Dubuque Bank & Trust Co. Acquires 1945 Shares of Canopy Growth Corp (CGC)

Dubuque Bank & Trust Co. boosted its stake in shares of Canopy Growth Corp (NYSE:CGC) by 35.5% during the 4th quarter, according to the …

Canopy Growth logoDubuque Bank & Trust Co. boosted its stake in shares of Canopy Growth Corp (NYSE:CGC) by 35.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,420 shares of the marijuana producer’s stock after purchasing an additional 1,945 shares during the period. Dubuque Bank & Trust Co.’s holdings in Canopy Growth were worth $199,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its holdings in Canopy Growth by 3,902.3% during the third quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 344,200 shares of the marijuana producer’s stock worth $21,599,000 after buying an additional 335,600 shares in the last quarter. Morgan Stanley acquired a new stake in shares of Canopy Growth in the second quarter valued at about $35,365,000. TD Asset Management Inc. raised its position in shares of Canopy Growth by 13.7% in the third quarter. TD Asset Management Inc. now owns 749,234 shares of the marijuana producer’s stock valued at $36,372,000 after buying an additional 90,068 shares during the last quarter. HRT Financial LLC acquired a new stake in shares of Canopy Growth in the third quarter valued at about $1,119,000. Finally, BKS Advisors LLC acquired a new stake in shares of Canopy Growth in the third quarter valued at about $253,000. 11.98% of the stock is currently owned by institutional investors.

Several equities research analysts recently issued reports on CGC shares. Piper Jaffray Companies started coverage on shares of Canopy Growth in a research report on Wednesday, January 9th. They set an “overweight” rating and a $40.00 price objective for the company. started coverage on shares of Canopy Growth in a research report on Friday, October 12th. They set a “sell” rating and a $30.00 price objective for the company. They noted that the move was a valuation call. Benchmark started coverage on shares of Canopy Growth in a research report on Tuesday, September 25th. They set a “buy” rating for the company. Zacks Investment Research cut shares of Canopy Growth from a “hold” rating to a “sell” rating in a research report on Tuesday, October 16th. Finally, CIBC assumed coverage on shares of Canopy Growth in a research note on Friday, January 18th. They set an “outperform” rating for the company. Two analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $43.67.

NYSE CGC opened at $43.66 on Wednesday. Canopy Growth Corp has a one year low of $16.74 and a one year high of $59.25. The company has a market capitalization of $10.10 billion, a PE ratio of -136.44 and a beta of 3.31.

Canopy Growth (NYSE:CGC) last posted its quarterly earnings data on Wednesday, November 14th. The marijuana producer reported ($0.76) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.64). The business had revenue of $23.30 million during the quarter, compared to analysts’ expectations of $59.10 million. Canopy Growth had a negative net margin of 503.14% and a negative return on equity of 26.32%. Canopy Growth’s revenue for the quarter was up 32.4% compared to the same quarter last year. As a group, sell-side analysts expect that Canopy Growth Corp will post -1.13 EPS for the current year.

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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, Bedrocan Canada, CraftGrow, and Foria brand names.

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

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Canopy Growth Corp (CGC) Stake Increased by Intact Investment Management Inc.

Intact Investment Management Inc. grew its stake in shares of Canopy Growth Corp (NYSE:CGC) by 127.8% in the fourth quarter, according to its most …

Canopy Growth logoIntact Investment Management Inc. grew its stake in shares of Canopy Growth Corp (NYSE:CGC) by 127.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 170,200 shares of the marijuana producer’s stock after purchasing an additional 95,500 shares during the quarter. Intact Investment Management Inc. owned approximately 0.07% of Canopy Growth worth $6,226,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of CGC. Morgan Stanley boosted its stake in shares of Canopy Growth by 243.3% during the third quarter. Morgan Stanley now owns 4,144,694 shares of the marijuana producer’s stock valued at $201,598,000 after purchasing an additional 2,937,286 shares during the period. Macquarie Group Ltd. purchased a new stake in shares of Canopy Growth during the third quarter valued at $66,202,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Canopy Growth by 234.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,802,260 shares of the marijuana producer’s stock valued at $87,492,000 after purchasing an additional 1,263,825 shares during the period. Artemis Investment Management LLP purchased a new stake in shares of Canopy Growth during the third quarter valued at $20,127,000. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its stake in shares of Canopy Growth by 3,902.3% during the third quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 344,200 shares of the marijuana producer’s stock valued at $21,599,000 after purchasing an additional 335,600 shares during the period. 11.98% of the stock is owned by hedge funds and other institutional investors.

CGC has been the subject of a number of recent analyst reports. CIBC initiated coverage on shares of Canopy Growth in a research note on Friday. They issued an “outperform” rating for the company. initiated coverage on shares of Canopy Growth in a research note on Friday, October 12th. They issued a “sell” rating and a $30.00 price objective for the company. They noted that the move was a valuation call. Benchmark initiated coverage on shares of Canopy Growth in a research note on Tuesday, September 25th. They issued a “buy” rating for the company. Scotiabank initiated coverage on shares of Canopy Growth in a research note on Wednesday, October 17th. They issued a “hold” rating and a $61.00 price objective for the company. Finally, Piper Jaffray Companies initiated coverage on shares of Canopy Growth in a research note on Wednesday, January 9th. They issued an “overweight” rating and a $40.00 price objective for the company. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $43.67.

NYSE:CGC traded up $0.05 during mid-day trading on Tuesday, reaching $43.57. The company’s stock had a trading volume of 6,444,062 shares, compared to its average volume of 10,183,172. Canopy Growth Corp has a 1 year low of $16.74 and a 1 year high of $59.25. The firm has a market cap of $10.10 billion, a PE ratio of -136.16 and a beta of 3.31.

Canopy Growth (NYSE:CGC) last released its quarterly earnings data on Wednesday, November 14th. The marijuana producer reported ($0.76) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.12) by ($0.64). Canopy Growth had a negative return on equity of 26.32% and a negative net margin of 503.14%. The business had revenue of $23.30 million during the quarter, compared to analysts’ expectations of $59.10 million. The firm’s revenue was up 32.4% compared to the same quarter last year. As a group, sell-side analysts predict that Canopy Growth Corp will post -1.13 EPS for the current fiscal year.

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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, Bedrocan Canada, CraftGrow, and Foria brand names.

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

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Canada’s Canopy Growth enters UK and Poland medical cannabis market

Canada’s cannabis company, Canopy Growth Corp. has recently announced its expansion in the UK and Poland where its medically-focused units …
cannabis market

The move will offer doctors and patients access to cannabis-based medicinal products that manage a wide range of clinical symptoms.

Canada’s cannabis company, Canopy Growth Corp. has recently announced its expansion in the UK and Poland where its medically-focused units Spectrum Biomedical UK and Spectrum Cannabis Polska continue to build a pan-European cannabis network that serves the needs of physicians and their patients throughout the continent.

For the record, specialist doctors in the UK, under the new federal classification, can now prescribe cannabis-based medicines to patients for managing a wide range of symptoms, from muscle spasticity to chemotherapy-induced nausea, chronic pain and vomiting.

Sources cite that Spectrum Biomedical UK, following the launch, be able to offer Spectrum Cannabis medicinal cannabis products to patients and doctors in the UK. The firm will also engage in physician education to ensure doctors are exposed to the deep research showing the therapeutic benefits of cannabis.

According to a press release, Dr. Mark Ware, CMO, Canopy Growth, said that there is a significant clinical and real-world evidence supporting the effectiveness and safety of cannabis-based medicinal products. He said that Spectrum UK owns expertise and a vision to simplify the UK medicinal cannabis sector and ensures access to medicinal cannabis products for patients with unmet clinical needs.

Reportedly, Spectrum Cannabis Polska has also completed its first successful medical cannabis import after completing a tough regulatory approval process to have the product assessed and approved for sale in Poland.

Dr. Pierre Debs, MD, Canopy Growth Europe, said that medical cannabis import is an important milestone for the company towards building its pan-European operations. He said that the company will continue to follow its overall self-sufficiency strategy in Europe to provide individuals with high-quality medical cannabis.

For the record, Spectrum Cannabis Polska is the fifth new cannabis unit of Canopy Growth in European markets. The company aims at transforming healthcare in Europe by offering access to medicinal cannabis-based treatments that have the potential to improve the lives of millions of patients, claim reports.

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Canopy Growth set to become the ‘global titan’ of cannabis: CIBC report

Canopy Growth Corp. in Smiths Falls is poised to dominate the global … And as the largest and most well-known cannabis company in the world, …

Canopy Growth Corp. in Smiths Falls is poised to dominate the global cannabis industry, a new report says.

The CIBC World Markets report compares the cannabis industry to both the gold rush and the development of the internet and the automobile. Only a few companies will live up to the “lofty expectations” of many and dominate the global market, said the report from the investment banking arm of the Canadian Imperial Bank of Commerce.

“We believe that Canopy Growth represents the industry’s best chance at a global titan.”

Canopy has billions in the bank, superior management, the potential to make breakthroughs with new medical products, and global aspirations, said the report. And as the largest and most well-known cannabis company in the world, Canopy also has a head start on global competitors.

“Investors rarely get to witness the birth of an industry,” said the report. While dozens of small and medium-size cannabis firms will earn moderate revenues, only a handful will dominate the global trade, the report predicts.

The report named Cronos Group as another likely winner. Cronos owns cannabis growing facilities in Ontario and British Columbia, and has international operations.

Canopy and Cronos stand out primarily because of their “best in class” management teams, said the report.

That’s a key factor in an industry in which stock prices ride a roller-coaster.

Prices fluctuate in response to news reports and regulatory changes. Consider Ontario’s rough start to the legalization of recreational cannabis on Oct. 17, with complaints of poor service and delayed deliveries at the online government store. Most Canadian cannabis growers lost 30 to 40 per cent of their company value in a week, the report noted.

On the other hand, even rumours of major players from other industries investing in cannabis can send stocks soaring.

Canopy had a market value of $19.8 billion at the end of the day Monday.

But such valuations matter less for cannabis companies than some other industries, the report said.

“The key element of any investor’s choice is management’s vision for the future, both for the industry as a whole and their own niche within the industry.”

Canopy’s Bruce Linton is probably the most famous cannabis CEO, said the report. That matters because of his familiarity to regulators and ability to negotiate with executives in other industries, it said.

Bruce Linton, founder, CEO and Chairman of Canopy Growth, travels from Ottawa to St. John’s, N.L. on the eve of legalization of pot in Canada to sell the first gram of legal pot from his Tweed store.Julie Oliver / Postmedia

The report said it’s not surprising that Canopy and Cronos have captured the two largest investments in the cannabis industry, from Big Alcohol and Big Tobacco.

Constellation Brands, a U.S. beer, wine and spirits company, poured $5.2 billion into Canopy to develop cannabis beverages. Tobacco giant Altria Group Inc. has a proposed investment in Cronos of $2.4 billion that will be voted on by shareholders next month.

Canopy, which began life as Tweed Marijuana in the old chocolate factory in Smiths Falls, has been the main ambassador for the cannabis industry, said the CIBC report.

The Hershey Canada Chocolate factory in 2007, shortly before closing.Mike Carroccetto / CNSPICS OTT

Canopy has been snapping up other companies at a rapid clip and expanding internationally.

It started by growing marijuana for medical patients and branched into recreational cannabis. Sometime this year, Canopy will unveil cannabis drinks, which officials promise will offer low-calorie, no hangover, healthier alternatives to alcohol.

However, the company still retains a strong focus on medical cannabis, where officials see global opportunity and the potential to replace pharmaceuticals and other products now used for sleep aids, pain treatment and mood therapy.

Canopy is also developing CBD products to treat anxiety in pets, another potentially huge market. (CBD is a non-psychoactive chemical found in cannabis and hemp.)

Staff work in a marijuana grow room at Canopy Growths Tweed facility in Smiths Falls, Ontario on Thursday, Aug. 23, 2018.Sean Kilpatrick / THE CANADIAN PRESS

Canopy Growth Corporation — by the numbers

2,500: Full-time employees

4.3 million: Square feet of Health Canada-licensed production space, spread over 13 facilities across the country that grow and process cannabis

15: Bricks-and-mortar Tweed or Tokyo Smoke stores the company operates in Newfoundland, Saskatchewan and Manitoba that sell recreational cannabis

$5.2 billion: Investment made into Canopy by Constellation Brands, the huge U.S. spirits, beer and wine company. Constellation Brands now owns 38 per cent of Canopy.

15: Countries in which Canopy has operations, partnerships, subsidiaries or business activities: Canada, U.S., Germany, United Kingdom, Colombia, Brazil, Australia, Chile, Denmark, Jamaica, Lesotho, Czech Republic, Spain, Poland and Peru.

$19.8 billion: Market value of Canopy Growth Corp. as of Monday

15: Approximate number of clinical trials Canopy has underway or planned to explore the potential medicinal benefits of cannabis

*sources: CIBC World Market, Canopy Growth Corp., Bloomberg

jmiller@postmedia.com

twitter.com/JacquieAMiller


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$75.51 Million in Sales Expected for Canopy Growth Corp (CGC) This Quarter

Wall Street brokerages expect that Canopy Growth Corp (NYSE:CGC) will report $75.51 million in sales for the current quarter, Zacks Investment …

Canopy Growth logoWall Street brokerages expect that Canopy Growth Corp (NYSE:CGC) will report $75.51 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Canopy Growth’s earnings, with estimates ranging from $66.98 million to $84.04 million. Canopy Growth reported sales of $17.09 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 341.8%. The firm is expected to announce its next quarterly earnings report after the market closes on Thursday, February 14th.

According to Zacks, analysts expect that Canopy Growth will report full year sales of $210.22 million for the current fiscal year, with estimates ranging from $197.10 million to $223.34 million. For the next fiscal year, analysts expect that the business will post sales of $609.59 million, with estimates ranging from $605.10 million to $614.07 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Canopy Growth.

Canopy Growth (NYSE:CGC) last issued its quarterly earnings data on Wednesday, November 14th. The marijuana producer reported ($0.76) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.64). Canopy Growth had a negative net margin of 503.14% and a negative return on equity of 26.32%. The business had revenue of $23.30 million for the quarter, compared to analysts’ expectations of $59.10 million. The company’s revenue was up 32.4% on a year-over-year basis.

Several equities research analysts have weighed in on the company. Benchmark assumed coverage on Canopy Growth in a research report on Tuesday, September 25th. They set a “buy” rating on the stock. Scotiabank began coverage on shares of Canopy Growth in a research report on Wednesday, October 17th. They set a “hold” rating and a $61.00 price target on the stock. CIBC began coverage on shares of Canopy Growth in a research report on Friday. They set an “outperform” rating on the stock. Piper Jaffray Companies began coverage on shares of Canopy Growth in a research report on Wednesday, January 9th. They set an “overweight” rating and a $40.00 price target on the stock. Finally, Zacks Investment Research lowered shares of Canopy Growth from a “hold” rating to a “sell” rating in a research report on Tuesday, October 16th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $43.67.

CGC stock traded up $0.75 during midday trading on Wednesday, reaching $43.52. The stock had a trading volume of 11,627,868 shares, compared to its average volume of 10,183,172. The firm has a market capitalization of $10.10 billion, a price-to-earnings ratio of -136.00 and a beta of 3.31. Canopy Growth has a 52-week low of $16.74 and a 52-week high of $59.25.

Large investors have recently bought and sold shares of the business. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp grew its stake in shares of Canopy Growth by 3,902.3% during the third quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 344,200 shares of the marijuana producer’s stock worth $21,599,000 after purchasing an additional 335,600 shares in the last quarter. Morgan Stanley acquired a new position in shares of Canopy Growth during the second quarter worth $35,365,000. TD Asset Management Inc. grew its stake in shares of Canopy Growth by 13.7% during the third quarter. TD Asset Management Inc. now owns 749,234 shares of the marijuana producer’s stock worth $36,372,000 after purchasing an additional 90,068 shares in the last quarter. HRT Financial LLC acquired a new position in shares of Canopy Growth during the third quarter worth $1,119,000. Finally, BKS Advisors LLC acquired a new position in shares of Canopy Growth during the third quarter worth $253,000. Institutional investors and hedge funds own 11.98% of the company’s stock.

About Canopy Growth

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, Bedrocan Canada, CraftGrow, and Foria brand names.

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