1. The Scotts Miracle-Gro Company (NYSE:SMG)
On February 17, Wells Fargo raised its price target on The Scotts Miracle-Gro Company (NYSE:SMG) to $75 from $70 and maintained an Overweight rating. The firm noted strong sector momentum, citing one of the strongest relative starts for Staples versus the S&P 500 on record, and refreshed price targets to reflect broader sector moves.
At its January 26, 2026, virtual annual meeting, shareholders approved an amendment and restatement of the company’s Long-Term Incentive Plan, increasing the pool of common shares available for grant by 2,750,000 shares. Beginning January 30, 2026, The Scotts Miracle-Gro Company (NYSE:SMG) implemented new standardized equity award agreements, including restricted stock units, performance units, and nonqualified stock options for certain employees and named executive officers, as well as restricted stock units and deferred stock units for non-employee directors. These actions reinforce the company’s reliance on equity-based compensation to align management and board incentives with shareholder value creation. Shareholders also elected four directors to terms extending through the 2029 annual meeting, approved executive compensation on an advisory basis, and ratified Deloitte & Touche LLP as independent auditor for fiscal 2026. Approximately 91% of outstanding shares were represented at the meeting, reflecting strong shareholder engagement in governance matters.
Founded in 1868 in Marysville, Ohio, The Scotts Miracle-Gro Company (NYSE:SMG) markets branded lawn and garden products across North America and has historically been viewed as a cannabis industry proxy through its Hawthorne Gardening subsidiary, which supplies hydroponic equipment and cultivation inputs to cannabis growers.
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