Toronto Dominion Bank Has $9.64 Million Holdings in Canopy Growth Co. (NASDAQ:CGC)

Toronto Dominion Bank reduced its stake in shares of Canopy Growth Co. (NASDAQ:CGC) by 58.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 300,146 shares of the company’s stock after selling 419,519 shares during the quarter. Toronto Dominion Bank owned 0.08% of Canopy Growth worth $9,638,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Amundi Pioneer Asset Management Inc. increased its position in shares of Canopy Growth by 6.7% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 36,373 shares of the company’s stock worth $1,577,000 after purchasing an additional 2,296 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of Canopy Growth by 10.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 17,844 shares of the company’s stock worth $440,000 after purchasing an additional 1,722 shares in the last quarter. NN Investment Partners Holdings N.V. increased its position in shares of Canopy Growth by 4.3% during the 4th quarter. NN Investment Partners Holdings N.V. now owns 46,037 shares of the company’s stock worth $1,134,000 after purchasing an additional 1,889 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of Canopy Growth by 142.0% during the 4th quarter. CIBC Asset Management Inc now owns 373,968 shares of the company’s stock worth $9,180,000 after purchasing an additional 219,446 shares in the last quarter. Finally, Winslow Evans & Crocker Inc. increased its position in shares of Canopy Growth by 57.5% during the 4th quarter. Winslow Evans & Crocker Inc. now owns 11,710 shares of the company’s stock worth $288,000 after purchasing an additional 4,275 shares in the last quarter. 12.73% of the stock is owned by institutional investors.

Canopy Growth stock opened at $25.66 on Friday. The business’s 50 day moving average price is $25.99. Canopy Growth Co. has a fifty-two week low of $13.83 and a fifty-two week high of $56.50. The company has a market cap of $9.83 billion, a price-to-earnings ratio of -7.11 and a beta of 2.11. The company has a quick ratio of 8.69, a current ratio of 9.98 and a debt-to-equity ratio of 0.45.

Canopy Growth (NASDAQ:CGC) last released its quarterly earnings data on Monday, May 31st. The company reported ($1.85) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($1.67). Canopy Growth had a negative return on equity of 18.67% and a negative net margin of 311.30%. The firm had revenue of $167.40 million for the quarter, compared to the consensus estimate of $149.97 million. During the same period in the previous year, the business earned ($3.72) EPS. The firm’s revenue was up 45.4% compared to the same quarter last year. As a group, research analysts anticipate that Canopy Growth Co. will post -0.58 EPS for the current fiscal year.

Several research firms have weighed in on CGC. Cantor Fitzgerald lowered their price objective on shares of Canopy Growth from $62.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, April 9th. Jefferies Financial Group cut shares of Canopy Growth from a “hold” rating to an “underperform” rating in a research report on Wednesday, February 24th. TheStreet cut shares of Canopy Growth from a “c-” rating to a “d” rating in a research report on Tuesday, June 1st. Alliance Global Partners reaffirmed a “neutral” rating and issued a $32.00 target price (down previously from $40.00) on shares of Canopy Growth in a research note on Tuesday, June 1st. Finally, Desjardins reduced their target price on shares of Canopy Growth from C$55.00 to C$35.00 and set a “hold” rating on the stock in a research note on Thursday, June 3rd. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $31.41.

Canopy Growth Profile

Canopy Growth Corporation, together with its subsidiaries, engages in the production, distribution, and sale of cannabis for recreational and medical purposes primarily in Canada, the United States, Germany, and the United Kingdom. It operates through two segments, Cannabis, Hemp and Other Consumer Products; and Canopy Rivers.

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

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