Toronto Dominion Bank lifted its stake in HEXO Corp. (NASDAQ:HEXO) by 26.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 130,084 shares of the company’s stock after buying an additional 27,231 shares during the period. Toronto Dominion Bank’s holdings in HEXO were worth $694,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of the stock. FIL Ltd bought a new stake in shares of HEXO in the first quarter valued at approximately $4,691,000. TD Asset Management Inc. bought a new stake in HEXO during the second quarter worth $3,707,000. Swiss National Bank lifted its stake in HEXO by 28.5% during the second quarter. Swiss National Bank now owns 416,100 shares of the company’s stock worth $2,221,000 after purchasing an additional 92,300 shares during the last quarter. Intact Investment Management Inc. bought a new stake in HEXO during the second quarter worth $2,486,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new stake in HEXO during the first quarter worth $2,949,000.
Several research firms have weighed in on HEXO. TheStreet cut HEXO from a “c-” rating to a “d+” rating in a research note on Monday, July 22nd. Bank of America set a $10.00 target price on HEXO and gave the stock a “buy” rating in a research note on Thursday, June 13th. Oppenheimer cut HEXO from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 25th. Zacks Investment Research cut HEXO from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. Finally, CIBC restated a “market perform” rating on shares of HEXO in a research note on Tuesday, June 25th. Two analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. HEXO currently has an average rating of “Hold” and a consensus price target of $8.63.
HEXO Corp., through its subsidiary, HEXO Operations Inc, produces, markets, and sells cannabis in Canada. The company offers dried cannabis under the Time of Day and H2 lines; Elixir, a cannabis oil sublingual mist product line; and Decarb, an activated fine-milled cannabis powder product. It provides its products under the HEXO and Hydropothecary brand names.
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