Maintaining Scotts Miracle-Gro $86 FVE as Shares Fall 7% on Glyphosate Ruling; Shares Undervalued
On March 20, Scotts Miracle-Gro shares were down nearly 7% at the time of writing due to a San Francisco jury ruling that found that Bayer's glyphosate-based Roundup product causes cancer. Scotts markets the consumer version of Roundup. We reiterate that Scotts is indemnified from Bayer against any Roundup-related lawsuits and as such, we think all potential legal liabilities would fall to Bayer. Further, we note that glyphosate-based Roundup sales typically account for less than 5% of Scotts' t...Scotts Miracle-Gro is a manufacturer and marketer of consumer lawn and garden products in North America. The company's segments are: United States Consumer, which consists of the company's consumer lawn and garden business located in United States; Hawthorne, which consists of the company's indoor, urban and hydroponic gardening business; and Other, which consists of the company's consumer lawn and garden business in geographies other than the United States and the company's product sales to nurseries, greenhouses and other customers. The company manufactures, markets and sells lawn and garden products in the following categories: lawn care, gardening and landscape, hydroponics, and controls.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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