Park Place Capital Corp Sells 536 Shares of The Scotts Miracle-Gro Company (NYSE:SMG)

Park Place Capital Corp lessened its holdings in The Scotts Miracle-Gro Company (NYSE:SMG) by 52.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 493 shares of the basic materials company’s stock after selling 536 shares during the period. Park Place Capital Corp’s holdings in Scotts Miracle-Gro were worth $37,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of SMG. Rise Advisors LLC boosted its stake in Scotts Miracle-Gro by 135.2% during the first quarter. Rise Advisors LLC now owns 334 shares of the basic materials company’s stock worth $25,000 after buying an additional 192 shares during the period. GAMMA Investing LLC purchased a new stake in shares of Scotts Miracle-Gro during the fourth quarter valued at $29,000. Frazier Financial Advisors LLC purchased a new stake in shares of Scotts Miracle-Gro during the fourth quarter valued at $36,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Scotts Miracle-Gro during the fourth quarter valued at $47,000. Finally, Principal Securities Inc. purchased a new stake in shares of Scotts Miracle-Gro during the fourth quarter valued at $76,000. Institutional investors own 74.07% of the company’s stock.

Insider Activity

In other news, Director Hagedorn Partnership, L.P. sold 31,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $69.67, for a total transaction of $2,159,770.00. Following the transaction, the director now owns 13,746,012 shares in the company, valued at approximately $957,684,656.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 26.46% of the company’s stock.

Scotts Miracle-Gro Trading Down 2.4 %

Shares of NYSE SMG opened at $63.49 on Tuesday. The business’s 50 day moving average price is $67.23 and its 200 day moving average price is $65.09. The Scotts Miracle-Gro Company has a 52 week low of $43.67 and a 52 week high of $77.95.

Scotts Miracle-Gro (NYSE:SMG) last issued its earnings results on Wednesday, May 1st. The basic materials company reported $3.69 EPS for the quarter, beating analysts’ consensus estimates of $3.33 by $0.36. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.50 billion. Scotts Miracle-Gro had a negative return on equity of 20.97% and a negative net margin of 10.14%. Scotts Miracle-Gro’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.78 earnings per share. On average, sell-side analysts expect that The Scotts Miracle-Gro Company will post 2.56 EPS for the current fiscal year.

Scotts Miracle-Gro Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 24th were given a $0.66 dividend. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $2.64 annualized dividend and a yield of 4.16%. Scotts Miracle-Gro’s dividend payout ratio is presently -42.31%.

Analysts Set New Price Targets

Several analysts recently weighed in on SMG shares. StockNews.com upgraded Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a report on Thursday, April 4th. Wells Fargo & Company reduced their target price on shares of Scotts Miracle-Gro from $85.00 to $83.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Truist Financial downgraded shares of Scotts Miracle-Gro from a “buy” rating to a “hold” rating and boosted their target price for the stock from $65.00 to $75.00 in a report on Friday, April 5th. Raymond James reiterated a “market perform” rating on shares of Scotts Miracle-Gro in a report on Monday, March 25th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Scotts Miracle-Gro from $70.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, April 5th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $73.00.

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.