The Scotts Miracle-Gro Company (NYSE:SMG) Director Sells $4,474,224.69 in Stock

The Scotts Miracle-Gro Company (NYSE:SMGGet Rating) Director Hagedorn Partnership, L.P. sold 77,691 shares of the company’s stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $57.59, for a total transaction of $4,474,224.69. Following the completion of the sale, the director now directly owns 14,472,222 shares in the company, valued at approximately $833,455,264.98. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Scotts Miracle-Gro Stock Performance

Scotts Miracle-Gro stock opened at $56.38 on Friday. The company has a current ratio of 2.06, a quick ratio of 0.66 and a debt-to-equity ratio of 19.13. The Scotts Miracle-Gro Company has a 1 year low of $39.06 and a 1 year high of $167.09. The company has a market cap of $3.12 billion, a PE ratio of -7.10 and a beta of 1.43. The company’s 50-day moving average is $49.71 and its two-hundred day moving average is $70.60.

Scotts Miracle-Gro Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 9th. Shareholders of record on Monday, November 28th will be given a dividend of $0.66 per share. The ex-dividend date is Friday, November 25th. This represents a $2.64 dividend on an annualized basis and a yield of 4.68%. Scotts Miracle-Gro’s payout ratio is presently -33.25%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SMG. Barclays raised shares of Scotts Miracle-Gro from an “equal weight” rating to an “overweight” rating and set a $75.00 target price on the stock in a report on Tuesday, November 8th. StockNews.com assumed coverage on shares of Scotts Miracle-Gro in a report on Wednesday, October 12th. They set a “sell” rating on the stock. TheStreet lowered shares of Scotts Miracle-Gro from a “c” rating to a “d+” rating in a report on Wednesday, August 3rd. Truist Financial decreased their price objective on shares of Scotts Miracle-Gro from $85.00 to $50.00 in a report on Thursday, November 3rd. Finally, Wells Fargo & Company decreased their price objective on shares of Scotts Miracle-Gro from $75.00 to $50.00 and set an “equal weight” rating on the stock in a report on Monday, October 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $58.57.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SMG. Canada Pension Plan Investment Board acquired a new position in Scotts Miracle-Gro during the 1st quarter valued at about $27,000. SRS Capital Advisors Inc. raised its position in shares of Scotts Miracle-Gro by 208.1% in the 2nd quarter. SRS Capital Advisors Inc. now owns 379 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 256 shares during the period. Byrne Asset Management LLC raised its position in shares of Scotts Miracle-Gro by 78.3% in the 2nd quarter. Byrne Asset Management LLC now owns 353 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 155 shares during the period. Whittier Trust Co. of Nevada Inc. raised its position in shares of Scotts Miracle-Gro by 84.0% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 390 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 178 shares during the period. Finally, CoreCap Advisors LLC acquired a new stake in shares of Scotts Miracle-Gro in the 2nd quarter valued at approximately $39,000. 66.81% of the stock is currently owned by institutional investors and hedge funds.

Scotts Miracle-Gro Company Profile

(Get Rating)

The Scotts Miracle-Gro Company engages in the manufacture, marketing, and sale of products for lawn, garden care, and indoor and hydroponic gardening in the United States and internationally. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It provides lawn care products comprising lawn fertilizers, grass seed products, spreaders, other durable products, and outdoor cleaners, as well as lawn-related weed, pest, and disease control products; gardening and landscape products include water-soluble and continuous-release plant foods, potting mixes and garden soils, mulch and decorative groundcover products, plant-related pest and disease control products, organic garden products, and lives goods and seeding solutions.

Further Reading

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