The Scotts Miracle-Gro Company (NYSE:SMG) Receives Average Recommendation of “Hold” from Brokerages

Shares of The Scotts Miracle-Gro Company (NYSE:SMG) have received a consensus rating of “Hold” from the five brokerages that are covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $83.75.

A number of brokerages recently commented on SMG. Wells Fargo & Company increased their price target on Scotts Miracle-Gro from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Truist Financial increased their target price on Scotts Miracle-Gro from $65.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Finally, Stifel Nicolaus lifted their price target on shares of Scotts Miracle-Gro from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd.

Scotts Miracle-Gro Price Performance

NYSE:SMG opened at $89.66 on Wednesday. The firm has a 50-day moving average of $79.90 and a two-hundred day moving average of $71.99. The stock has a market cap of $5.09 billion, a P/E ratio of -18.96 and a beta of 1.76. Scotts Miracle-Gro has a 1-year low of $48.29 and a 1-year high of $91.09.

Insider Transactions at Scotts Miracle-Gro

In related news, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $70.93, for a total transaction of $6,038,270.90. Following the sale, the insider now directly owns 13,608,238 shares of the company’s stock, valued at approximately $965,232,321.34. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Scotts Miracle-Gro news, COO Nathan Eric Baxter sold 2,988 shares of Scotts Miracle-Gro stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $70.93, for a total value of $211,938.84. Following the completion of the transaction, the chief operating officer now directly owns 37,920 shares in the company, valued at $2,689,665.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $70.93, for a total value of $6,038,270.90. Following the sale, the insider now owns 13,608,238 shares in the company, valued at $965,232,321.34. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 26.46% of the company’s stock.

Institutional Investors Weigh In On Scotts Miracle-Gro

Several large investors have recently added to or reduced their stakes in SMG. Global X Japan Co. Ltd. bought a new position in shares of Scotts Miracle-Gro during the third quarter worth about $26,000. Farther Finance Advisors LLC boosted its stake in Scotts Miracle-Gro by 427.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 332 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 269 shares during the period. Blue Trust Inc. grew its position in Scotts Miracle-Gro by 83.6% in the 3rd quarter. Blue Trust Inc. now owns 369 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 168 shares during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Scotts Miracle-Gro in the second quarter valued at approximately $25,000. Finally, Versant Capital Management Inc raised its holdings in shares of Scotts Miracle-Gro by 80.1% during the second quarter. Versant Capital Management Inc now owns 389 shares of the basic materials company’s stock valued at $25,000 after buying an additional 173 shares during the last quarter. 74.07% of the stock is owned by institutional investors and hedge funds.

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.