Insider Selling: Scotts Miracle-Gro Major Shareholder Sells 27,552 Shares of Stock (SMG)
Scotts Miracle-Gro (NYSE:SMG) major shareholder Hagedorn Partnership, L.P. unloaded 27,552 shares of Scotts Miracle-Gro stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $55.00, for a total value of $1,515,360.00. Following the completion of the sale, the insider now directly owns 16,628,281 shares of the company’s stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
Several analysts have recently commented on the stock. Analysts at Zacks upgraded shares of Scotts Miracle-Gro (NYSE:SMG) from an “underperform” rating to a “neutral” rating in a research note to investors on Thursday, August 8th. They now have a $53.70 price target on the stock. Separately, analysts at BMO Capital Markets raised their price target on shares of Scotts Miracle-Gro (NYSE:SMG) from $43.00 to $50.00 in a research note to investors on Wednesday, August 7th. They now have an “underperform” rating on the stock. Finally, analysts at Tigress Financial downgraded shares of Scotts Miracle-Gro (NYSE:SMG) to a “neutral” rating in a research note to investors on Wednesday, July 24th.
Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $48.54.
Scotts Miracle-Gro (NYSE:SMG) traded down 0.02% during mid-day trading on Wednesday, hitting $55.0599. The stock had a trading volume of 68,842 shares. Scotts Miracle-Gro has a 1-year low of $39.64 and a 1-year high of $55.59. The stock’s 50-day moving average is $52.72 and its 200-day moving average is $48.16. The company has a market cap of $3.407 billion and a P/E ratio of 24.54.
Scotts Miracle-Gro (NYSE:SMG) last announced its earnings results on Tuesday, August 6th. The company reported $2.46 EPS for the quarter, beating the Thomson Reuters consensus estimate of $2.43 by $0.03. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the company posted $1.60 earnings per share. The company’s quarterly revenue was up 8.8% on a year-over-year basis. Analysts expect that Scotts Miracle-Gro will post $2.60 EPS for the current fiscal year.
The Scotts Miracle-Gro Company, (NYSE:SMG) is a manufacturer and marketer of branded consumer lawn and gardens products.
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