Scotts Miracle-Gro (NYSE:SMG) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Scotts Miracle-Gro (NYSE:SMG) had its price objective upped by Stifel Nicolaus from $75.00 to $81.00 in a research note released on Monday, Benzinga reports. The firm currently has a hold rating on the basic materials company’s stock.

SMG has been the topic of several other reports. Truist Financial raised their price objective on Scotts Miracle-Gro from $65.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Wells Fargo & Company boosted their target price on shares of Scotts Miracle-Gro from $75.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Scotts Miracle-Gro presently has an average rating of “Hold” and a consensus target price of $85.25.

Scotts Miracle-Gro Trading Up 0.0 %

Shares of SMG stock traded up $0.02 on Monday, hitting $91.57. The company’s stock had a trading volume of 18,567 shares, compared to its average volume of 785,519. The stock’s 50 day moving average is $79.90 and its 200-day moving average is $72.02. Scotts Miracle-Gro has a fifty-two week low of $48.29 and a fifty-two week high of $91.70.

Insider Transactions at Scotts Miracle-Gro

In related news, COO Nathan Eric Baxter sold 2,988 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $70.93, for a total value of $211,938.84. Following the sale, the chief operating officer now directly owns 37,920 shares in the company, valued at $2,689,665.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $70.93, for a total value of $6,038,270.90. Following 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Nathan Eric Baxter sold 2,988 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $70.93, for a total value of $211,938.84. Following the sale, the chief operating officer now owns 37,920 shares of the company’s stock, valued at approximately $2,689,665.60. The trade was 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 owned by corporate insiders.

Institutional Investors Weigh In On Scotts Miracle-Gro

Several institutional investors and hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets boosted its stake in Scotts Miracle-Gro by 72.6% during the first 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 Scotts Miracle-Gro by 18.4% in the first quarter. Nordea Investment Management AB now owns 230,616 shares of the basic materials company’s stock valued at $17,218,000 after acquiring an additional 35,825 shares during the period. Ontario Teachers Pension Plan Board lifted its stake in shares of Scotts Miracle-Gro by 155.1% in the first quarter. Ontario Teachers Pension Plan Board now owns 37,172 shares of the basic materials company’s stock valued at $2,773,000 after buying an additional 22,599 shares in the last quarter. Scientech Research LLC acquired a new position in Scotts Miracle-Gro during the 2nd quarter valued at about $866,000. Finally, Retirement Systems of Alabama lifted its holdings in Scotts Miracle-Gro by 309.5% during the second quarter. Retirement Systems of Alabama now owns 215,717 shares of the basic materials company’s stock worth $14,035,000 after acquiring an additional 163,037 shares during the period. 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.