Hostess Brands (TWNK) Trading Down 11.1%
Shares of Hostess Brands (NASDAQ:TWNK) fell 11.1% on Friday . The stock traded as low as $11.61 and last traded at $11.94. 9,299,498 shares were traded during mid-day trading, an increase of 785% from the average session volume of 1,051,320 shares. The stock had previously closed at $13.43.
Several brokerages recently weighed in on TWNK. UBS AG downgraded shares of Hostess Brands from a “neutral” rating to a “sell” rating and cut their price objective for the company from $16.00 to $11.00 in a research report on Friday. J P Morgan Chase & Co began coverage on shares of Hostess Brands in a research report on Wednesday. They issued a “neutral” rating and a $15.00 price objective on the stock. Zacks Investment Research upgraded shares of Hostess Brands from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Morgan Stanley began coverage on shares of Hostess Brands in a research report on Monday, September 25th. They issued an “equal weight” rating and a $14.00 price objective on the stock. Finally, Royal Bank Of Canada began coverage on shares of Hostess Brands in a research report on Monday, September 18th. They issued an “outperform” rating and a $16.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Hostess Brands currently has a consensus rating of “Buy” and a consensus price target of $16.33.
The firm’s 50 day moving average is $13.58 and its 200 day moving average is $15.22. The stock’s market cap is $1.19 billion.
Hostess Brands (NASDAQ:TWNK) last issued its quarterly earnings results on Tuesday, August 8th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.01). The company had revenue of $203.18 million for the quarter, compared to analyst estimates of $205.41 million. Analysts predict that Hostess Brands will post $0.59 earnings per share for the current year.
In related news, CEO William Douglas Toler purchased 75,000 shares of Hostess Brands stock in a transaction that occurred on Friday, August 11th. The shares were acquired at an average price of $13.86 per share, for a total transaction of $1,039,500.00. Following the transaction, the chief executive officer now directly owns 560,000 shares in the company, valued at $7,761,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael John Cramer purchased 5,000 shares of Hostess Brands stock in a transaction that occurred on Friday, August 11th. The shares were bought at an average price of $13.98 per share, for a total transaction of $69,900.00. The disclosure for this purchase can be found here. 25.50% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Janus Henderson Group PLC acquired a new position in Hostess Brands during the 2nd quarter worth about $118,956,000. Vanguard Group Inc. lifted its position in Hostess Brands by 56.9% during the 2nd quarter. Vanguard Group Inc. now owns 6,695,119 shares of the company’s stock worth $107,791,000 after buying an additional 2,428,469 shares in the last quarter. Victory Capital Management Inc. lifted its position in Hostess Brands by 61.8% during the 2nd quarter. Victory Capital Management Inc. now owns 6,264,825 shares of the company’s stock worth $100,863,000 after buying an additional 2,393,253 shares in the last quarter. Franklin Resources Inc. acquired a new position in Hostess Brands during the 2nd quarter worth about $87,922,000. Finally, Vaughan Nelson Investment Management L.P. lifted its position in Hostess Brands by 1.8% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 3,564,150 shares of the company’s stock worth $57,383,000 after buying an additional 63,550 shares in the last quarter. Institutional investors and hedge funds own 77.51% of the company’s stock.
Hostess Brands Company Profile
Hostess Brands, Inc, a packaged food company, focuses on developing, manufacturing, marketing, selling, and distributing fresh sweet baked goods in the United States. The company operates in two segments, Sweet Baked Goods and Other. Its principal product lines include Twinkies, Zingers, Donettes, coffee cakes, cupcakes, cinnamon rolls, Ding Dongs, honey buns, fruit pies, Sno Balls, mini muffins, Chocodiles, Ho Hos, brownies, Suzy Qs, bread and buns, danishes, jumbo muffins, iced cookies, eclairs, and madeleines.
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