Scotts Miracle-Gro (NYSE:SMG) Director Sells $3,569,011.66 in Stock

Key Points

• Hagedorn Partnership, L.P. sold 56,633 shares of Scotts Miracle-Gro stock at an average price of $63.02, totaling approximately $3.57 million, resulting in a 0.43% decrease in their ownership position.
• Scotts Miracle-Gro recently declared a $0.66 quarterly dividend, representing a 4.2% dividend yield, with a payout ratio of 347.37%.
• Despite a recent drop in stock price to $62.42, the company reported earnings of $2.59 per share, surpassing analysts' expectations, but with revenue slightly down by 1.2% year-over-year.

The Scotts Miracle-Gro Company (NYSE:SMG - Get Free Report) Director Hagedorn Partnership, L.P. sold 56,633 shares of the firm's stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $63.02, for a total value of $3,569,011.66. Following the completion of the transaction, the director owned 13,217,641 shares of the company's stock, valued at approximately $832,975,735.82. This represents a 0.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Hagedorn Partnership, L.P. also recently made the following trade(s):

• On Monday, August 4th, Hagedorn Partnership, L.P. sold 70,000 shares of Scotts Miracle-Gro stock. The shares were sold at an average price of $62.28, for a total value of $4,359,600.00.

Scotts Miracle-Gro Price Performance

SMG stock traded down $0.93 during mid-day trading on Friday, reaching $60.78. The company had a trading volume of 355,529 shares, compared to its average volume of 697,062. The stock has a 50 day simple moving average of $63.92 and a two-hundred day simple moving average of $60.35. The company has a market capitalization of $3.51 billion, a price-to-earnings ratio of 79.97 and a beta of 1.98. The Scotts Miracle-Gro Company has a 52 week low of $45.61 and a 52 week high of $93.90.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The basic materials company reported $2.59 earnings per share for the quarter, beating analysts' consensus estimates of $2.19 by $0.40. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.23 billion. Scotts Miracle-Gro had a negative return on equity of 60.46% and a net margin of 1.54%.The business's revenue was down 1.2% compared to the same quarter last year. During the same period last year, the company earned $2.31 earnings per share. Scotts Miracle-Gro has set its FY 2025 guidance at 3.500- EPS. On average, equities analysts predict that The Scotts Miracle-Gro Company will post 3.42 EPS for the current year.

Scotts Miracle-Gro Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 22nd were paid a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date was Friday, August 22nd. Scotts Miracle-Gro's dividend payout ratio (DPR) is currently 347.37%.

Analysts Set New Price Targets

A number of research firms have weighed in on SMG. Stifel Nicolaus decreased their price target on Scotts Miracle-Gro from $71.00 to $70.00 and set a "hold" rating for the company in a research note on Monday, August 4th. Truist Financial set a $80.00 target price on Scotts Miracle-Gro and gave the stock a "buy" rating in a research note on Monday, July 14th. Wall Street Zen upgraded Scotts Miracle-Gro from a "hold" rating to a "buy" rating in a research note on Saturday. Zacks Research upgraded Scotts Miracle-Gro from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 21st. Finally, Wells Fargo & Company lifted their target price on Scotts Miracle-Gro from $72.00 to $75.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $71.17.

Institutional Trading of Scotts Miracle-Gro

Several institutional investors have recently added to or reduced their stakes in SMG. Voya Investment Management LLC boosted its stake in Scotts Miracle-Gro by 15.9% in the 4th quarter. Voya Investment Management LLC now owns 6,402 shares of the basic materials company's stock valued at $425,000 after purchasing an additional 876 shares during the period. Ameriprise Financial Inc. boosted its stake in Scotts Miracle-Gro by 0.5% in the 4th quarter. Ameriprise Financial Inc. now owns 86,929 shares of the basic materials company's stock valued at $5,767,000 after purchasing an additional 415 shares during the period. Cubist Systematic Strategies LLC bought a new stake in Scotts Miracle-Gro in the 4th quarter valued at $2,553,000. Deutsche Bank AG boosted its stake in Scotts Miracle-Gro by 4,242.3% in the 4th quarter. Deutsche Bank AG now owns 133,570 shares of the basic materials company's stock valued at $8,861,000 after purchasing an additional 130,494 shares during the period. Finally, Ethic Inc. bought a new stake in shares of Scotts Miracle-Gro during the 4th quarter valued at $535,000. 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.