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 the business’s 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 transaction, the director now directly owns 13,432,151 shares of the company’s stock, valued at approximately $898,073,615.86. This represents a 0.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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 shares were 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 shares were sold at an average price of $75.91, for a total transaction of $2,125,480.00.

Scotts Miracle-Gro Stock Up 1.7 %

Shares of Scotts Miracle-Gro stock traded up $1.11 during trading hours on Tuesday, hitting $67.58. The company’s stock had a trading volume of 783,228 shares, compared to its average volume of 703,920. The Scotts Miracle-Gro Company has a 1-year low of $54.74 and a 1-year high of $93.90. The business has a fifty day moving average of $70.18 and a 200 day moving average of $74.80. The company has a market capitalization of $3.88 billion, a PE ratio of -140.79 and a beta of 1.74.

Scotts Miracle-Gro (NYSE:SMG) last released its quarterly earnings data 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 net margin of 0.67% and a negative return on equity of 51.48%. During the same period last year, the company earned ($1.45) earnings per share. On average, sell-side analysts anticipate that The Scotts Miracle-Gro Company will post 3.4 earnings per share for the current fiscal year.

Scotts Miracle-Gro Dividend Announcement

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

Analysts Set New Price Targets

SMG has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. Stifel Nicolaus upped their price target 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. Truist Financial dropped their price target on shares of Scotts Miracle-Gro from $90.00 to $70.00 and set a “hold” rating for the company in a research report on Friday, November 8th. Wells Fargo & Company dropped their price target on shares of Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Finally, UBS Group dropped their price target on shares of Scotts Miracle-Gro from $77.00 to $72.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Scotts Miracle-Gro currently has an average rating of “Hold” and a consensus price target of $75.83.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. EFG Asset Management North America Corp. boosted its stake in shares of Scotts Miracle-Gro by 59.1% in the fourth quarter. EFG Asset Management North America Corp. now owns 40,028 shares of the basic materials company’s stock valued at $2,658,000 after purchasing an additional 14,862 shares during the period. LPL Financial LLC boosted its stake in shares of Scotts Miracle-Gro by 9.0% in the fourth quarter. LPL Financial LLC now owns 63,592 shares of the basic materials company’s stock valued at $4,219,000 after purchasing an additional 5,275 shares during the period. Fox Run Management L.L.C. purchased a new position in shares of Scotts Miracle-Gro in the fourth quarter valued at $490,000. KLP Kapitalforvaltning AS purchased a new position in shares of Scotts Miracle-Gro in the fourth quarter valued at $590,000. Finally, American Century Companies Inc. boosted its stake in shares of Scotts Miracle-Gro by 534.3% in the fourth quarter. American Century Companies Inc. now owns 42,424 shares of the basic materials company’s stock valued at $2,814,000 after purchasing an additional 35,736 shares during the period. 74.07% of the stock is currently owned by hedge funds and other institutional investors.

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.