Scotts Miracle-Gro (NYSE:SMG) Price Target Lowered to $80.00 at Wells Fargo & Company

Scotts Miracle-Gro (NYSE:SMG) had its price target decreased by stock analysts at Wells Fargo & Company from $85.00 to $80.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the basic materials company’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 19.17% from the company’s previous close.

A number of other brokerages have also weighed in on SMG. JPMorgan Chase & Co. lowered their price objective on shares of Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. 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 research report on Friday, November 8th. Jefferies Financial Group started coverage on Scotts Miracle-Gro in a report on Monday, December 9th. They issued a “hold” rating and a $72.00 price objective on the stock. UBS Group dropped their target price on Scotts Miracle-Gro from $90.00 to $77.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Finally, Stifel Nicolaus lifted their price target on Scotts Miracle-Gro from $75.00 to $81.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Six equities 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, Scotts Miracle-Gro currently has a consensus rating of “Hold” and an average price target of $76.67.

Scotts Miracle-Gro Stock Down 0.3 %

Shares of Scotts Miracle-Gro stock traded down $0.17 during trading on Tuesday, hitting $67.13. 43,037 shares of the stock traded hands, compared to its average volume of 400,388. The stock has a market cap of $3.86 billion, a price-to-earnings ratio of -97.29 and a beta of 1.73. Scotts Miracle-Gro has a 52 week low of $53.43 and a 52 week high of $93.90. The firm’s fifty day moving average is $74.55 and its 200-day moving average is $73.94.

Insider Activity at Scotts Miracle-Gro

In other Scotts Miracle-Gro news, COO Nathan Eric Baxter sold 11,359 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $75.37, for a total transaction of $856,127.83. Following the transaction, the chief operating officer now owns 51,631 shares in the company, valued at approximately $3,891,428.47. This represents a 18.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 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 disclosure for this sale can be found here. Insiders sold a total of 58,227 shares of company stock worth $4,410,268 over the last quarter. 25.37% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Scientech Research LLC bought a new position in shares of Scotts Miracle-Gro during the second quarter valued at approximately $866,000. Deprince Race & Zollo Inc. raised its stake in Scotts Miracle-Gro by 2.2% during the second quarter. Deprince Race & Zollo Inc. now owns 672,556 shares of the basic materials company’s stock valued at $43,756,000 after buying an additional 14,533 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Scotts Miracle-Gro by 194.2% in the second 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. De Lisle Partners LLP purchased a new stake in shares of Scotts Miracle-Gro in the third quarter worth $10,162,000. Finally, Algert Global LLC increased its holdings in shares of Scotts Miracle-Gro by 202.2% during the third quarter. Algert Global LLC now owns 25,140 shares of the basic materials company’s stock valued at $2,180,000 after acquiring an additional 16,821 shares in the last quarter. 74.07% of the stock is currently owned by institutional investors.

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.