in a report on Wednesday, May 1st. Bank of America set a $96.00 target price on shares of Scotts Miracle-Gro and gave the stock a “sell” rating in a report on Wednesday, July 31st. ValuEngine raised shares of Scotts Miracle-Gro from a “hold” rating to a “buy” rating in a report on Thursday, May 30th. Finally, SunTrust Banks lifted their price target on shares of Scotts Miracle-Gro to $120.00 and gave the stock a “positive” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $87.42.

Several hedge funds have recently made changes to their positions in SMG. Front Row Advisors LLC bought a new stake in shares of Scotts Miracle-Gro in the first quarter worth approximately $25,000. NEXT Financial Group Inc grew its position in Scotts Miracle-Gro by 806.7% during the second quarter. NEXT Financial Group Inc now owns 272 shares of the basic materials company’s stock valued at $27,000 after buying an additional 242 shares during the period. Shine Investment Advisory Services Inc. grew its position in Scotts Miracle-Gro by 106.5% during the first quarter. Shine Investment Advisory Services Inc. now owns 510 shares of the basic materials company’s stock valued at $40,000 after buying an additional 263 shares during the period. Bedel Financial Consulting Inc. grew its position in Scotts Miracle-Gro by 58.5% during the first quarter. Bedel Financial Consulting Inc. now owns 515 shares of the basic materials company’s stock valued at $40,000 after buying an additional 190 shares during the period. Finally, Zions Bancorporation N.A. bought a new stake in Scotts Miracle-Gro during the first quarter valued at approximately $49,000. Hedge funds and other institutional investors own 66.06% of the company’s stock.

About Scotts Miracle-Gro

The Scotts Miracle-Gro Company manufactures, markets, and sells consumer lawn and garden products in the United States and internationally. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It offers lawn care products, such as lawn fertilizers, grass seed products, spreaders, other durable products, and outdoor cleaners, as well as lawn-related weed, pest, and disease control products.

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Insider Buying and Selling by Quarter for Scotts Miracle-Gro (NYSE:SMG)

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