TD Asset Management Inc. Has $32.08 Million Position in Canopy Growth Corp (NYSE:CGC)

TD Asset Management Inc. boosted its holdings in shares of Canopy Growth Corp (NYSE:CGC) by 3.8% during the second quarter, Holdings Channel reports. The institutional investor owned 792,827 shares of the marijuana producer’s stock after acquiring an additional 29,224 shares during the quarter. TD Asset Management Inc.’s holdings in Canopy Growth were worth $32,077,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Scott & Selber Inc. bought a new position in shares of Canopy Growth during the second quarter valued at $1,438,000. Wedbush Securities Inc. lifted its holdings in shares of Canopy Growth by 14.8% during the second quarter. Wedbush Securities Inc. now owns 29,614 shares of the marijuana producer’s stock valued at $1,194,000 after acquiring an additional 3,824 shares during the period. CWM LLC lifted its holdings in shares of Canopy Growth by 126.9% during the second quarter. CWM LLC now owns 1,241 shares of the marijuana producer’s stock valued at $50,000 after acquiring an additional 694 shares during the period. Advisor Group Inc. raised its holdings in shares of Canopy Growth by 21.2% in the second quarter. Advisor Group Inc. now owns 138,496 shares of the marijuana producer’s stock valued at $5,583,000 after buying an additional 24,251 shares during the last quarter. Finally, Coastal Capital Group Inc. bought a new position in shares of Canopy Growth in the second quarter valued at about $26,000. Hedge funds and other institutional investors own 8.16% of the company’s stock.

CGC stock traded up $0.92 during midday trading on Friday, reaching $28.26. The stock had a trading volume of 2,673,724 shares, compared to its average volume of 3,121,946. The business has a fifty day simple moving average of $35.57 and a two-hundred day simple moving average of $42.45. The company has a quick ratio of 11.49, a current ratio of 12.32 and a debt-to-equity ratio of 0.12. The firm has a market cap of $11.86 billion, a price-to-earnings ratio of -17.77 and a beta of 3.63. Canopy Growth Corp has a twelve month low of $25.26 and a twelve month high of $59.25.



Canopy Growth (NYSE:CGC) last announced its quarterly earnings data on Thursday, June 20th. The marijuana producer reported ($0.67) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.17) by ($0.50). The firm had revenue of $70.74 million during the quarter, compared to analyst estimates of $71.06 million. Canopy Growth had a negative return on equity of 15.82% and a negative net margin of 304.03%. On average, equities analysts predict that Canopy Growth Corp will post -0.9 earnings per share for the current fiscal year.

A number of research analysts recently issued reports on the company. Consumer Edge assumed coverage on Canopy Growth in a report on Friday, June 28th. They issued an “equal weight” rating for the company. Benchmark cut their price target on Canopy Growth from $100.00 to $60.00 and set a “buy” rating for the company in a report on Friday. Stifel Nicolaus reaffirmed a “buy” rating and issued a $44.00 price target (down from $50.00) on shares of Canopy Growth in a report on Friday. Compass Point assumed coverage on Canopy Growth in a report on Monday, June 10th. They issued a “neutral” rating and a $43.76 price target for the company. Finally, LADENBURG THALM/SH SH assumed coverage on Canopy Growth in a report on Wednesday, July 17th. They issued a “buy” rating and a $50.00 price target for the company. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $55.55.

Canopy Growth Profile

Canopy Growth Corporation, together with its subsidiaries, engages in growing, possession, and sale of medical cannabis in Canada. Its products include dried flowers, oils and concentrates, softgel capsules, and hemps. The company offers its products under the Tweed, Black Label, Spectrum Cannabis, DNA Genetics, Leafs By Snoop, CraftGrow, and Foria brand names.

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Institutional Ownership by Quarter for Canopy Growth (NYSE:CGC)

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