Scotts Miracle-Gro (NYSE:SMG) Price Target Cut to $72.00 by Analysts at UBS Group

Scotts Miracle-Gro (NYSE:SMG) had its price objective decreased by UBS Group from $77.00 to $72.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the basic materials company’s stock. UBS Group’s price objective points to a potential upside of 1.79% from the stock’s current price.

A number of other equities research analysts have also weighed in on SMG. Stifel Nicolaus lifted their price objective on Scotts Miracle-Gro from $75.00 to $81.00 and gave the company a “hold” rating in a report on Monday, November 4th. Wells Fargo & Company decreased their price target on Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. JPMorgan Chase & Co. cut their price objective on Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. Jefferies Financial Group initiated coverage on shares of Scotts Miracle-Gro in a research note on Monday, December 9th. They set a “hold” rating and a $72.00 price target on the stock. Finally, Truist Financial cut their price target on shares of Scotts Miracle-Gro from $90.00 to $70.00 and set a “hold” rating for the company in a report on Friday, November 8th. Six 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, the company has a consensus rating of “Hold” and an average target price of $75.83.

Scotts Miracle-Gro Stock Performance

Scotts Miracle-Gro stock traded up $0.10 during trading hours on Thursday, reaching $70.74. 286,937 shares of the stock were exchanged, compared to its average volume of 484,220. The stock has a market cap of $4.06 billion, a P/E ratio of -102.52 and a beta of 1.73. The firm’s 50 day moving average is $71.81 and its 200 day moving average is $73.96. Scotts Miracle-Gro has a 52-week low of $53.43 and a 52-week high of $93.90.

Insider Buying and Selling at Scotts Miracle-Gro

In related news, CEO James Hagedorn sold 18,368 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $75.68, for a total value of $1,390,090.24. Following the completion of the transaction, the chief executive officer now owns 87,426 shares of the company’s stock, valued at approximately $6,616,399.68. The trade was a 17.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Hagedorn Partnership, L.P. sold 500 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $77.14, for a total transaction of $38,570.00. Following the sale, the insider now directly owns 13,553,274 shares in the company, valued at $1,045,499,556.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 58,227 shares of company stock valued at $4,410,268 over the last quarter. Corporate insiders own 25.37% of the company’s stock.

Hedge Funds Weigh In On Scotts Miracle-Gro

Several institutional investors and hedge funds have recently modified their holdings of SMG. Ameritas Advisory Services LLC increased its stake in Scotts Miracle-Gro by 7.9% in the fourth quarter. Ameritas Advisory Services LLC now owns 15,704 shares of the basic materials company’s stock valued at $1,042,000 after purchasing an additional 1,155 shares during the last quarter. Park Avenue Securities LLC increased its position in Scotts Miracle-Gro by 28.0% during the fourth quarter. Park Avenue Securities LLC now owns 8,839 shares of the basic materials company’s stock worth $586,000 after purchasing an additional 1,934 shares during the last quarter. Nordea Investment Management AB raised its stake in Scotts Miracle-Gro by 4.6% during the fourth quarter. Nordea Investment Management AB now owns 219,532 shares of the basic materials company’s stock worth $14,439,000 after purchasing an additional 9,684 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Scotts Miracle-Gro by 112.8% in the 4th quarter. GAMMA Investing LLC now owns 1,226 shares of the basic materials company’s stock valued at $81,000 after purchasing an additional 650 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Scotts Miracle-Gro by 13.9% during the 3rd quarter. Franklin Resources Inc. now owns 58,918 shares of the basic materials company’s stock valued at $5,171,000 after buying an additional 7,206 shares during the period. Hedge funds and other institutional investors own 74.07% of the company’s stock.

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.