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 stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $75.91, for a total value of $2,125,480.00. Following the transaction, the insider now owns 13,553,774 shares in the company, valued at approximately $1,028,866,984.34. This trade represents a 0.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own at least 10% of a company’s stock 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 1.5 %

Shares of SMG opened at $75.83 on Wednesday. The stock’s 50-day moving average price is $82.62 and its 200 day moving average price is $73.26. The firm has a market capitalization of $4.35 billion, a price-to-earnings ratio of -109.90 and a beta of 1.71. The Scotts Miracle-Gro Company has a 12-month low of $53.43 and a 12-month high of $93.90.

Scotts Miracle-Gro Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date of this dividend is Friday, November 22nd. Scotts Miracle-Gro’s dividend payout ratio is presently -382.61%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SMG. Truist Financial cut their target price on shares of Scotts Miracle-Gro from $90.00 to $70.00 and set a “hold” rating for the company in a research report on Friday, November 8th. JPMorgan Chase & Co. cut their price objective on Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. Wells Fargo & Company lowered their target price on Scotts Miracle-Gro from $95.00 to $85.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. UBS Group cut their price target on 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, Stifel Nicolaus raised 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. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Scotts Miracle-Gro has a consensus rating of “Hold” and a consensus target price of $78.60.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. OLD National Bancorp IN increased its holdings in Scotts Miracle-Gro by 2.7% in the 3rd quarter. OLD National Bancorp IN now owns 5,049 shares of the basic materials company’s stock valued at $438,000 after buying an additional 131 shares during the period. Nicollet Investment Management Inc. boosted its position in shares of Scotts Miracle-Gro by 1.1% during the 3rd quarter. Nicollet Investment Management Inc. now owns 12,845 shares of the basic materials company’s stock valued at $1,114,000 after acquiring an additional 135 shares in the last quarter. Hexagon Capital Partners LLC increased its stake in Scotts Miracle-Gro by 41.3% in the second quarter. Hexagon Capital Partners LLC now owns 551 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 161 shares during the period. Blue Trust Inc. increased its stake in Scotts Miracle-Gro by 83.6% in the third quarter. Blue Trust Inc. now owns 369 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 168 shares during the period. Finally, Versant Capital Management Inc raised its position in Scotts Miracle-Gro by 80.1% in the second quarter. Versant Capital Management Inc now owns 389 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 173 shares in 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.