Scotts Miracle-Gro (NYSE:SMG) Price Target Raised to $81.00

Scotts Miracle-Gro (NYSE:SMG) had its target price upped by Stifel Nicolaus from $75.00 to $81.00 in a research note issued on Monday, Benzinga reports. The firm currently has a “hold” rating on the basic materials company’s stock. Stifel Nicolaus’ price objective would indicate a potential downside of 13.39% from the stock’s previous close.

SMG has been the topic of a number of other reports. Wells Fargo & Company boosted 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 boosted 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. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $85.25.

Scotts Miracle-Gro Stock Up 2.2 %

Shares of NYSE:SMG opened at $93.52 on Monday. The firm has a market cap of $5.31 billion, a price-to-earnings ratio of -19.77 and a beta of 1.76. Scotts Miracle-Gro has a 12 month low of $48.29 and a 12 month high of $93.90. The company’s fifty day simple moving average is $80.28 and its 200 day simple moving average is $72.19.

Insider Buying and Selling at Scotts Miracle-Gro

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Versant Capital Management Inc lifted its holdings in Scotts Miracle-Gro by 80.1% during the 2nd quarter. Versant Capital Management Inc now owns 389 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 173 shares during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Scotts Miracle-Gro during the 2nd quarter worth about $25,000. Global X Japan Co. Ltd. bought a new stake in shares of Scotts Miracle-Gro during the 3rd quarter worth about $26,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Scotts Miracle-Gro in the 2nd quarter valued at about $29,000. Finally, Farther Finance Advisors LLC raised its holdings in Scotts Miracle-Gro by 427.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 332 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 269 shares during the period. 74.07% of the stock is currently owned by 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.