Scotts Miracle-Gro Company (NYSE: SMG) stock fell -2.80% on Monday to $56.26 against a previous-day closing price of $57.88. With 0.78 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.78 million shares. The 52-week range on SMG shows that it touched its highest point at $88.61 and its lowest point at $43.67 during that stretch. It currently has a 1-year price target of $62.71. With its current market cap of 3.16 billion, SMG has annualized dividend of $2.73 while the current yield stands at 4.85%. Beta for the stock currently stands at 1.73.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of SMG was up-trending over the past week, with a rise of 12.54%, but this was up by 21.09% over a month. Three-month performance surged to 11.87% while six-month performance fell -18.26%. The stock lost -4.43% in the past year, while it has gained 15.79% so far this year. A look at the trailing 12-month EPS for SMG yields -6.79 with Next year EPS estimates of 3.79. For the next quarter, that number is -1.37. This implies an EPS growth rate of 123.08% for this year and 40.27% for next year.
Float and Shares Shorts:
At present, 55.50 million SMG shares are outstanding with a float of 41.59 million shares on hand for trading. On Oct 30, 2023, short shares totaled 4.52 million, which was 8.06% higher than short shares on Sep 28, 2023. In addition to Mr. James S. Hagedorn as the firm’s President, CEO & Chairman of the Board, Mr. Christopher J. Hagedorn serves as its Executive VP & Division President of Hawthorne Gardening Company.
Through their ownership of 72.71% of SMG’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 43.43% of SMG, in contrast to 33.32% held by mutual funds. Shares owned by individuals account for 30.51%. As the largest shareholder in SMG with 8.73% of the stake, Kayne Anderson Rudnick Investment holds 4,899,898 shares worth 4,899,898. A second-largest stockholder of SMG, The Vanguard Group, Inc., holds 4,577,040 shares, controlling over 8.15% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in SMG, holding 3,581,459 shares or 6.38% stake. With a 2.34% stake in SMG, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 1,315,291 shares are owned by the mutual fund manager. The iShares Core S&P Mid Cap ETF, which owns about 2.29% of SMG stock, is the second-largest Mutual Fund holder. It holds 1,283,315 shares valued at 57.03 million. T Rowe Price Mid Cap Value Fund holds 2.20% of the stake in SMG, owning 1,237,279 shares worth 54.98 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SMG since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With SMG analysts setting a high price target of $70.00 and a low target of $49.00, the average target price over the next 12 months is $62.71. Based on these targets, SMG could surge 24.42% to reach the target high and fall by -12.9% to reach the target low. Reaching the average price target will result in a growth of 11.46% from current levels.
Summary of Insider Activity:
Insiders traded SMG stock several times over the past three months with 16 Buys and 1 Sells. In these transactions, 31,514 shares were bought while 23,685 shares were sold. The number of buy transactions has increased to 85 while that of sell transactions has risen to 30 over the past year. The total number of shares bought during that period was 105,809 while 611,124 shares were sold.