Scotts Miracle-Gro (NYSE:SMG) Director Hagedorn Partnership, L.P. Sells 30,000 Shares

The Scotts Miracle-Gro Company (NYSE:SMG) Director Hagedorn Partnership, L.P. sold 30,000 shares of Scotts Miracle-Gro stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $67.45, for a total value of $2,023,500.00. Following the completion of the sale, the director directly owned 13,137,641 shares in the company, valued at $886,133,885.45. This represents a 0.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Scotts Miracle-Gro Stock Performance

NYSE SMG opened at $65.67 on Thursday. The business has a fifty day moving average price of $65.26 and a 200 day moving average price of $64.36. The Scotts Miracle-Gro Company has a one year low of $52.00 and a one year high of $75.34. The company has a market cap of $3.82 billion, a P/E ratio of 57.10 and a beta of 1.82.

Scotts Miracle-Gro (NYSE:SMG) last announced its earnings results on Wednesday, July 29th. The basic materials company reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.34. Scotts Miracle-Gro had a net margin of 2.19% and a negative return on equity of 81.90%. The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the previous year, the company posted $2.59 EPS. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. As a group, sell-side analysts predict that The Scotts Miracle-Gro Company will post 4.39 EPS for the current fiscal year.

Scotts Miracle-Gro Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Friday, August 21st will be paid a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Friday, August 21st. Scotts Miracle-Gro’s dividend payout ratio (DPR) is currently 229.57%.

Institutional Investors Weigh In On Scotts Miracle-Gro

Several hedge funds and other institutional investors have recently bought and sold shares of SMG. Kestrel Investment Management Corp acquired a new stake in shares of Scotts Miracle-Gro during the 1st quarter worth about $2,390,000. Sound Income Strategies LLC lifted its position in Scotts Miracle-Gro by 46.6% in the fourth quarter. Sound Income Strategies LLC now owns 230,966 shares of the basic materials company’s stock valued at $14,692,000 after buying an additional 73,455 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Scotts Miracle-Gro by 223.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,239 shares of the basic materials company’s stock valued at $1,706,000 after buying an additional 20,196 shares during the last quarter. Gamco Investors INC. ET AL boosted its stake in Scotts Miracle-Gro by 9.7% during the fourth quarter. Gamco Investors INC. ET AL now owns 387,170 shares of the basic materials company’s stock worth $22,591,000 after buying an additional 34,350 shares during the period. Finally, Fifth Third Bancorp boosted its stake in Scotts Miracle-Gro by 154.9% during the first quarter. Fifth Third Bancorp now owns 51,956 shares of the basic materials company’s stock worth $3,159,000 after buying an additional 31,570 shares during the period. 74.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SMG has been the subject of several research reports. UBS Group upped their price objective on shares of Scotts Miracle-Gro from $70.00 to $78.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. Stifel Nicolaus raised their target price on shares of Scotts Miracle-Gro from $75.00 to $76.00 and gave the stock a “buy” rating in a research note on Monday. Weiss Ratings restated a “hold (c)” rating on shares of Scotts Miracle-Gro in a report on Friday, July 31st. Wells Fargo & Company upped their price target on Scotts Miracle-Gro from $74.00 to $77.00 and gave the company an “overweight” rating in a research report on Thursday, July 30th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $79.00 price target on shares of Scotts Miracle-Gro in a report on Wednesday, April 29th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $75.40.

About Scotts Miracle-Gro

Scotts Miracle-Gro Company is a leading developer, manufacturer and distributor of consumer lawn and garden products. The firm serves both retail and professional customers through an array of branded offerings that include lawn fertilizers, grass seed, pest and disease control solutions, plant foods and specialty products for indoor and outdoor gardening. Its portfolio spans well-known names such as Scotts®, Miracle-Gro®, Ortho® and various hydroponic and specialty garden brands.

Headquartered in Marysville, Ohio, the company traces its roots to O.M.