Scotts Miracle-Gro Co. (SMG) To Go Ex-Dividend on November 22nd
Scotts Miracle-Gro Co. (NYSE:SMG) announced a quarterly dividend on Thursday, November 10th. Stockholders of record on Friday, November 25th will be given a dividend of 0.50 per share on Friday, December 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend is Tuesday, November 22nd.
Shares of Scotts Miracle-Gro (NYSE:SMG) opened at 87.66 on Thursday. Scotts Miracle-Gro has a 12-month low of $62.20 and a 12-month high of $91.66. The firm has a market cap of $5.31 billion, a P/E ratio of 16.98 and a beta of 0.65. The stock’s 50 day moving average price is $86.29 and its 200-day moving average price is $77.45.
Scotts Miracle-Gro (NYSE:SMG) last released its quarterly earnings data on Thursday, November 3rd. The company reported ($0.30) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.28) by $0.02. The firm had revenue of $402.30 million for the quarter, compared to the consensus estimate of $370 million. Scotts Miracle-Gro had a net margin of 11.09% and a return on equity of 33.46%. The company’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.12) EPS. On average, analysts predict that Scotts Miracle-Gro will post $4.22 earnings per share for the current fiscal year.
In other Scotts Miracle-Gro news, EVP Ivan C. Smith sold 1,394 shares of the company’s stock in a transaction on Friday, September 2nd. The stock was sold at an average price of $82.92, for a total value of $115,590.48. Following the completion of the transaction, the executive vice president now owns 6,711 shares in the company, valued at approximately $556,476.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Thomas Randal Coleman sold 789 shares of the company’s stock in a transaction on Thursday, October 6th. The shares were sold at an average price of $82.65, for a total value of $65,210.85. Following the completion of the transaction, the chief financial officer now owns 5,112 shares of the company’s stock, valued at approximately $422,506.80. The disclosure for this sale can be found here. 27.28% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisor Group Inc. acquired a new position in shares of Scotts Miracle-Gro during the second quarter worth about $153,000. Fort Washington Investment Advisors Inc OH purchased a new position in shares of Scotts Miracle-Gro during the second quarter worth approximately $210,000. Virtu Financial LLC purchased a new position in shares of Scotts Miracle-Gro during the second quarter worth approximately $220,000. Pacer Advisors Inc. purchased a new position in shares of Scotts Miracle-Gro during the second quarter worth approximately $292,000. Finally, Panagora Asset Management Inc. boosted its position in shares of Scotts Miracle-Gro by 87.6% in the third quarter. Panagora Asset Management Inc. now owns 3,899 shares of the company’s stock worth $325,000 after buying an additional 1,821 shares in the last quarter. Hedge funds and other institutional investors own 70.15% of the company’s stock.
SMG has been the subject of several recent research reports. Zacks Investment Research upgraded Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a report on Saturday, August 6th. Gabelli initiated coverage on Scotts Miracle-Gro in a report on Thursday, October 20th. They set a “buy” rating for the company. JPMorgan Chase & Co. upgraded Scotts Miracle-Gro from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $70.00 to $85.00 in a report on Thursday, August 4th. Finally, Tigress Financial reiterated a “buy” rating on shares of Scotts Miracle-Gro in a report on Monday, August 29th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Scotts Miracle-Gro has a consensus rating of “Buy” and an average price target of $89.67.
Scotts Miracle-Gro Company Profile
The Scotts Miracle-Gro Company (Scotts Miracle-Gro) is a manufacturer and marketer of branded consumer lawn and garden products. The Company’s segments include Global Consumer. In North America, its brands include Scotts and Turf Builder lawn and grass seed products; Miracle-Gro, Nature’s Care, Scotts, LiquaFeed and Osmocote gardening and landscape products; and Ortho, Roundup, Home Defense and Tomcat branded insect control, weed control and rodent control products.
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