The Scotts Miracle-Gro Company (NYSE:SMG) Major Shareholder Sells $38,570.00 in Stock

The Scotts Miracle-Gro Company (NYSE:SMG) major shareholder Hagedorn Partnership, L.P. sold 500 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $77.14, for a total value of $38,570.00. Following the sale, the insider now directly owns 13,553,274 shares in the company, valued at $1,045,499,556.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• 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 Stock Performance

NYSE:SMG opened at $75.95 on Thursday. The stock’s fifty day moving average is $82.51 and its 200 day moving average is $73.32. The Scotts Miracle-Gro Company has a fifty-two week low of $53.43 and a fifty-two week high of $93.90.

Scotts Miracle-Gro Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be given a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend is Friday, November 22nd. Scotts Miracle-Gro’s dividend payout ratio (DPR) is presently -382.61%.

Hedge Funds Weigh In On Scotts Miracle-Gro

Several hedge funds have recently bought and sold shares of SMG. Cetera Investment Advisers grew its position in Scotts Miracle-Gro by 974.4% in the 1st quarter. Cetera Investment Advisers now owns 41,987 shares of the basic materials company’s stock valued at $3,132,000 after acquiring an additional 38,079 shares during the last quarter. Cetera Advisors LLC grew its position in Scotts Miracle-Gro by 65.0% in the 1st quarter. Cetera Advisors LLC now owns 5,198 shares of the basic materials company’s stock valued at $388,000 after acquiring an additional 2,048 shares during the last quarter. Versant Capital Management Inc grew its position in Scotts Miracle-Gro by 80.1% in the 2nd quarter. Versant Capital Management Inc now owns 389 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 173 shares during the last quarter. Simplicity Wealth LLC grew its position in Scotts Miracle-Gro by 12.0% in the 2nd quarter. Simplicity Wealth LLC now owns 71,412 shares of the basic materials company’s stock valued at $4,646,000 after acquiring an additional 7,644 shares during the last quarter. Finally, OLD National Bancorp IN bought a new position in shares of Scotts Miracle-Gro during the 2nd quarter worth $320,000. Institutional investors own 74.07% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SMG. UBS Group decreased their price objective on Scotts Miracle-Gro from $90.00 to $77.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. JPMorgan Chase & Co. decreased their price objective on Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Stifel Nicolaus upped their price objective on Scotts Miracle-Gro from $75.00 to $81.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Wells Fargo & Company decreased their price objective on Scotts Miracle-Gro from $95.00 to $85.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Finally, Truist Financial decreased their price target on Scotts Miracle-Gro from $90.00 to $70.00 and set a “hold” rating on the stock in a report on Friday, November 8th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $78.60.

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.