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 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 completion of the sale, the insider now owns 13,553,774 shares of the company’s stock, valued at $1,028,866,984.34. The trade was a 0.21 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own at least 10% 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 shares were sold at an average price of $77.14, for a total value of $38,570.00.

Scotts Miracle-Gro Price Performance

Shares of NYSE SMG traded down $0.18 during trading hours on Monday, hitting $76.91. 818,244 shares of the company’s stock were exchanged, compared to its average volume of 814,611. The company’s 50-day moving average price is $82.64 and its 200-day moving average price is $73.21. The stock has a market capitalization of $4.42 billion, a price-to-earnings ratio of -110.70 and a beta of 1.76. The Scotts Miracle-Gro Company has a 1-year low of $53.43 and a 1-year high of $93.90.

Scotts Miracle-Gro Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders 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 annualized dividend and a yield of 3.43%. Scotts Miracle-Gro’s dividend payout ratio (DPR) is -382.61%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on SMG shares. UBS Group lowered their target price on Scotts Miracle-Gro from $90.00 to $77.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Stifel Nicolaus boosted their target price on Scotts Miracle-Gro from $75.00 to $81.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Truist Financial lowered their target price on Scotts Miracle-Gro from $90.00 to $70.00 and set a “hold” rating on the stock in a research note on Friday, November 8th. JPMorgan Chase & Co. decreased their price target on Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Finally, Wells Fargo & Company cut their price objective on Scotts Miracle-Gro from $95.00 to $85.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Scotts Miracle-Gro currently has a consensus rating of “Hold” and a consensus price target of $78.60.

Hedge Funds Weigh In On Scotts Miracle-Gro

Large investors have recently added to or reduced their stakes in the company. Scientech Research LLC acquired a new position in Scotts Miracle-Gro in the 2nd quarter valued at approximately $866,000. Retirement Systems of Alabama boosted its position in Scotts Miracle-Gro by 309.5% in the 2nd quarter. Retirement Systems of Alabama now owns 215,717 shares of the basic materials company’s stock valued at $14,035,000 after buying an additional 163,037 shares during the last quarter. Deprince Race & Zollo Inc. boosted its position in Scotts Miracle-Gro by 2.2% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 672,556 shares of the basic materials company’s stock valued at $43,756,000 after buying an additional 14,533 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Scotts Miracle-Gro by 194.2% in the 2nd quarter. AQR Capital Management LLC now owns 761,063 shares of the basic materials company’s stock valued at $49,515,000 after purchasing an additional 502,353 shares during the period. Finally, De Lisle Partners LLP acquired a new position in shares of Scotts Miracle-Gro in the 3rd quarter valued at $10,162,000. Institutional investors and hedge funds own 74.07% of the company’s stock.

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.