Everpar Advisors LLC Trims Stock Holdings in The Scotts Miracle-Gro Company (NYSE:SMG)

Everpar Advisors LLC lowered its position in The Scotts Miracle-Gro Company (NYSE:SMG) by 16.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,892 shares of the basic materials company’s stock after selling 967 shares during the quarter. Everpar Advisors LLC’s holdings in Scotts Miracle-Gro were worth $269,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Greenwood Capital Associates LLC lifted its stake in Scotts Miracle-Gro by 14.0% in the first quarter. Greenwood Capital Associates LLC now owns 17,956 shares of the basic materials company’s stock valued at $986,000 after buying an additional 2,209 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Scotts Miracle-Gro in the first quarter valued at approximately $1,011,000. GAMMA Investing LLC lifted its stake in Scotts Miracle-Gro by 31.6% in the first quarter. GAMMA Investing LLC now owns 1,614 shares of the basic materials company’s stock valued at $89,000 after buying an additional 388 shares during the last quarter. Wedge Capital Management L L P NC lifted its stake in Scotts Miracle-Gro by 6.5% in the first quarter. Wedge Capital Management L L P NC now owns 57,590 shares of the basic materials company’s stock valued at $3,161,000 after buying an additional 3,512 shares during the last quarter. Finally, UMB Bank n.a. lifted its stake in Scotts Miracle-Gro by 479.4% in the first quarter. UMB Bank n.a. now owns 562 shares of the basic materials company’s stock valued at $31,000 after buying an additional 465 shares during the last quarter. Hedge funds and other institutional investors own 74.07% of the company’s stock.

Scotts Miracle-Gro Price Performance

Shares of SMG stock opened at $61.13 on Friday. The business’s fifty day moving average price is $56.91 and its 200 day moving average price is $62.71. The Scotts Miracle-Gro Company has a 1-year low of $45.61 and a 1-year high of $93.90. The firm has a market capitalization of $3.53 billion, a PE ratio of -127.35 and a beta of 1.99.

Scotts Miracle-Gro (NYSE:SMG) last announced its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $3.98 earnings per share for the quarter, topping analysts’ consensus estimates of $3.95 by $0.03. Scotts Miracle-Gro had a negative return on equity of 51.48% and a negative net margin of 0.67%. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the company posted $3.69 earnings per share. Scotts Miracle-Gro’s quarterly revenue was down 6.8% on a year-over-year basis. Equities research analysts expect that The Scotts Miracle-Gro Company will post 3.42 earnings per share for the current fiscal year.

Scotts Miracle-Gro Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 23rd were issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date was Friday, May 23rd. Scotts Miracle-Gro’s dividend payout ratio is presently 528.00%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Wells Fargo & Company upped their price target on Scotts Miracle-Gro from $67.00 to $72.00 and gave the stock an “overweight” rating in a research note on Friday, June 6th. Truist Financial upped their price target on Scotts Miracle-Gro from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, June 6th. UBS Group cut their price target on Scotts Miracle-Gro from $55.00 to $54.00 and set a “neutral” rating for the company in a research note on Thursday, May 1st. Jefferies Financial Group upgraded Scotts Miracle-Gro from a “hold” rating to a “buy” rating and cut their price target for the stock from $72.00 to $69.00 in a research note on Monday, April 7th. Finally, JPMorgan Chase & Co. cut their price target on Scotts Miracle-Gro from $80.00 to $65.00 and set an “overweight” rating for the company in a research note on Thursday, May 1st. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Scotts Miracle-Gro presently has a consensus rating of “Moderate Buy” and an average price target of $67.67.

Scotts Miracle-Gro 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.