The Scotts Miracle-Gro Company (NYSE:SMG) Director Hagedorn Partnership, L.P. Sells 70,000 Shares

The Scotts Miracle-Gro Company (NYSE:SMG) Director Hagedorn Partnership, L.P. sold 70,000 shares of Scotts Miracle-Gro stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $62.28, for a total value of $4,359,600.00. Following the completion of the transaction, the director directly owned 13,274,274 shares in the company, valued at approximately $826,721,784.72. This represents a 0.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Scotts Miracle-Gro Price Performance

Shares of NYSE:SMG opened at $60.52 on Thursday. The business’s fifty day moving average price is $64.96 and its two-hundred day moving average price is $61.60. The Scotts Miracle-Gro Company has a fifty-two week low of $45.61 and a fifty-two week high of $93.90. The stock has a market capitalization of $3.49 billion, a price-to-earnings ratio of 79.63 and a beta of 1.97.

Scotts Miracle-Gro (NYSE:SMG) last announced its quarterly earnings results on Wednesday, July 30th. The basic materials company reported $2.59 earnings per share for the quarter, beating analysts’ consensus estimates of $2.19 by $0.40. Scotts Miracle-Gro had a negative return on equity of 60.46% and a net margin of 1.54%. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the prior year, the business posted $2.31 earnings per share. The business’s revenue was down 1.2% compared to the same quarter last year. Research analysts expect that The Scotts Miracle-Gro Company will post 3.42 EPS for the current fiscal year.

Scotts Miracle-Gro Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 22nd will be paid a $0.66 dividend. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $2.64 dividend on an annualized basis and a yield of 4.4%. Scotts Miracle-Gro’s payout ratio is currently 347.37%.

Wall Street Analyst Weigh In

SMG has been the topic of several recent analyst reports. Wells Fargo & Company lifted their price target on Scotts Miracle-Gro from $72.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 9th. Wall Street Zen raised Scotts Miracle-Gro from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd. Truist Financial set a $80.00 price target on Scotts Miracle-Gro and gave the stock a “buy” rating in a research report on Monday, July 14th. Stifel Nicolaus lowered their price objective on Scotts Miracle-Gro from $71.00 to $70.00 and set a “hold” rating on the stock in a research report on Monday. Finally, UBS Group set a $68.00 price objective on Scotts Miracle-Gro and gave the company a “neutral” rating in a research report on Thursday, July 31st. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $71.17.

Hedge Funds Weigh In On Scotts Miracle-Gro

Institutional investors and hedge funds have recently bought and sold shares of the business. American National Bank & Trust acquired a new position in shares of Scotts Miracle-Gro during the second quarter valued at $28,000. Spire Wealth Management lifted its stake in Scotts Miracle-Gro by 477.9% in the first quarter. Spire Wealth Management now owns 549 shares of the basic materials company’s stock valued at $30,000 after buying an additional 454 shares during the period. UMB Bank n.a. lifted its stake in Scotts Miracle-Gro by 479.4% in the first quarter. UMB Bank n.a. now owns 562 shares of the basic materials company’s stock valued at $31,000 after buying an additional 465 shares during the period. Avalon Trust Co acquired a new position in Scotts Miracle-Gro in the first quarter valued at about $41,000. Finally, Byrne Asset Management LLC acquired a new stake in shares of Scotts Miracle-Gro during the second quarter worth about $45,000. Institutional investors and hedge funds own 74.07% of the company’s stock.

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.