5 Best Marijuana Stocks To Buy Now

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

Number of Hedge Fund Holders: 29

The Scotts Miracle-Gro Company (NYSE:SMG) is North America’s biggest manufacturer and distributor of branded consumer lawn and garden products. The Scotts Miracle-Gro Company (NYSE:SMG) products include grass seed, plant food, fertilizer, and weed control. Hawthorne Gardening Company, a subsidiary of the company, supplies hydroponic gardening products to consumers for cannabis cultivation.

On November 08, 2022, Gaurav Jain, an analyst at Barclays, upgraded his rating on The Scotts Miracle-Gro Company (NYSE:SMG) to Overweight from the previous Equal Weight. The analyst currently has a target price of $75 on the stock and believes that the company will be able to deliver $6-$8/share in free cash flow over the next three years.

As per Insider Monkey’s proprietary database, 29 hedge funds were bullish on The Scotts Miracle-Gro Company (NYSE:SMG), as of the end of the third quarter. First Eagle Investment Management was the biggest stakeholder in the company’s stock at the end of Q3 2022.