Allspring Global Investments Holdings LLC Trims Stock Holdings in Hostess Brands, Inc. (NASDAQ:TWNK)

Posted by Defense World Staff on Nov 3rd, 2023

Allspring Global Investments Holdings LLC reduced its stake in Hostess Brands, Inc. (NASDAQ:TWNK – Free Report) by 28.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 264,730 shares of the company’s stock after selling 105,333 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.20% of Hostess Brands worth $6,703,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of TWNK. BlackRock Inc. increased its stake in Hostess Brands by 103.5% during the first quarter. BlackRock Inc. now owns 24,077,759 shares of the company’s stock worth $528,266,000 after purchasing an additional 12,247,765 shares during the period. Vanguard Group Inc. increased its stake in Hostess Brands by 0.6% during the third quarter. Vanguard Group Inc. now owns 15,997,837 shares of the company’s stock worth $371,790,000 after purchasing an additional 96,984 shares during the period. Dimensional Fund Advisors LP increased its stake in Hostess Brands by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 9,173,495 shares of the company’s stock worth $228,234,000 after purchasing an additional 49,810 shares during the period. State Street Corp increased its stake in Hostess Brands by 1.1% during the second quarter. State Street Corp now owns 5,004,593 shares of the company’s stock worth $106,147,000 after purchasing an additional 55,673 shares during the period. Finally, Champlain Investment Partners LLC increased its stake in Hostess Brands by 33.0% during the first quarter. Champlain Investment Partners LLC now owns 4,108,145 shares of the company’s stock worth $102,211,000 after purchasing an additional 1,019,345 shares during the period.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. StockNews.com assumed coverage on shares of Hostess Brands in a research note on Monday. They set a “sell” rating on the stock. Morgan Stanley cut their target price on shares of Hostess Brands from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 9th. Consumer Edge lowered shares of Hostess Brands from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, September 12th. Citigroup restated a “neutral” rating and set a $34.00 target price (up from $32.00) on shares of Hostess Brands in a research note on Monday, October 16th. Finally, Stephens lowered shares of Hostess Brands from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $29.58.

View Our Latest Analysis on TWNK

Hostess Brands Price Performance

TWNK stock opened at $33.37 on Friday. The company has a market capitalization of $4.43 billion, a P/E ratio of 26.91, a PEG ratio of 3.27 and a beta of 0.53. Hostess Brands, Inc. has a twelve month low of $21.59 and a twelve month high of $33.74. The business has a 50 day simple moving average of $32.14 and a 200-day simple moving average of $27.47. The company has a current ratio of 1.80, a quick ratio of 1.47 and a debt-to-equity ratio of 0.53.

Hostess Brands (NASDAQ:TWNK – Get Free Report) last posted its quarterly earnings data on Tuesday, August 8th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. The business had revenue of $352.36 million during the quarter, compared to the consensus estimate of $359.24 million. Hostess Brands had a return on equity of 7.82% and a net margin of 12.28%. The company’s revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.22 earnings per share. As a group, equities analysts anticipate that Hostess Brands, Inc. will post 1.12 EPS for the current year.

About Hostess Brands

(Free Report)

Hostess Brands, Inc develops, manufactures, markets, sells, and distributes snack products in the United States and Canada. The company provides a range of snack cakes, donuts, sweet rolls, breakfast pastries, cookies, snack pies, sweet baked goods, wafers, bread and buns, danishes, honey buns, coffee cakes, and sugar-free products.