Point72 Asia Singapore Pte. Ltd. bought a new position in The Scotts Miracle-Gro Company (NYSE:SMG – Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 439 shares of the basic materials company’s stock, valued at approximately $29,000.
Several other institutional investors also recently modified their holdings of SMG. Rise Advisors LLC raised its stake in Scotts Miracle-Gro by 135.2% during the first quarter. Rise Advisors LLC now owns 334 shares of the basic materials company’s stock valued at $25,000 after buying an additional 192 shares during the last quarter. Versant Capital Management Inc raised its position in shares of Scotts Miracle-Gro by 80.1% in the 2nd quarter. Versant Capital Management Inc now owns 389 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 173 shares during the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in Scotts Miracle-Gro in the 2nd quarter worth about $25,000. Hexagon Capital Partners LLC grew its position in Scotts Miracle-Gro by 41.3% during the 2nd quarter. Hexagon Capital Partners LLC now owns 551 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 161 shares during the last quarter. Finally, Abich Financial Wealth Management LLC increased its stake in Scotts Miracle-Gro by 11,216.7% during the 1st quarter. Abich Financial Wealth Management LLC now owns 679 shares of the basic materials company’s stock valued at $51,000 after purchasing an additional 673 shares in the last quarter. 74.07% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on SMG shares. Wells Fargo & Company raised their price target on shares of Scotts Miracle-Gro from $75.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Stifel Nicolaus boosted their price target on Scotts Miracle-Gro from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $80.00.
Insider Transactions at Scotts Miracle-Gro
In related news, COO Nathan Eric Baxter sold 2,988 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $70.93, for a total transaction of $211,938.84. Following the completion of the sale, the chief operating officer now directly owns 37,920 shares in the company, valued at $2,689,665.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Stephen L. Johnson sold 960 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $77.95, for a total value of $74,832.00. Following the transaction, the director now owns 22,940 shares of the company’s stock, valued at $1,788,173. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Nathan Eric Baxter sold 2,988 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $70.93, for a total value of $211,938.84. Following the transaction, the chief operating officer now owns 37,920 shares of the company’s stock, valued at $2,689,665.60. The disclosure for this sale can be found here. Insiders have sold 89,078 shares of company stock worth $6,325,042 in the last quarter. Company insiders own 26.46% of the company’s stock.
Scotts Miracle-Gro Stock Up 0.0 %
Shares of Scotts Miracle-Gro stock opened at $86.71 on Wednesday. The Scotts Miracle-Gro Company has a twelve month low of $43.67 and a twelve month high of $88.35. The company’s 50 day moving average is $72.44 and its 200 day moving average is $69.54. The company has a market cap of $4.93 billion, a price-to-earnings ratio of -13.90 and a beta of 1.75.
Scotts Miracle-Gro (NYSE:SMG – Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.42. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Scotts Miracle-Gro had a negative return on equity of 41.19% and a negative net margin of 7.38%. The company’s revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.17 EPS. Sell-side analysts expect that The Scotts Miracle-Gro Company will post 2.62 EPS for the current fiscal year.
Scotts Miracle-Gro Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were given a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 3.04%. The ex-dividend date was Friday, August 23rd. Scotts Miracle-Gro’s payout ratio is currently -42.31%.
About Scotts Miracle-Gro
The Scotts Miracle-Gro Company, together with its subsidiaries, manufactures, markets, and sells products for lawn, garden care, and indoor and hydroponic gardening in the United States and internationally. It operates through three segments: U.S. Consumer, Hawthorne, and Other. The company provides lawn care products, comprising lawn fertilizers, grass seed products, spreaders, and other durable products, as well as lawn-related weed, pest, and disease control products; and gardening and landscape products, which include water-soluble and continuous-release plant foods, potting mixes, garden soils, mulches and ground cover products, plant-related pest and disease control products, organic garden products, and live goods and seeding solutions.
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