UBS Group Cuts Scotts Miracle-Gro (NYSE:SMG) Price Target to $72.00

Scotts Miracle-Gro (NYSE:SMG) had its price objective dropped by stock analysts at UBS Group from $77.00 to $72.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the basic materials company’s stock. UBS Group’s price objective suggests a potential upside of 1.79% from the stock’s previous close.

SMG has been the subject of a number of other reports. Jefferies Financial Group initiated coverage on Scotts Miracle-Gro in a research note on Monday, December 9th. They issued a “hold” rating and a $72.00 target price for the company. Stifel Nicolaus lifted their price target on shares of Scotts Miracle-Gro from $75.00 to $81.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Truist Financial cut their target price on Scotts Miracle-Gro from $90.00 to $70.00 and set a “hold” rating for the company in a research note on Friday, November 8th. JPMorgan Chase & Co. decreased their price target on Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Finally, Wells Fargo & Company cut their price objective on Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Scotts Miracle-Gro has an average rating of “Hold” and a consensus price target of $75.83.

Scotts Miracle-Gro Stock Performance

Shares of SMG stock traded up $0.10 during trading hours on Thursday, reaching $70.74. The company had a trading volume of 286,937 shares, compared to its average volume of 484,220. Scotts Miracle-Gro has a 12-month low of $53.43 and a 12-month high of $93.90. The company has a market capitalization of $4.06 billion, a price-to-earnings ratio of -102.52 and a beta of 1.73. The stock has a fifty day moving average of $71.81 and a 200-day moving average of $73.96.

Insiders Place Their Bets

In other Scotts Miracle-Gro news, CEO James Hagedorn sold 18,368 shares of the 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 transaction, the chief executive officer now directly owns 87,426 shares in the company, valued at $6,616,399.68. This represents a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 sale, the insider now owns 13,553,274 shares of the company’s stock, valued at $1,045,499,556.36. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 58,227 shares of company stock worth $4,410,268 in the last quarter. 25.37% of the stock is owned by company insiders.

Hedge Funds Weigh In On Scotts Miracle-Gro

Large investors have recently bought and sold shares of the stock. Global X Japan Co. Ltd. acquired a new stake in shares of Scotts Miracle-Gro in the third quarter valued at approximately $26,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Scotts Miracle-Gro during the 2nd quarter worth $29,000. Farther Finance Advisors LLC grew its position in Scotts Miracle-Gro by 427.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 332 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 269 shares during the last quarter. Blue Trust Inc. increased its stake in Scotts Miracle-Gro by 83.6% in the third quarter. Blue Trust Inc. now owns 369 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 168 shares during the period. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Scotts Miracle-Gro in the third quarter valued at about $44,000. 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.