Insider Selling: The Scotts Miracle-Gro Company (NYSE:SMG) Major Shareholder Sells $38,570.00 in Stock

The Scotts Miracle-Gro Company (NYSE:SMG) major shareholder Hagedorn Partnership, L.P. sold 500 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $77.14, for a total transaction of $38,570.00. Following the completion of the transaction, the insider now owns 13,553,274 shares in the company, valued at $1,045,499,556.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, November 27th, Hagedorn Partnership, L.P. sold 28,000 shares of Scotts Miracle-Gro stock. The shares were sold at an average price of $75.91, for a total transaction of $2,125,480.00.

Scotts Miracle-Gro Stock Performance

Shares of NYSE:SMG opened at $76.91 on Tuesday. The Scotts Miracle-Gro Company has a 52-week low of $53.43 and a 52-week high of $93.90. The firm has a market capitalization of $4.42 billion, a P/E ratio of -110.70 and a beta of 1.76. The stock has a 50 day moving average price of $82.64 and a 200-day moving average price of $73.21.

Scotts Miracle-Gro Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date of this dividend is Friday, November 22nd. Scotts Miracle-Gro’s dividend payout ratio (DPR) is presently -382.61%.

Analysts Set New Price Targets

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

Institutional Trading of Scotts Miracle-Gro

Hedge funds and other institutional investors have recently modified their holdings of the business. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Scotts Miracle-Gro by 1.0% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,201,683 shares of the basic materials company’s stock worth $338,421,000 after acquiring an additional 49,262 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Scotts Miracle-Gro by 5.0% during the third quarter. Pacer Advisors Inc. now owns 3,172,800 shares of the basic materials company’s stock valued at $275,082,000 after purchasing an additional 151,354 shares during the last quarter. Earnest Partners LLC boosted its position in shares of Scotts Miracle-Gro by 1.4% in the 2nd quarter. Earnest Partners LLC now owns 3,155,653 shares of the basic materials company’s stock worth $205,307,000 after purchasing an additional 42,500 shares in the last quarter. State Street Corp grew its stake in shares of Scotts Miracle-Gro by 1.1% in the 3rd quarter. State Street Corp now owns 1,432,565 shares of the basic materials company’s stock worth $124,203,000 after buying an additional 15,869 shares during the last quarter. Finally, Millennium Management LLC increased its position in Scotts Miracle-Gro by 6.8% during the 2nd quarter. Millennium Management LLC now owns 815,371 shares of the basic materials company’s stock valued at $53,048,000 after buying an additional 52,136 shares in the last quarter. 74.07% of the stock is owned by hedge funds and other institutional investors.

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.