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 business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $69.67, for a total transaction of $2,159,770.00. Following the sale, the director now owns 13,746,012 shares of the company’s stock, valued at approximately $957,684,656.04. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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 stock was 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 value of $876,000.00.

Scotts Miracle-Gro Stock Up 2.6 %

NYSE SMG traded up $1.72 during trading hours on Thursday, reaching $68.26. 1,138,980 shares of the company were exchanged, compared to its average volume of 767,365. The stock has a market capitalization of $3.87 billion, a P/E ratio of -10.66 and a beta of 1.70. The Scotts Miracle-Gro Company has a 1 year low of $43.67 and a 1 year high of $77.95. The business’s 50 day simple moving average is $69.55 and its 200-day simple moving average is $61.62.

Scotts Miracle-Gro (NYSE:SMG) last announced its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $3.69 earnings per share for the quarter, beating 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 business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the company earned $3.78 earnings per share. Scotts Miracle-Gro’s revenue was down .4% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Scotts Miracle-Gro Company will post 2.65 earnings per share for the current year.

Scotts Miracle-Gro Announces Dividend

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

Institutional Investors Weigh In On Scotts Miracle-Gro

Several institutional investors have recently made changes to their positions in SMG. Rise Advisors LLC boosted its stake in Scotts Miracle-Gro by 135.2% in the 1st quarter. Rise Advisors LLC now owns 334 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 192 shares during the period. GAMMA Investing LLC purchased a new stake in Scotts Miracle-Gro in the 4th quarter worth approximately $29,000. Frazier Financial Advisors LLC bought a new position in Scotts Miracle-Gro in the 4th quarter valued at $36,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Scotts Miracle-Gro in the fourth quarter worth $47,000. Finally, Headlands Technologies LLC bought a new stake in Scotts Miracle-Gro during the third quarter valued at $52,000. Hedge funds and other institutional investors own 74.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on SMG shares. Raymond James restated a “market perform” rating on shares of Scotts Miracle-Gro in a report on Monday, March 25th. Truist Financial downgraded shares of Scotts Miracle-Gro from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $65.00 to $75.00 in a report on Friday, April 5th. Wells Fargo & Company dropped their price target on shares of Scotts Miracle-Gro from $85.00 to $83.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. Stifel Nicolaus upped their price objective on shares of Scotts Miracle-Gro from $55.00 to $65.00 and gave the stock a “hold” rating in a research report on Monday, March 4th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Scotts Miracle-Gro from $70.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Five 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, the company presently has a consensus rating of “Hold” and a consensus target price of $73.00.

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.