Insider Selling: The Scotts Miracle-Gro Company (NYSE:SMG) Director Sells 12,123 Shares of Stock

The Scotts Miracle-Gro Company (NYSE:SMG) Director Hagedorn Partnership, L.P. sold 12,123 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $66.86, for a total value of $810,543.78. Following the completion of the transaction, the director now owns 13,432,151 shares of the company’s stock, valued at approximately $898,073,615.86. This represents a 0.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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 value of $38,570.00.
• On Wednesday, November 27th, Hagedorn Partnership, L.P. sold 28,000 shares of Scotts Miracle-Gro stock. The stock was sold at an average price of $75.91, for a total value of $2,125,480.00.

Scotts Miracle-Gro Trading Up 1.7 %

SMG stock opened at $67.58 on Wednesday. The firm has a market cap of $3.88 billion, a P/E ratio of -140.79 and a beta of 1.74. The Scotts Miracle-Gro Company has a 12-month low of $54.74 and a 12-month high of $93.90. The stock’s 50 day simple moving average is $70.01 and its 200 day simple moving average is $74.78.

Scotts Miracle-Gro (NYSE:SMG) last posted its earnings results on Wednesday, January 29th. The basic materials company reported ($0.89) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.23) by $0.34. Scotts Miracle-Gro had a negative return on equity of 51.48% and a negative net margin of 0.67%. During the same period in the previous year, the business earned ($1.45) EPS. On average, research analysts forecast that The Scotts Miracle-Gro Company will post 3.4 EPS for the current fiscal year.

Scotts Miracle-Gro Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be paid a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date of this dividend is Friday, February 21st. Scotts Miracle-Gro’s payout ratio is -549.99%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SMG. Jefferies Financial Group began coverage on Scotts Miracle-Gro in a research report on Monday, December 9th. They issued a “hold” rating and a $72.00 target price on the stock. UBS Group cut their target price on Scotts Miracle-Gro from $77.00 to $72.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Wells Fargo & Company cut their target price on Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. JPMorgan Chase & Co. dropped their price target on Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Finally, Truist Financial dropped their price target on Scotts Miracle-Gro from $90.00 to $70.00 and set a “hold” rating on the stock in a research report on Friday, November 8th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $75.83.

Institutional Investors Weigh In On Scotts Miracle-Gro

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Pacer Advisors Inc. raised its stake in shares of Scotts Miracle-Gro by 5.0% during the third quarter. Pacer Advisors Inc. now owns 3,172,800 shares of the basic materials company’s stock valued at $275,082,000 after purchasing an additional 151,354 shares in the last quarter. State Street Corp raised its stake in shares of Scotts Miracle-Gro by 1.1% during the third quarter. State Street Corp now owns 1,432,565 shares of the basic materials company’s stock valued at $124,203,000 after purchasing an additional 15,869 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Scotts Miracle-Gro by 2.1% during the third quarter. Geode Capital Management LLC now owns 708,558 shares of the basic materials company’s stock valued at $61,448,000 after purchasing an additional 14,730 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Scotts Miracle-Gro during the fourth quarter valued at about $39,986,000. Finally, Jacobs Levy Equity Management Inc. grew its holdings in Scotts Miracle-Gro by 1,033.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 364,045 shares of the basic materials company’s stock worth $31,563,000 after acquiring an additional 331,925 shares during the period. 74.07% of the stock is currently owned by institutional investors.

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.