The Scotts Miracle-Gro Company (NYSE:SMG) Director Sells $810,543.78 in Stock

The Scotts Miracle-Gro Company (NYSE:SMG) Director Hagedorn Partnership, L.P. sold 12,123 shares of Scotts Miracle-Gro stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $66.86, for a total value of $810,543.78. Following the completion of the sale, the director now directly owns 13,432,151 shares in the company, valued at $898,073,615.86. This represents a 0.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 value 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 value of $2,125,480.00.

Scotts Miracle-Gro Stock Performance

Shares of SMG stock opened at $66.65 on Friday. The Scotts Miracle-Gro Company has a 52-week low of $56.01 and a 52-week high of $93.90. The stock has a market cap of $3.83 billion, a price-to-earnings ratio of -138.84 and a beta of 1.74. The firm’s 50-day moving average is $69.64 and its 200-day moving average is $74.67.

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, beating analysts’ consensus estimates 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 period in the previous year, the business earned ($1.45) earnings per share. Sell-side analysts predict that The Scotts Miracle-Gro Company will post 3.4 EPS for the current fiscal year.

Scotts Miracle-Gro Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be issued a $0.66 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.64 annualized dividend and a dividend yield of 3.96%. Scotts Miracle-Gro’s dividend payout ratio is currently -549.99%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Wells Fargo & Company lowered their price objective on shares of Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. UBS Group cut their price target 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. JPMorgan Chase & Co. reduced 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 note on Thursday, November 7th. Truist Financial lowered their target price on 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. Finally, Stifel Nicolaus increased their price target on Scotts Miracle-Gro from $75.00 to $81.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $75.83.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SMG. Creative Planning grew its holdings in Scotts Miracle-Gro by 7.1% in the 2nd quarter. Creative Planning now owns 7,864 shares of the basic materials company’s stock valued at $512,000 after buying an additional 522 shares in the last quarter. CWM LLC boosted its holdings in Scotts Miracle-Gro by 10.3% in the 3rd quarter. CWM LLC now owns 10,842 shares of the basic materials company’s stock valued at $940,000 after purchasing an additional 1,011 shares during the period. Paragon Capital Management Inc. acquired a new position in shares of Scotts Miracle-Gro during the 3rd quarter worth approximately $2,507,000. Mitchell & Pahl Private Wealth LLC increased its holdings in shares of Scotts Miracle-Gro by 2.2% during the third 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 raised its position in shares of Scotts Miracle-Gro by 2.7% in the third quarter. Compass Wealth Management LLC now owns 67,626 shares of the basic materials company’s stock valued at $5,863,000 after buying an additional 1,765 shares in the last quarter. 74.07% of the stock is owned by institutional investors.

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.