5 Best CBD Stocks To Invest In

3. The Scotts Miracle-Gro Company (NYSE:SMG)

Number Of Hedge Fund Holders: 19

The Scotts Miracle-Gro Company (NYSE:SMG) is an American multinational corporation that operates as a fertilizer and agricultural chemicals firm. Owing to its Hawthorne Gardening Company subsidiary that has scooped up the biggest players in hydroponics, the company has ramped up its involvement in the cannabis industry. On April 25, the firm declared a quarterly dividend of $0.66 per share, in line with previous, while the forward yield was 2.74%.

On May 4, JPMorgan analyst Jeffrey Zekauskas upgraded The Scotts Miracle-Gro Company (NYSE:SMG) to Overweight from Neutral with a price target of $130. He notes that The Scotts Miracle-Gro Company (NYSE:SMG) is by far the market share leader in sales of branded lawn and garden products with a domestic market share that approximates 50%.

Among the hedge funds being tracked by Insider Monkey, Washington-based investment firm Fisher Asset Management is a leading shareholder in The Scotts Miracle-Gro Company (NYSE:SMG), with 751,308 shares worth approximately $92.38 million. At the end of the first quarter of 2022, 19 hedge funds in the database of Insider Monkey held stakes worth $148.5 million in The Scotts Miracle-Gro Company (NYSE:SMG), compared to 26 in the preceding quarter.