Majedie Asset Management Ltd Sells 28,418 Shares of Hostess Brands (TWNK)
Majedie Asset Management Ltd trimmed its holdings in shares of Hostess Brands (NASDAQ:TWNK) by 10.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 240,285 shares of the company’s stock after selling 28,418 shares during the period. Majedie Asset Management Ltd owned about 0.18% of Hostess Brands worth $3,282,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the business. D.A. Davidson & CO. acquired a new position in Hostess Brands during the third quarter valued at approximately $1,286,000. Malaga Cove Capital LLC acquired a new position in Hostess Brands during the third quarter valued at approximately $586,000. Cipher Capital LP acquired a new position in Hostess Brands during the third quarter valued at approximately $167,000. SG Americas Securities LLC lifted its position in Hostess Brands by 125.7% during the third quarter. SG Americas Securities LLC now owns 27,680 shares of the company’s stock valued at $378,000 after buying an additional 15,414 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Hostess Brands by 24.1% during the third quarter. Bank of New York Mellon Corp now owns 471,527 shares of the company’s stock valued at $6,441,000 after buying an additional 91,616 shares in the last quarter. 74.45% of the stock is currently owned by hedge funds and other institutional investors.
Hostess Brands (NASDAQ TWNK) traded up $0.12 during midday trading on Thursday, hitting $13.05. 931,400 shares of the stock were exchanged, compared to its average volume of 1,407,227. Hostess Brands has a twelve month low of $11.00 and a twelve month high of $17.18. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 2.18.
Hostess Brands (NASDAQ:TWNK) last posted its earnings results on Wednesday, November 8th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. Hostess Brands had a net margin of 2.58% and a return on equity of 1.16%. The business had revenue of $192.30 million for the quarter, compared to analysts’ expectations of $198.42 million. Hostess Brands’s revenue was down 2.0% on a year-over-year basis. equities research analysts anticipate that Hostess Brands will post 0.6 earnings per share for the current year.
A number of brokerages have weighed in on TWNK. Zacks Investment Research cut shares of Hostess Brands from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. Morgan Stanley reduced their target price on shares of Hostess Brands from $14.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 9th. Royal Bank Of Canada reissued a “buy” rating and set a $16.00 target price on shares of Hostess Brands in a research report on Wednesday, October 25th. J P Morgan Chase & Co began coverage on shares of Hostess Brands in a research report on Wednesday, October 11th. They set a “neutral” rating and a $15.00 target price on the stock. Finally, UBS Group AG began coverage on shares of Hostess Brands in a research report on Monday, July 31st. They set a “neutral” rating and a $16.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Hostess Brands has an average rating of “Buy” and a consensus price target of $16.25.
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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