The Scotts Miracle-Gro Company (NYSE:SMG - Get Free Report) Director Hagedorn Partnership, L.P. sold 70,000 shares of Scotts Miracle-Gro stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $62.28, for a total transaction of $4,359,600.00. Following the transaction, the director directly owned 13,274,274 shares in the company, valued at approximately $826,721,784.72. This trade represents a 0.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Scotts Miracle-Gro Trading Down 1.4%
Scotts Miracle-Gro stock traded down $0.85 during midday trading on Wednesday, hitting $60.52. The stock had a trading volume of 555,102 shares, compared to its average volume of 910,354. The business has a fifty day moving average price of $64.94 and a 200 day moving average price of $61.61. The Scotts Miracle-Gro Company has a 12 month low of $45.61 and a 12 month high of $93.90. The stock has a market cap of $3.49 billion, a P/E ratio of 79.63 and a beta of 1.97.
Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last issued 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. Scotts Miracle-Gro had a negative return on equity of 60.46% and a net margin of 1.54%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the previous year, the business earned $2.31 EPS. The business's quarterly revenue was down 1.2% on a year-over-year basis. On average, equities analysts anticipate that The Scotts Miracle-Gro Company will post 3.42 EPS for the current fiscal year.
Scotts Miracle-Gro Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 22nd will be paid a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Friday, August 22nd. Scotts Miracle-Gro's payout ratio is presently 347.37%.
Analyst Upgrades and Downgrades
Several research analysts have commented on SMG shares. JPMorgan Chase & Co. cut their price objective on Scotts Miracle-Gro from $80.00 to $65.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Wells Fargo & Company lifted their price objective on shares of Scotts Miracle-Gro from $72.00 to $75.00 and gave the company an "overweight" rating in a research note on Wednesday, July 9th. Wall Street Zen upgraded shares of Scotts Miracle-Gro from a "hold" rating to a "buy" rating in a research note on Saturday. Truist Financial set a $80.00 price target on shares of Scotts Miracle-Gro and gave the stock a "buy" rating in a research note on Monday, July 14th. Finally, UBS Group set a $68.00 price objective on shares of Scotts Miracle-Gro and gave the company a "neutral" rating in a research report on Thursday, July 31st. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $71.17.
Read Our Latest Research Report on Scotts Miracle-Gro
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of SMG. Vanguard Group Inc. raised its stake in shares of Scotts Miracle-Gro by 2.6% during the first quarter. Vanguard Group Inc. now owns 4,645,267 shares of the basic materials company's stock valued at $254,979,000 after purchasing an additional 118,729 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Scotts Miracle-Gro by 288.8% in the 1st quarter. Millennium Management LLC now owns 1,421,220 shares of the basic materials company's stock worth $78,011,000 after acquiring an additional 1,055,672 shares during the period. Point72 Asset Management L.P. bought a new position in shares of Scotts Miracle-Gro in the fourth quarter valued at approximately $53,453,000. Jacobs Levy Equity Management Inc. raised its holdings in Scotts Miracle-Gro by 72.6% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 628,414 shares of the basic materials company's stock worth $41,689,000 after purchasing an additional 264,369 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Scotts Miracle-Gro in the fourth quarter worth approximately $39,986,000. Institutional investors own 74.07% of the company's stock.
Scotts Miracle-Gro Company Profile
(
Get Free Report)
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.
Further Reading

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