Hagedorn Partnership, L.P. Sells 56,633 Shares of Scotts Miracle-Gro (NYSE:SMG) Stock

The Scotts Miracle-Gro Company (NYSE:SMG) Director Hagedorn Partnership, L.P. sold 56,633 shares of the firm’s stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $63.02, for a total transaction of $3,569,011.66. Following the completion of the sale, the director directly owned 13,217,641 shares of the company’s stock, valued at approximately $832,975,735.82. This represents a 0.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Hagedorn Partnership, L.P. also recently made the following trade(s):

• On Monday, August 4th, Hagedorn Partnership, L.P. sold 70,000 shares of Scotts Miracle-Gro stock. The shares were sold at an average price of $62.28, for a total transaction of $4,359,600.00.

Scotts Miracle-Gro Price Performance

Shares of Scotts Miracle-Gro stock opened at $60.80 on Wednesday. The firm has a market cap of $3.51 billion, a P/E ratio of 80.00 and a beta of 1.98. The firm has a 50 day simple moving average of $64.38 and a 200 day simple moving average of $60.34. The Scotts Miracle-Gro Company has a fifty-two week low of $45.61 and a fifty-two week high of $93.90.

Scotts Miracle-Gro (NYSE:SMG) last issued 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 net margin of 1.54% and a negative return on equity of 60.46%. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same quarter last year, the business posted $2.31 earnings per share. Scotts Miracle-Gro’s revenue for the quarter was down 1.2% compared to the same quarter last year. Scotts Miracle-Gro has set its FY 2025 guidance at 3.500- EPS. On average, sell-side analysts expect that The Scotts Miracle-Gro Company will post 3.42 EPS for the current year.

Scotts Miracle-Gro Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 22nd were issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend was Friday, August 22nd. Scotts Miracle-Gro’s payout ratio is currently 347.37%.

Hedge Funds Weigh In On Scotts Miracle-Gro

Several institutional investors and hedge funds have recently made changes to their positions in SMG. Voya Investment Management LLC grew its holdings in shares of Scotts Miracle-Gro by 15.9% in the 4th quarter. Voya Investment Management LLC now owns 6,402 shares of the basic materials company’s stock valued at $425,000 after buying an additional 876 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of Scotts Miracle-Gro by 0.5% in the 4th quarter. Ameriprise Financial Inc. now owns 86,929 shares of the basic materials company’s stock valued at $5,767,000 after buying an additional 415 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Scotts Miracle-Gro in the 4th quarter valued at $2,553,000. Deutsche Bank AG grew its holdings in shares of Scotts Miracle-Gro by 4,242.3% in the 4th quarter. Deutsche Bank AG now owns 133,570 shares of the basic materials company’s stock valued at $8,861,000 after buying an additional 130,494 shares during the period. Finally, Ethic Inc. acquired a new position in shares of Scotts Miracle-Gro in the 4th quarter valued at $535,000. Institutional investors and hedge funds own 74.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Wells Fargo & Company lifted their target price on shares of Scotts Miracle-Gro from $72.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, July 9th. Truist Financial set a $80.00 target price on shares of Scotts Miracle-Gro and gave the stock a “buy” rating in a report on Monday, July 14th. Stifel Nicolaus lowered their target price on shares of Scotts Miracle-Gro from $71.00 to $70.00 and set a “hold” rating for the company in a report on Monday, August 4th. Wall Street Zen lowered shares of Scotts Miracle-Gro from a “buy” rating to a “hold” rating in a report on Friday, September 5th. Finally, UBS Group set a $68.00 target price on shares of Scotts Miracle-Gro and gave the stock a “neutral” rating in a report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $71.17.

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.