Hagedorn Partnership, L.P. Sells 56,633 Shares of Scotts Miracle-Gro (NYSE:SMG) 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 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 sale, the director directly owned 13,217,641 shares of the company's stock, valued at $832,975,735.82. This represents a 0.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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 transaction of $4,359,600.00.

Scotts Miracle-Gro Trading Down 1.0%

SMG stock traded down $0.62 during mid-day trading on Monday, hitting $62.42. 635,028 shares of the company were exchanged, compared to its average volume of 719,364. The Scotts Miracle-Gro Company has a 1-year low of $45.61 and a 1-year high of $93.90. The business has a 50 day simple moving average of $64.58 and a 200-day simple moving average of $60.32. The stock has a market capitalization of $3.60 billion, a PE ratio of 18.71 and a beta of 1.98.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last released its 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 company's revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.31 EPS. Scotts Miracle-Gro has set its FY 2025 guidance at 3.500- EPS. Equities research analysts expect that The Scotts Miracle-Gro Company will post 3.42 earnings per share for the current year.

Scotts Miracle-Gro Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 22nd were paid a $0.66 dividend. The ex-dividend date was Friday, August 22nd. This represents a $2.64 annualized dividend and a dividend yield of 4.2%. Scotts Miracle-Gro's dividend payout ratio (DPR) is presently 347.37%.

Institutional Trading of Scotts Miracle-Gro

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. grew its holdings in Scotts Miracle-Gro by 54.1% during the second quarter. Osaic Holdings Inc. now owns 9,775 shares of the basic materials company's stock worth $645,000 after buying an additional 3,430 shares in the last quarter. Orion Porfolio Solutions LLC bought a new stake in shares of Scotts Miracle-Gro in the 2nd quarter worth $1,395,000. Thrivent Financial for Lutherans grew its stake in shares of Scotts Miracle-Gro by 215.2% in the 2nd quarter. Thrivent Financial for Lutherans now owns 31,853 shares of the basic materials company's stock worth $2,101,000 after acquiring an additional 21,747 shares in the last quarter. Monarch Capital Management Inc. raised its holdings in shares of Scotts Miracle-Gro by 6.2% in the second quarter. Monarch Capital Management Inc. now owns 21,752 shares of the basic materials company's stock valued at $1,435,000 after purchasing an additional 1,269 shares during the last quarter. Finally, State of Wyoming bought a new position in shares of Scotts Miracle-Gro during the second quarter valued at about $216,000. 74.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SMG. Zacks Research upgraded Scotts Miracle-Gro from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 21st. UBS Group set a $68.00 target price on shares of Scotts Miracle-Gro and gave the stock a "neutral" rating in a report on Thursday, July 31st. Stifel Nicolaus reduced their price target on shares of Scotts Miracle-Gro from $71.00 to $70.00 and set a "hold" rating on the stock in a research note on Monday, August 4th. Truist Financial set a $80.00 price objective on shares of Scotts Miracle-Gro and gave the stock a "buy" rating in a research report on Monday, July 14th. Finally, Wells Fargo & Company raised their target price on shares of Scotts Miracle-Gro from $72.00 to $75.00 and gave the company an "overweight" rating in a research report on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Scotts Miracle-Gro currently has a consensus rating of "Moderate Buy" and an average price target of $71.17.

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.

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