The share price of The Scotts Miracle-Gro Company (NYSE:SMG) fell to $62.34 per share on Tuesday from $64.15. While The Scotts Miracle-Gro Company has underperformed by -2.82%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, SMG fell by -58.23%, with highs and lows ranging from $156.00 to $39.06, whereas the simple moving average fell by -12.92% in the last 200 days.
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On November 08, 2022, Barclays Upgraded The Scotts Miracle-Gro Company (NYSE: SMG) to Overweight. A report published by UBS on July 22, 2022, Downgraded its rating to ‘Neutral’ for SMG. Wells Fargo also Downgraded SMG shares as ‘Equal Weight’, setting a target price of $85 on the company’s shares in a report dated June 22, 2022. JP Morgan June 09, 2022d the rating to Neutral on June 09, 2022, and set its price target from $130 to $95. Truist June 08, 2022d its ‘Buy’ rating to ‘Hold’ for SMG, as published in its report on June 08, 2022. JP Morgan’s report from May 04, 2022 suggests a price prediction of $130 for SMG shares, giving the stock a ‘Overweight’ rating. Stifel also rated the stock as ‘Hold’.
Analysis of The Scotts Miracle-Gro Company (SMG)
A return on investment can be expected regardless of SMG’s performance over the next quarter with the dividend set at $2.64 per share. Further, the quarter-over-quarter decrease in sales is -33.10%, showing a negative trend in the upcoming months.
To gain a thorough understanding of The Scotts Miracle-Gro Company’s future performance, several well-rounded types of analysis and research techniques can be used, with equity being among the most crucial. The goal here is to ensure that your current return on equity of -73.70% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 0.70, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
It is also very valuable to look at average volume as an indicator of volatility for a stock, and SMG is recording an average volume of 893.59K. On a monthly basis, the volatility of the stock is set at 5.28%, whereas on a weekly basis, it is put at 7.52%, with a gain of 0.27% over the past seven days. Furthermore, long-term investors anticipate a median target price of $57.12, showing decline from the present price of $62.34, which can serve as yet another indication of whether SMG is worth investing in or should be passed over.
How Do You Analyze The Scotts Miracle-Gro Company Shares?
The number of employees owning shares of the company should also be considered in addition to the fundamentals. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.90%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 70.00% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in SMG shares?
The recent increase in stakes in SMG appears to be a result of several institutional investors and hedge funds increasing their positions. Kayne Anderson Rudnick Investment’s position in SMG has decreased by -1.74% in the first quarter. The company now owns 4,963,530 shares of the stock, with a value of $241.18 million, following the sale of -87,723 additional shares during the last quarter. The Vanguard Group, Inc. made another increased to its shares in SMG during the first quarter, upping its stake by 1.06%. During the last quarter, the company picked up 44,060 additional shares for a total stake of worth $203.89 million, bringing number of shares owned by the company to 4,196,110.
During the first quarter, BlackRock Fund Advisors added a 35,833 position in SMG. EARNEST Partners LLC purchased an additional 0.41 million shares in the last quarter, increasing its holdings by 16.96%, now holding 2.83 million shares worth $137.46 million. At the end of the first quarter, T. Rowe Price Associates, Inc. increased its SMG holdings by 23.21% and now holds 2.05 million SMG shares valued at $99.45 million with the added 0.39 million shares during the period. SMG shares are owned by institutional investors to the tune of 70.00% at present.
