Bank of America Corp DE Has $59.84 Million Stock Holdings in Hostess Brands, Inc. (NASDAQ:TWNK)

Posted by on Jun 6th, 2023

Bank of America Corp DE grew its position in shares of Hostess Brands, Inc. (NASDAQ:TWNK – Get Rating) by 6.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,666,427 shares of the company’s stock after purchasing an additional 163,601 shares during the quarter. Bank of America Corp DE owned approximately 1.99% of Hostess Brands worth $59,835,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. lifted its stake in shares of Hostess Brands by 103.5% in the first quarter. BlackRock Inc. now owns 24,077,759 shares of the company’s stock worth $528,266,000 after acquiring an additional 12,247,765 shares during the period. Vanguard Group Inc. lifted its stake in shares of Hostess Brands by 18.5% in the first quarter. Vanguard Group Inc. now owns 15,734,264 shares of the company’s stock worth $345,209,000 after acquiring an additional 2,458,428 shares during the period. State Street Corp lifted its stake in shares of Hostess Brands by 81.7% in the first quarter. State Street Corp now owns 4,948,920 shares of the company’s stock worth $108,579,000 after acquiring an additional 2,225,559 shares during the period. Artemis Investment Management LLP lifted its stake in shares of Hostess Brands by 45.6% in the fourth quarter. Artemis Investment Management LLP now owns 2,952,673 shares of the company’s stock worth $66,500,000 after acquiring an additional 924,321 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of Hostess Brands by 208.5% in the first quarter. Invesco Ltd. now owns 1,271,547 shares of the company’s stock worth $27,898,000 after acquiring an additional 859,310 shares during the period.

Hostess Brands Stock Down 1.8 %

Shares of NASDAQ:TWNK opened at $25.76 on Tuesday. The stock has a market cap of $3.42 billion, a price-to-earnings ratio of 21.11 and a beta of 0.63. The company has a quick ratio of 1.47, a current ratio of 1.79 and a debt-to-equity ratio of 0.55. Hostess Brands, Inc. has a 12-month low of $19.00 and a 12-month high of $29.00. The business’s 50 day moving average is $25.48 and its 200 day moving average is $24.39.

Hostess Brands (NASDAQ:TWNK – Get Rating) last announced its earnings results on Tuesday, May 9th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.01. Hostess Brands had a return on equity of 7.52% and a net margin of 12.24%. The company had revenue of $345.40 million for the quarter, compared to analysts’ expectations of $338.44 million. During the same quarter in the previous year, the firm earned $0.27 earnings per share. Hostess Brands’s quarterly revenue was up 4.0% on a year-over-year basis. On average, sell-side analysts forecast that Hostess Brands, Inc. will post 1.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TWNK has been the topic of a number of recent analyst reports. UBS Group assumed coverage on Hostess Brands in a research note on Sunday, March 19th. They issued a “neutral” rating and a $26.00 price objective on the stock. Jefferies Financial Group lifted their target price on Hostess Brands from $30.00 to $31.00 in a report on Friday, April 28th. Credit Suisse Group decreased their price objective on Hostess Brands from $29.00 to $27.00 and set an “outperform” rating for the company in a report on Friday, February 10th. Deutsche Bank Aktiengesellschaft decreased their price objective on Hostess Brands from $25.00 to $23.00 and set a “hold” rating for the company in a report on Monday, March 20th. Finally, StockNews.com initiated coverage on Hostess Brands in a report on Thursday, May 18th. They set a “hold” rating for the company. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $26.83.

Hostess Brands Company Profile

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Hostess Brands, Inc engages in developing, manufacturing, marketing, selling, and distributing baked goods. It operates through the Snacking segment, which consists of sweet baked goods, cookies, bread and buns, and frozen retail products that are sold under the Hostess, Dolly Madison, Cloverhill, Big Texas, and Voortman brands.

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Institutional Ownership by Quarter for Hostess Brands (NASDAQ:TWNK)

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