The Scotts Miracle-Gro Company (NYSE:SMG) Director Hagedorn Partnership, L.P. Sells 31,000 Shares

The Scotts Miracle-Gro Company (NYSE:SMG) Director Hagedorn Partnership, L.P. sold 31,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $69.67, for a total value of $2,159,770.00. Following the sale, the director now owns 13,746,012 shares in the company, valued at $957,684,656.04. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Monday, March 4th, Hagedorn Partnership, L.P. sold 86,356 shares of Scotts Miracle-Gro stock. The shares were sold at an average price of $65.41, for a total transaction of $5,648,545.96.
• On Friday, February 23rd, Hagedorn Partnership, L.P. sold 15,000 shares of Scotts Miracle-Gro stock. The shares were sold at an average price of $58.40, for a total transaction of $876,000.00.

Scotts Miracle-Gro Stock Performance

Shares of Scotts Miracle-Gro stock traded up $1.72 on Thursday, reaching $68.26. 1,138,980 shares of the company were exchanged, compared to its average volume of 767,365. The Scotts Miracle-Gro Company has a 1-year low of $43.67 and a 1-year high of $77.95. The firm has a market cap of $3.87 billion, a price-to-earnings ratio of -10.66 and a beta of 1.70. The company’s 50-day moving average is $69.55 and its two-hundred day moving average is $61.62.

Scotts Miracle-Gro (NYSE:SMG) last issued its earnings results on Wednesday, May 1st. The basic materials company reported $3.69 earnings per share for the quarter, topping the consensus estimate of $3.33 by $0.36. Scotts Miracle-Gro had a negative return on equity of 20.97% and a negative net margin of 10.14%. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period last year, the company earned $3.78 earnings per share. The firm’s revenue for the quarter was down .4% on a year-over-year basis. As a group, sell-side analysts forecast that The Scotts Miracle-Gro Company will post 2.65 earnings per share for the current year.

Scotts Miracle-Gro Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 24th will be given a dividend of $0.66 per share. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $2.64 annualized dividend and a dividend yield of 3.87%. Scotts Miracle-Gro’s dividend payout ratio is presently -42.31%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Wells Fargo & Company reduced their price target on Scotts Miracle-Gro from $85.00 to $83.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. StockNews.com raised shares of Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a research report on Thursday, April 4th. Truist Financial cut shares of Scotts Miracle-Gro from a “buy” rating to a “hold” rating and upped their price target for the company from $65.00 to $75.00 in a report on Friday, April 5th. Raymond James restated a “market perform” rating on shares of Scotts Miracle-Gro in a research note on Monday, March 25th. Finally, Stifel Nicolaus upped their price objective on Scotts Miracle-Gro from $55.00 to $65.00 and gave the company a “hold” rating in a research note on Monday, March 4th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Scotts Miracle-Gro has a consensus rating of “Hold” and an average price target of $73.00.

Institutional Trading of Scotts Miracle-Gro

Several large investors have recently added to or reduced their stakes in SMG. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Scotts Miracle-Gro by 29.2% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 96,707 shares of the basic materials company’s stock worth $4,998,000 after purchasing an additional 21,834 shares in the last quarter. New York State Teachers Retirement System boosted its stake in shares of Scotts Miracle-Gro by 4.3% during the 3rd quarter. New York State Teachers Retirement System now owns 51,480 shares of the basic materials company’s stock worth $2,660,000 after acquiring an additional 2,134 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Scotts Miracle-Gro by 18.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,465 shares of the basic materials company’s stock worth $334,000 after purchasing an additional 1,024 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in shares of Scotts Miracle-Gro during the third quarter valued at $316,000. Finally, Mitchell & Pahl Private Wealth LLC boosted its position in shares of Scotts Miracle-Gro by 28.2% in the 3rd quarter. Mitchell & Pahl Private Wealth LLC now owns 8,159 shares of the basic materials company’s stock valued at $422,000 after purchasing an additional 1,795 shares during the period. 74.07% of the stock is currently owned by institutional investors and hedge funds.

About Scotts Miracle-Gro

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.