Swiss National Bank Acquires 37,500 Shares of Canopy Growth Corp (NYSE:CGC)

Swiss National Bank increased its holdings in shares of Canopy Growth Corp (NYSE:CGC) by 5.2% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 759,400 shares of the marijuana producer’s stock after purchasing an additional 37,500 shares during the quarter. Swiss National Bank owned 0.22% of Canopy Growth worth $30,657,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of CGC. Wealthcare Advisory Partners LLC lifted its position in Canopy Growth by 15.9% during the first quarter. Wealthcare Advisory Partners LLC now owns 1,906 shares of the marijuana producer’s stock valued at $83,000 after purchasing an additional 261 shares in the last quarter. IPG Investment Advisors LLC raised its stake in Canopy Growth by 4.0% in the 1st quarter. IPG Investment Advisors LLC now owns 7,772 shares of the marijuana producer’s stock worth $336,000 after acquiring an additional 300 shares during the last quarter. Kistler Tiffany Companies LLC raised its stake in Canopy Growth by 43.0% in the 2nd quarter. Kistler Tiffany Companies LLC now owns 1,097 shares of the marijuana producer’s stock worth $44,000 after acquiring an additional 330 shares during the last quarter. Hudock Capital Group LLC raised its stake in Canopy Growth by 99.5% in the 1st quarter. Hudock Capital Group LLC now owns 868 shares of the marijuana producer’s stock worth $37,000 after acquiring an additional 433 shares during the last quarter. Finally, Private Capital Group LLC raised its stake in Canopy Growth by 221.5% in the 1st quarter. Private Capital Group LLC now owns 643 shares of the marijuana producer’s stock worth $28,000 after acquiring an additional 443 shares during the last quarter. 8.98% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have recently commented on the stock. Evercore ISI assumed coverage on shares of Canopy Growth in a report on Wednesday, June 12th. They issued an “outperform” rating and a $107.57 target price for the company. LADENBURG THALM/SH SH assumed coverage on shares of Canopy Growth in a report on Wednesday, July 17th. They issued a “buy” rating and a $50.00 target price for the company. Bank of America set a $53.00 target price on shares of Canopy Growth and gave the company a “buy” rating in a report on Wednesday, July 3rd. Desjardins reaffirmed a “hold” rating on shares of Canopy Growth in a report on Friday, August 16th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $44.00 price target (down from $50.00) on shares of Canopy Growth in a research note on Friday, August 16th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $55.13.

Shares of CGC opened at $26.53 on Thursday. The stock’s 50-day simple moving average is $34.04 and its 200 day simple moving average is $41.94. The stock has a market capitalization of $9.26 billion, a price-to-earnings ratio of -16.68 and a beta of 3.63. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.03 and a current ratio of 10.37. Canopy Growth Corp has a 52-week low of $25.26 and a 52-week high of $59.25.

Canopy Growth (NYSE:CGC) last issued its quarterly earnings data on Thursday, June 20th. The marijuana producer reported ($0.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.50). The company had revenue of $70.74 million for the quarter, compared to analysts’ expectations of $71.06 million. Canopy Growth had a negative return on equity of 13.01% and a negative net margin of 647.47%. On average, research analysts forecast that Canopy Growth Corp will post -1.68 earnings per share for the current fiscal year.

Canopy Growth Company 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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