Bank of New York Mellon Corp raised its stake in Hostess Brands (NASDAQ:TWNK) by 15.2% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 93,962 shares of the company’s stock after buying an additional 12,401 shares during the period. Bank of New York Mellon Corp owned 0.10% of Hostess Brands worth $1,492,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the company. Hudson Bay Capital Management LP acquired a new stake in Hostess Brands during the fourth quarter valued at approximately $6,064,000. Columbus Circle Investors acquired a new stake in Hostess Brands during the first quarter valued at approximately $4,410,000. Nationwide Fund Advisors acquired a new stake in Hostess Brands during the first quarter valued at approximately $345,000. First Mercantile Trust Co. acquired a new stake in Hostess Brands during the first quarter valued at approximately $141,000. Finally, Russell Investments Group Ltd. boosted its stake in Hostess Brands by 410.0% in the first quarter. Russell Investments Group Ltd. now owns 647,693 shares of the company’s stock valued at $10,279,000 after buying an additional 520,683 shares in the last quarter. 89.74% of the stock is owned by institutional investors and hedge funds.
Hostess Brands (NASDAQ TWNK) opened at 13.90 on Friday. The firm has a 50-day moving average price of $15.57 and a 200 day moving average price of $15.73. Hostess Brands has a one year low of $10.48 and a one year high of $17.18. The company’s market cap is $1.39 billion.
Hostess Brands (NASDAQ:TWNK) last posted its earnings results on Tuesday, August 8th. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by $0.01. The business had revenue of $203.18 million during the quarter, compared to analysts’ expectations of $205.41 million. Equities analysts expect that Hostess Brands will post $0.60 earnings per share for the current fiscal year.
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TWNK has been the subject of several recent analyst reports. Zacks Investment Research raised Hostess Brands from a “sell” rating to a “hold” rating in a research note on Friday, April 14th. Deutsche Bank AG set a $19.00 target price on Hostess Brands and gave the stock a “buy” rating in a research note on Wednesday, May 10th. Stephens initiated coverage on Hostess Brands in a research note on Tuesday, May 16th. They set an “overweight” rating and a $20.00 target price for the company. BidaskClub raised Hostess Brands from a “hold” rating to a “buy” rating in a research note on Friday, June 9th. Finally, UBS AG initiated coverage on Hostess Brands in a research note on Monday, July 31st. They set a “neutral” rating and a $16.00 target price for the company. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Hostess Brands currently has a consensus rating of “Buy” and a consensus price target of $17.83.
In other Hostess Brands news, insider Cdm Hostess Class C, Llc sold 376,211 shares of the company’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $16.70, for a total transaction of $6,282,723.70. Following the transaction, the insider now owns 214,000 shares in the company, valued at approximately $3,573,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider William Douglas Toler bought 50,000 shares of Hostess Brands stock in a transaction on Wednesday, May 31st. The shares were purchased at an average price of $15.85 per share, for a total transaction of $792,500.00. Following the acquisition, the insider now directly owns 485,000 shares in the company, valued at approximately $7,687,250. The disclosure for this purchase can be found here. 25.50% of the stock is currently owned by corporate insiders.
About Hostess Brands
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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