Hagedorn Partnership, L.P. Sells 28,000 Shares of The Scotts Miracle-Gro Company (NYSE:SMG) Stock

The Scotts Miracle-Gro Company (NYSE:SMG) major shareholder Hagedorn Partnership, L.P. sold 28,000 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $75.91, for a total transaction of $2,125,480.00. Following the completion of the transaction, the insider now directly owns 13,553,774 shares in the company, valued at approximately $1,028,866,984.34. This represents a 0.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more 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 Monday, December 2nd, Hagedorn Partnership, L.P. sold 500 shares of Scotts Miracle-Gro stock. The stock was sold at an average price of $77.14, for a total transaction of $38,570.00.

Scotts Miracle-Gro Stock Down 0.2 %

Shares of SMG opened at $76.91 on Tuesday. The stock has a market cap of $4.42 billion, a PE ratio of -110.70 and a beta of 1.76. The Scotts Miracle-Gro Company has a 12-month low of $53.43 and a 12-month 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.

Scotts Miracle-Gro Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be issued a $0.66 dividend. The ex-dividend date is Friday, November 22nd. This represents a $2.64 dividend on an annualized basis and a yield of 3.43%. Scotts Miracle-Gro’s dividend payout ratio (DPR) is presently -382.61%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Truist Financial cut their target price on Scotts Miracle-Gro from $90.00 to $70.00 and set a “hold” rating for the company in a research note on Friday, November 8th. Wells Fargo & Company reduced their price objective on 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. Stifel Nicolaus lifted their target price on Scotts Miracle-Gro from $75.00 to $81.00 and gave the company a “hold” rating in a research report on Monday, November 4th. UBS Group dropped their target price on shares of Scotts Miracle-Gro from $90.00 to $77.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Scotts Miracle-Gro presently has an average rating of “Hold” and a consensus target price of $78.60.

Institutional Investors Weigh In On Scotts Miracle-Gro

Several hedge funds have recently added to or reduced their stakes in the business. Versant Capital Management Inc increased its position in 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 during the period. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Scotts Miracle-Gro in the second quarter worth $25,000. Global X Japan Co. Ltd. bought a new stake in shares of Scotts Miracle-Gro in the third quarter worth $26,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Scotts Miracle-Gro in the second quarter valued at $29,000. Finally, Farther Finance Advisors LLC raised its position in Scotts Miracle-Gro by 427.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 332 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 269 shares during the last quarter. 74.07% of the stock is currently owned by institutional investors and hedge funds.

About Scotts Miracle-Gro

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.