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

The Scotts Miracle-Gro Company (NYSE:SMG) Director Hagedorn Partnership, L.P. sold 12,123 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $66.86, for a total transaction of $810,543.78. Following the transaction, the director now owns 13,432,151 shares in the company, valued at approximately $898,073,615.86. This trade represents a 0.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 transaction 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 transaction of $2,125,480.00.

Scotts Miracle-Gro Stock Up 1.7 %

NYSE:SMG opened at $67.58 on Wednesday. The company has a market capitalization of $3.88 billion, a PE ratio of -140.79 and a beta of 1.74. The Scotts Miracle-Gro Company has a 52-week low of $54.74 and a 52-week high of $93.90. The stock has a fifty day simple moving average of $70.01 and a 200-day simple moving average of $74.78.

Scotts Miracle-Gro (NYSE:SMG) last released its quarterly earnings results on Wednesday, January 29th. The basic materials company reported ($0.89) earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm posted ($1.45) earnings per share. As a group, equities analysts anticipate that The Scotts Miracle-Gro Company will post 3.4 earnings per share for the current year.

Scotts Miracle-Gro Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be paid a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 3.91%. The ex-dividend date is Friday, February 21st. Scotts Miracle-Gro’s payout ratio is -549.99%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Creative Planning increased its stake in shares of Scotts Miracle-Gro by 7.1% during the 2nd quarter. Creative Planning now owns 7,864 shares of the basic materials company’s stock valued at $512,000 after acquiring an additional 522 shares during the last quarter. CWM LLC grew its holdings in shares of Scotts Miracle-Gro by 10.3% during the 3rd quarter. CWM LLC now owns 10,842 shares of the basic materials company’s stock worth $940,000 after purchasing an additional 1,011 shares during the period. Paragon Capital Management Inc. purchased a new stake in shares of Scotts Miracle-Gro during the 3rd quarter worth about $2,507,000. Mitchell & Pahl Private Wealth LLC grew its holdings in shares of Scotts Miracle-Gro by 2.2% during the 3rd quarter. Mitchell & Pahl Private Wealth LLC now owns 9,370 shares of the basic materials company’s stock worth $812,000 after purchasing an additional 203 shares during the period. Finally, Compass Wealth Management LLC grew its holdings in shares of Scotts Miracle-Gro by 2.7% during the 3rd quarter. Compass Wealth Management LLC now owns 67,626 shares of the basic materials company’s stock worth $5,863,000 after purchasing an additional 1,765 shares during the period. 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 analyst reports. UBS Group lowered their price objective on shares of Scotts Miracle-Gro from $77.00 to $72.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Jefferies Financial Group initiated coverage on shares of Scotts Miracle-Gro in a research report on Monday, December 9th. They issued a “hold” rating and a $72.00 price objective on the stock. Truist Financial lowered their price objective on shares of Scotts Miracle-Gro from $90.00 to $70.00 and set a “hold” rating on the stock in a research report on Friday, November 8th. Wells Fargo & Company decreased their target price on shares of Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Finally, Stifel Nicolaus boosted their target price on shares of Scotts Miracle-Gro from $75.00 to $81.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Scotts Miracle-Gro has an average rating of “Hold” and a consensus target price of $75.83.

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.