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

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) had its target price upped by equities researchers at Stifel Nicolaus from $75.00 to $81.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has a "hold" rating on the basic materials company's stock. Stifel Nicolaus' price objective would indicate a potential downside of 11.52% from the company's previous close.

A number of other analysts have also recently commented on the stock. Wells Fargo & Company upped their price target on shares of Scotts Miracle-Gro from $75.00 to $85.00 and gave the company an "overweight" rating in a research note on Thursday, August 1st. Truist Financial raised their target price on Scotts Miracle-Gro from $65.00 to $90.00 and gave the stock a "hold" rating in a research note on Wednesday, October 16th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $85.25.

Scotts Miracle-Gro Trading Up 2.1 %

SMG stock traded up $1.89 during midday trading on Monday, hitting $91.55. The stock had a trading volume of 849,152 shares, compared to its average volume of 789,119. The firm has a market cap of $5.20 billion, a P/E ratio of -19.36 and a beta of 1.76. Scotts Miracle-Gro has a 1-year low of $48.29 and a 1-year high of $91.70. The business has a fifty day moving average price of $79.90 and a two-hundred day moving average price of $72.02.

Insider Buying and Selling

In related news, major shareholder Hagedorn Partnership, L.P. sold 85,130 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 value of $6,038,270.90. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Scotts Miracle-Gro news, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of the business's stock in a transaction dated Wednesday, August 21st. The shares were 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 in the company, valued at $965,232,321.34. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Nathan Eric Baxter sold 2,988 shares of the stock in a transaction on Wednesday, August 21st. The shares were 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 directly owns 37,920 shares in the company, valued at $2,689,665.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 26.46% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Scotts Miracle-Gro

Several hedge funds and other institutional investors have recently bought and sold shares of SMG. BNP Paribas Financial Markets grew its position in shares of Scotts Miracle-Gro by 72.6% in the 1st quarter. BNP Paribas Financial Markets now owns 42,928 shares of the basic materials company's stock worth $3,202,000 after acquiring an additional 18,060 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of Scotts Miracle-Gro by 18.4% in the 1st quarter. Nordea Investment Management AB now owns 230,616 shares of the basic materials company's stock worth $17,218,000 after purchasing an additional 35,825 shares during the last quarter. Ontario Teachers Pension Plan Board boosted its position in shares of Scotts Miracle-Gro by 155.1% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 37,172 shares of the basic materials company's stock valued at $2,773,000 after purchasing an additional 22,599 shares during the period. Scientech Research LLC acquired a new stake in Scotts Miracle-Gro during the 2nd quarter worth about $866,000. Finally, Retirement Systems of Alabama raised its stake in shares of Scotts Miracle-Gro by 309.5% in the 2nd quarter. Retirement Systems of Alabama now owns 215,717 shares of the basic materials company's stock valued at $14,035,000 after acquiring an additional 163,037 shares in the last quarter. 74.07% of the stock is owned by institutional investors and hedge funds.

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.