Paragon Capital Management Inc. purchased a new stake in shares of The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 28,919 shares of the basic materials company's stock, valued at approximately $2,507,000. Scotts Miracle-Gro comprises about 1.8% of Paragon Capital Management Inc.'s holdings, making the stock its 13th biggest position. Paragon Capital Management Inc. owned about 0.05% of Scotts Miracle-Gro at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Rise Advisors LLC grew its holdings 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 worth $25,000 after acquiring an additional 192 shares during the period. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Scotts Miracle-Gro in the 2nd quarter valued at approximately $25,000. Versant Capital Management Inc increased its stake in Scotts Miracle-Gro by 80.1% during the second quarter. Versant Capital Management Inc now owns 389 shares of the basic materials company's stock worth $25,000 after acquiring an additional 173 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Scotts Miracle-Gro during the 2nd quarter worth $29,000. Finally, Hexagon Capital Partners LLC lifted its position in Scotts Miracle-Gro by 41.3% in the second quarter. Hexagon Capital Partners LLC now owns 551 shares of the basic materials company's stock valued at $36,000 after buying an additional 161 shares during the last quarter. 74.07% of the stock is currently owned by institutional investors and hedge funds.
Scotts Miracle-Gro Stock Down 0.4 %
SMG stock traded down $0.34 during trading on Thursday, reaching $89.46. 397,468 shares of the company's stock were exchanged, compared to its average volume of 808,027. The Scotts Miracle-Gro Company has a 1-year low of $43.67 and a 1-year high of $91.09. The firm has a market cap of $5.08 billion, a PE ratio of -14.34 and a beta of 1.76. The company's fifty day moving average price is $75.80 and its 200-day moving average price is $70.67.
Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last released its 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. Scotts Miracle-Gro had a negative return on equity of 41.19% and a negative net margin of 7.38%. The company had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.20 billion. During the same quarter in the previous year, the business posted $1.17 EPS. The business's revenue for the quarter was up 7.5% on a year-over-year basis. As a group, sell-side analysts expect that The Scotts Miracle-Gro Company will post 2.62 earnings per share for the current fiscal year.
Scotts Miracle-Gro Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were issued a dividend of $0.66 per share. The ex-dividend date was Friday, August 23rd. This represents a $2.64 annualized dividend and a dividend yield of 2.95%. Scotts Miracle-Gro's payout ratio is -42.31%.
Insider Buying and Selling at Scotts Miracle-Gro
In other news, COO Nathan Eric Baxter sold 2,988 shares of the business's stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $70.93, for a total value of $211,938.84. Following the transaction, the chief operating officer now directly owns 37,920 shares of the company's stock, valued at $2,689,665.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of the firm'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 $6,038,270.90. Following the completion of the transaction, the insider now directly owns 13,608,238 shares of the company's stock, valued at $965,232,321.34. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Nathan Eric Baxter sold 2,988 shares of the business's stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $70.93, for a total value of $211,938.84. Following the transaction, the chief operating officer now directly owns 37,920 shares in the company, valued at $2,689,665.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 89,078 shares of company stock valued at $6,325,042 in the last quarter. Corporate insiders own 26.46% of the company's stock.
Analyst Ratings Changes
A number of equities analysts recently commented on SMG shares. Wells Fargo & Company raised their target price on Scotts Miracle-Gro from $75.00 to $85.00 and gave the company an "overweight" rating in a report on Thursday, August 1st. Stifel Nicolaus increased their price target on shares of Scotts Miracle-Gro from $70.00 to $75.00 and gave the company a "hold" rating in a research note on Friday, August 2nd. Finally, Truist Financial upped their price target on shares of Scotts Miracle-Gro from $65.00 to $90.00 and gave the company a "hold" rating in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Scotts Miracle-Gro has a consensus rating of "Hold" and a consensus price target of $83.75.
Read Our Latest Stock Analysis on Scotts Miracle-Gro
Scotts Miracle-Gro Company Profile
(
Free Report)
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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