TD Asset Management Inc. trimmed its stake in shares of Hostess Brands, Inc. (NASDAQ:TWNK) by 25.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 839,700 shares of the company’s stock after selling 284,824 shares during the quarter. TD Asset Management Inc. owned about 0.64% of Hostess Brands worth $11,470,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in TWNK. Ameritas Investment Partners Inc. acquired a new stake in shares of Hostess Brands during the second quarter valued at approximately $113,000. BNP Paribas Arbitrage SA grew its position in Hostess Brands by 896.1% during the second quarter. BNP Paribas Arbitrage SA now owns 9,881 shares of the company’s stock valued at $159,000 after purchasing an additional 8,889 shares in the last quarter. Cipher Capital LP purchased a new position in Hostess Brands during the third quarter valued at approximately $167,000. Amalgamated Bank bought a new stake in Hostess Brands in the second quarter worth approximately $170,000. Finally, KCG Holdings Inc. bought a new stake in Hostess Brands in the first quarter worth approximately $187,000. Institutional investors own 78.60% of the company’s stock.
Shares of Hostess Brands, Inc. (NASDAQ:TWNK) opened at $13.78 on Tuesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.18 and a quick ratio of 1.88. Hostess Brands, Inc. has a fifty-two week low of $11.00 and a fifty-two week high of $17.18.
Hostess Brands (NASDAQ:TWNK) last issued its earnings results on Wednesday, November 8th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.01. The company had revenue of $192.30 million for the quarter, compared to analyst estimates of $198.42 million. Hostess Brands had a net margin of 2.58% and a return on equity of 1.16%. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. research analysts expect that Hostess Brands, Inc. will post 0.6 earnings per share for the current year.
In other news, CEO William Douglas Toler bought 50,000 shares of the firm’s stock in a transaction that occurred on Friday, November 24th. The stock was acquired at an average cost of $12.88 per share, with a total value of $644,000.00. Following the completion of the purchase, the chief executive officer now owns 250,000 shares of the company’s stock, valued at $3,220,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Neil P. Defeo bought 10,000 shares of the firm’s stock in a transaction that occurred on Friday, November 24th. The stock was purchased at an average cost of $12.96 per share, with a total value of $129,600.00. Following the completion of the purchase, the director now directly owns 16,482 shares of the company’s stock, valued at approximately $213,606.72. The disclosure for this purchase can be found here. Company insiders own 25.50% of the company’s stock.
Several analysts have commented on TWNK shares. Royal Bank of Canada reissued a “buy” rating and issued a $16.00 target price on shares of Hostess Brands in a research report on Wednesday, October 25th. Morgan Stanley decreased their price objective on shares of Hostess Brands from $14.00 to $12.00 and set an “equal weight” rating for the company in a report on Thursday, November 9th. Zacks Investment Research cut shares of Hostess Brands from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. J P Morgan Chase & Co initiated coverage on shares of Hostess Brands in a research note on Wednesday, October 11th. They set a “neutral” rating and a $15.00 target price for the company. Finally, UBS cut shares of Hostess Brands from a “neutral” rating to a “sell” rating and cut their target price for the company from $16.00 to $11.00 in a research note on Friday, October 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $16.25.
Hostess Brands 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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