Scotts Miracle-Gro (NYSE:SMG – Get Free Report) had its target price decreased by equities researchers at Wells Fargo & Company from $85.00 to $80.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the basic materials company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 18.87% from the company’s current price.
SMG has been the topic of a number of other reports. JPMorgan Chase & Co. reduced their price target on shares of Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. UBS Group reduced their target price on Scotts Miracle-Gro from $90.00 to $77.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Jefferies Financial Group began coverage on Scotts Miracle-Gro in a report on Monday, December 9th. They set a “hold” rating and a $72.00 price target for the company. Stifel Nicolaus upped their price objective on Scotts Miracle-Gro from $75.00 to $81.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Finally, Truist Financial cut their target price 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 equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Scotts Miracle-Gro has an average rating of “Hold” and an average target price of $76.67.
Check Out Our Latest Report on SMG
Scotts Miracle-Gro Price Performance
Insiders Place Their Bets
In other Scotts Miracle-Gro news, major shareholder Hagedorn Partnership, L.P. sold 500 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $77.14, for a total transaction of $38,570.00. Following the completion of the transaction, the insider now owns 13,553,274 shares in the company, valued at $1,045,499,556.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Nathan Eric Baxter sold 11,359 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $75.37, for a total value of $856,127.83. Following the transaction, the chief operating officer now owns 51,631 shares of the company’s stock, valued at approximately $3,891,428.47. The trade was a 18.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 58,227 shares of company stock valued at $4,410,268 over the last three months. 25.37% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC grew its stake in Scotts Miracle-Gro by 194.2% in the 2nd quarter. AQR Capital Management LLC now owns 761,063 shares of the basic materials company’s stock worth $49,515,000 after acquiring an additional 502,353 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Scotts Miracle-Gro by 1,033.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 364,045 shares of the basic materials company’s stock valued at $31,563,000 after purchasing an additional 331,925 shares during the period. International Assets Investment Management LLC grew its stake in Scotts Miracle-Gro by 8,330.2% in the third quarter. International Assets Investment Management LLC now owns 281,485 shares of the basic materials company’s stock worth $24,405,000 after purchasing an additional 278,146 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Scotts Miracle-Gro by 228.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 252,798 shares of the basic materials company’s stock worth $21,918,000 after purchasing an additional 175,719 shares during the period. Finally, Pacer Advisors Inc. raised its position in Scotts Miracle-Gro by 5.0% during the 3rd quarter. Pacer Advisors Inc. now owns 3,172,800 shares of the basic materials company’s stock valued at $275,082,000 after purchasing an additional 151,354 shares in the last quarter. Hedge funds and other institutional investors own 74.07% of the company’s stock.
Scotts Miracle-Gro Company 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.
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