Scotts Miracle-Gro (NYSE:SMG) Earns Hold Rating from Analysts at Jefferies Financial Group

Analysts at Jefferies Financial Group initiated coverage on shares of Scotts Miracle-Gro (NYSE:SMG - Get Free Report) in a report issued on Monday, Marketbeat.com reports. The brokerage set a "hold" rating and a $72.00 price target on the basic materials company's stock. Jefferies Financial Group's price objective would suggest a potential downside of 3.28% from the stock's current price.

A number of other research analysts also recently issued reports on SMG. JPMorgan Chase & Co. decreased their price target on shares of Scotts Miracle-Gro from $85.00 to $80.00 and set an "overweight" rating for the company in a research note on Thursday, November 7th. Wells Fargo & Company lowered their target price on shares of Scotts Miracle-Gro from $95.00 to $85.00 and set an "overweight" rating for the company in a research note on Thursday, November 7th. Stifel Nicolaus raised their price target on Scotts Miracle-Gro from $75.00 to $81.00 and gave the company a "hold" rating in a research note on Monday, November 4th. UBS Group lowered their price objective on Scotts Miracle-Gro from $90.00 to $77.00 and set a "neutral" rating for the company in a research report on Thursday, November 7th. Finally, Truist Financial cut their target price on Scotts Miracle-Gro from $90.00 to $70.00 and set a "hold" rating on the stock in a research 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. According to data from MarketBeat, Scotts Miracle-Gro presently has an average rating of "Hold" and a consensus target price of $77.50.

Scotts Miracle-Gro Stock Down 1.4 %

NYSE:SMG traded down $1.03 on Monday, reaching $74.44. 937,644 shares of the company's stock were exchanged, compared to its average volume of 812,989. The business has a fifty day moving average of $82.05 and a 200-day moving average of $73.48. Scotts Miracle-Gro has a 52-week low of $53.43 and a 52-week high of $93.90. The firm has a market capitalization of $4.27 billion, a price-to-earnings ratio of -109.38 and a beta of 1.71.

Insiders Place Their Bets

In other 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 shares were sold at an average price of $77.14, for a total value of $38,570.00. Following the completion of the transaction, the insider now owns 13,553,274 shares of the company's stock, valued at $1,045,499,556.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO James Hagedorn sold 18,368 shares of the firm's stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $75.68, for a total transaction of $1,390,090.24. Following the sale, the chief executive officer now owns 87,426 shares in the company, valued at approximately $6,616,399.68. This trade represents a 17.36 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,868 shares of company stock worth $3,554,140. Insiders own 26.46% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Whittier Trust Co. of Nevada Inc. acquired a new position in Scotts Miracle-Gro in the second quarter valued at $25,000. Global X Japan Co. Ltd. purchased a new position in shares of Scotts Miracle-Gro in the 3rd quarter worth about $26,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Scotts Miracle-Gro in the 2nd quarter valued at about $29,000. Farther Finance Advisors LLC raised its stake in shares of 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. Finally, Blue Trust Inc. lifted its holdings in shares of Scotts Miracle-Gro by 83.6% during the 3rd quarter. Blue Trust Inc. now owns 369 shares of the basic materials company's stock valued at $32,000 after acquiring an additional 168 shares in the last quarter. Institutional investors and hedge funds 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.