Hagedorn Partnership, L.P. Sells 500 Shares of The Scotts Miracle-Gro Company (NYSE:SMG) Stock

The Scotts Miracle-Gro Company (NYSE:SMG) major shareholder Hagedorn Partnership, L.P. sold 500 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $77.14, for a total transaction of $38,570.00. Following the transaction, the insider now directly owns 13,553,274 shares in the company, valued at approximately $1,045,499,556.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Major shareholders that own at least 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 shares were sold at an average price of $75.91, for a total transaction of $2,125,480.00.

Scotts Miracle-Gro Trading Down 0.2 %

Shares of SMG traded down $0.18 during midday trading on Monday, hitting $76.91. The stock had a trading volume of 818,244 shares, compared to its average volume of 814,611. The Scotts Miracle-Gro Company has a fifty-two week low of $53.43 and a fifty-two week high of $93.90. The business has a 50-day simple moving average of $82.64 and a two-hundred day simple moving average of $73.21. The firm has a market cap of $4.42 billion, a P/E ratio of -110.70 and a beta of 1.76.

Scotts Miracle-Gro Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be issued a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 3.43%. The ex-dividend date of this dividend is Friday, November 22nd. Scotts Miracle-Gro’s payout ratio is -382.61%.

Analyst Upgrades and Downgrades

SMG has been the topic of several research analyst reports. Wells Fargo & Company lowered their target price on shares of Scotts Miracle-Gro from $95.00 to $85.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. JPMorgan Chase & Co. 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 research note on Thursday, November 7th. Stifel Nicolaus lifted their price objective on shares of Scotts Miracle-Gro from $75.00 to $81.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. UBS Group lowered their price objective on shares of Scotts Miracle-Gro from $90.00 to $77.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Finally, Truist Financial lowered their price objective on shares of Scotts Miracle-Gro from $90.00 to $70.00 and set a “hold” rating on the stock in a research note on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Scotts Miracle-Gro has an average rating of “Hold” and a consensus target price of $78.60.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Cetera Investment Advisers lifted its holdings in shares of Scotts Miracle-Gro by 974.4% during the 1st quarter. Cetera Investment Advisers now owns 41,987 shares of the basic materials company’s stock valued at $3,132,000 after buying an additional 38,079 shares during the last quarter. Cetera Advisors LLC lifted its holdings in shares of Scotts Miracle-Gro by 65.0% during the 1st quarter. Cetera Advisors LLC now owns 5,198 shares of the basic materials company’s stock valued at $388,000 after buying an additional 2,048 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of 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 in the last quarter. Simplicity Wealth LLC increased 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 worth $4,646,000 after buying an additional 7,644 shares during the period. Finally, OLD National Bancorp IN bought a new position in Scotts Miracle-Gro in the 2nd quarter worth approximately $320,000. 74.07% of the stock is currently owned by institutional investors and hedge funds.

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.