Hagedorn Partnership, L.P. Sells 77,691 Shares of The Scotts Miracle-Gro Company (NYSE:SMG) Stock

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

Scotts Miracle-Gro Stock Performance

SMG opened at $56.38 on Thursday. 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 debt-to-equity ratio of 19.13, a current ratio of 2.06 and a quick ratio of 0.66. The stock’s 50 day simple moving average is $49.65 and its 200 day simple moving average is $70.70. The stock has a market cap of $3.12 billion, a P/E ratio of -7.10 and a beta of 1.43.

Scotts Miracle-Gro Announces Dividend

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

Institutional Investors Weigh In On Scotts Miracle-Gro

A number of institutional investors and hedge funds have recently bought and sold shares of SMG. Park Avenue Securities LLC lifted its stake in Scotts Miracle-Gro by 26.4% in the 1st quarter. Park Avenue Securities LLC now owns 3,854 shares of the basic materials company’s stock valued at $474,000 after buying an additional 804 shares in the last quarter. SG Americas Securities LLC lifted its stake in Scotts Miracle-Gro by 254.2% in the 1st quarter. SG Americas Securities LLC now owns 18,297 shares of the basic materials company’s stock valued at $2,250,000 after buying an additional 13,131 shares in the last quarter. Mutual of America Capital Management LLC lifted its stake in Scotts Miracle-Gro by 1.6% in the 1st quarter. Mutual of America Capital Management LLC now owns 37,001 shares of the basic materials company’s stock valued at $4,550,000 after buying an additional 571 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Scotts Miracle-Gro by 17.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 286,700 shares of the basic materials company’s stock worth $35,253,000 after purchasing an additional 41,703 shares during the period. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in shares of Scotts Miracle-Gro by 1,613.8% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,868 shares of the basic materials company’s stock worth $230,000 after purchasing an additional 1,759 shares during the period. Hedge funds and other institutional investors own 66.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. TheStreet cut Scotts Miracle-Gro from a “c” rating to a “d+” rating in a research report on Wednesday, August 3rd. Wells Fargo & Company dropped their target price on Scotts Miracle-Gro from $75.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Monday, October 3rd. Raymond James dropped their target price on Scotts Miracle-Gro from $100.00 to $56.00 and set a “strong-buy” rating on the stock in a research report on Thursday, November 3rd. JPMorgan Chase & Co. dropped their target price on Scotts Miracle-Gro from $80.00 to $45.00 and set a “neutral” rating on the stock in a research report on Thursday, November 3rd. Finally, Truist Financial lowered their price target on Scotts Miracle-Gro from $85.00 to $50.00 in a report on Thursday, November 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $58.57.

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.

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