The Scotts Miracle-Gro Company (NYSE:SMG) COO Sells $856,127.83 in Stock

The Scotts Miracle-Gro Company (NYSE:SMG) COO Nathan Eric Baxter sold 11,359 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $75.37, for a total value of $856,127.83. Following the completion of the transaction, the chief operating officer now owns 51,631 shares in the company, valued at $3,891,428.47. This trade represents a 18.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Scotts Miracle-Gro Stock Up 1.1 %

Shares of SMG opened at $74.34 on Friday. The Scotts Miracle-Gro Company has a 52-week low of $53.43 and a 52-week high of $93.90. The company has a 50-day simple moving average of $81.03 and a 200-day simple moving average of $73.61. The company has a market capitalization of $4.27 billion, a PE ratio of -107.73 and a beta of 1.71.

Scotts Miracle-Gro Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were given a dividend of $0.66 per share. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.55%. Scotts Miracle-Gro’s payout ratio is -382.61%.

Institutional Investors Weigh In On Scotts Miracle-Gro

A number of institutional investors and hedge funds have recently modified their holdings of SMG. Whittier Trust Co. of Nevada Inc. acquired a new position in Scotts Miracle-Gro during the second quarter worth $25,000. Global X Japan Co. Ltd. acquired a new position in shares of Scotts Miracle-Gro during the 3rd quarter worth $26,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Scotts Miracle-Gro in the 2nd quarter worth about $29,000. Farther Finance Advisors LLC grew its stake in Scotts Miracle-Gro by 427.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 332 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 269 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in Scotts Miracle-Gro by 83.6% during the 3rd quarter. Blue Trust Inc. now owns 369 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 168 shares in the last quarter. Institutional investors and hedge funds own 74.07% of the company’s stock.

Wall Street Analyst Weigh In

SMG has been the topic of a number of recent research reports. Truist Financial dropped their target price on Scotts Miracle-Gro from $90.00 to $70.00 and set a “hold” rating on the stock in a report on Friday, November 8th. Wells Fargo & Company dropped their price objective on shares of Scotts Miracle-Gro from $95.00 to $85.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Jefferies Financial Group began coverage on shares of Scotts Miracle-Gro in a research note on Monday. They issued a “hold” rating and a $72.00 target price for the company. JPMorgan Chase & Co. dropped their price target on shares of Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Finally, Stifel Nicolaus raised their price objective on shares of Scotts Miracle-Gro from $75.00 to $81.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $77.50.

Scotts Miracle-Gro Company Profile

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.