Hagedorn Partnership, L.P. Sells 12,123 Shares of The Scotts Miracle-Gro Company (NYSE:SMG) Stock

The Scotts Miracle-Gro Company (NYSE:SMG) Director Hagedorn Partnership, L.P. sold 12,123 shares of Scotts Miracle-Gro stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $66.86, for a total transaction of $810,543.78. Following the completion of the sale, the director now owns 13,432,151 shares of the company’s stock, valued at $898,073,615.86. This trade represents a 0.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Hagedorn Partnership, L.P. also recently made the following trade(s):

• On Monday, December 2nd, Hagedorn Partnership, L.P. sold 500 shares of Scotts Miracle-Gro stock. The stock was sold at an average price of $77.14, for a total value of $38,570.00.
• On Wednesday, November 27th, Hagedorn Partnership, L.P. sold 28,000 shares of Scotts Miracle-Gro stock. The stock was sold at an average price of $75.91, for a total value of $2,125,480.00.

Scotts Miracle-Gro Trading Down 2.4 %

Shares of SMG opened at $65.97 on Thursday. The firm’s fifty day simple moving average is $69.81 and its 200-day simple moving average is $74.72. The firm has a market capitalization of $3.79 billion, a price-to-earnings ratio of -137.43 and a beta of 1.74. The Scotts Miracle-Gro Company has a twelve month low of $54.74 and a twelve month high of $93.90.

Scotts Miracle-Gro (NYSE:SMG) last announced its quarterly earnings results on Wednesday, January 29th. The basic materials company reported ($0.89) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.23) by $0.34. Scotts Miracle-Gro had a negative return on equity of 51.48% and a negative net margin of 0.67%. During the same quarter in the prior year, the business posted ($1.45) earnings per share. On average, analysts predict that The Scotts Miracle-Gro Company will post 3.4 earnings per share for the current fiscal year.

Scotts Miracle-Gro Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be issued a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 4.00%. The ex-dividend date is Friday, February 21st. Scotts Miracle-Gro’s payout ratio is -550.00%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on SMG shares. Wells Fargo & Company cut 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 Tuesday, January 7th. Jefferies Financial Group began coverage on shares of Scotts Miracle-Gro in a research note on Monday, December 9th. They set a “hold” rating and a $72.00 target price on the stock. Stifel Nicolaus raised their price target 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. JPMorgan Chase & Co. cut their price objective on Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Finally, Truist Financial decreased their target price on Scotts Miracle-Gro from $90.00 to $70.00 and set a “hold” rating for the company in a report on Friday, November 8th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $75.83.

Institutional Investors Weigh In On Scotts Miracle-Gro

Several hedge funds and other institutional investors have recently bought and sold shares of SMG. Atala Financial Inc purchased a new position in shares of Scotts Miracle-Gro during the fourth quarter worth about $25,000. Global X Japan Co. Ltd. acquired a new stake in shares of Scotts Miracle-Gro in the 3rd quarter valued at about $26,000. SBI Securities Co. Ltd. purchased a new position in Scotts Miracle-Gro during the 4th quarter worth approximately $26,000. Farther Finance Advisors LLC increased its position in Scotts Miracle-Gro by 427.0% during the third quarter. Farther Finance Advisors LLC now owns 332 shares of the basic materials company’s stock worth $29,000 after buying an additional 269 shares during the period. Finally, Blue Trust Inc. lifted its stake in Scotts Miracle-Gro by 83.6% in the third quarter. Blue Trust Inc. now owns 369 shares of the basic materials company’s stock valued at $32,000 after buying an additional 168 shares during the last quarter. 74.07% of the stock is currently owned by institutional investors and hedge funds.

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.