Cadence Capital Management LLC Continues to Hold Stake in Hostess Brands (TWNK)
Cadence Capital Management LLC held its position in shares of Hostess Brands (NASDAQ:TWNK) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 69,810 shares of the company’s stock at the end of the second quarter. Cadence Capital Management LLC owned 0.07% of Hostess Brands worth $1,124,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of TWNK. First Personal Financial Services purchased a new position in shares of Hostess Brands during the first quarter worth $106,000. First Mercantile Trust Co. purchased a new position in shares of Hostess Brands during the first quarter worth $141,000. First Trust Bank Ltd. purchased a new position in shares of Hostess Brands during the first quarter worth $159,000. BNP Paribas Arbitrage SA raised its position in shares of Hostess Brands by 896.1% in the second quarter. BNP Paribas Arbitrage SA now owns 9,881 shares of the company’s stock worth $159,000 after buying an additional 8,889 shares during the last quarter. Finally, Sei Investments Co. purchased a new position in shares of Hostess Brands during the first quarter worth $166,000. 95.39% of the stock is currently owned by institutional investors.
Shares of Hostess Brands (TWNK) opened at 13.48 on Friday. Hostess Brands has a 12 month low of $10.65 and a 12 month high of $17.18. The stock’s market capitalization is $1.35 billion. The stock’s 50 day moving average price is $14.87 and its 200 day moving average price is $15.65.
Hostess Brands (NASDAQ:TWNK) last posted its quarterly earnings data on Tuesday, August 8th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by $0.01. The company had revenue of $203.18 million during the quarter, compared to the consensus estimate of $205.41 million. Analysts expect that Hostess Brands will post $0.59 EPS for the current year.
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TWNK has been the topic of a number of research reports. Deutsche Bank AG set a $19.00 target price on Hostess Brands and gave the stock a “buy” rating in a research report on Wednesday, May 10th. Zacks Investment Research raised Hostess Brands from a “sell” rating to a “buy” rating and set a $17.00 target price on the stock in a research report on Thursday, July 13th. BidaskClub raised Hostess Brands from a “hold” rating to a “buy” rating in a research report on Friday, June 9th. UBS AG initiated coverage on Hostess Brands in a research report on Monday, July 31st. They set a “neutral” rating and a $16.00 target price on the stock. Finally, Stephens initiated coverage on Hostess Brands in a research report on Tuesday, May 16th. They set an “overweight” rating and a $20.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Hostess Brands presently has a consensus rating of “Buy” and a consensus target price of $17.83.
In related news, insider Michael John Cramer bought 5,000 shares of the stock in a transaction dated Friday, August 11th. The shares were acquired at an average cost of $13.98 per share, for a total transaction of $69,900.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO William Douglas Toler bought 75,000 shares of the stock in a transaction dated Friday, August 11th. The shares were bought at an average price of $13.86 per share, for a total transaction of $1,039,500.00. Following the completion of the acquisition, the chief executive officer now owns 560,000 shares in the company, valued at $7,761,600. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 130,000 shares of company stock worth $1,901,900. Insiders own 25.50% of the company’s stock.
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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