Hostess Brands Inc (NASDAQ:TWNK) Position Increased by Westwood Holdings Group Inc.
Westwood Holdings Group Inc. increased its holdings in shares of Hostess Brands Inc (NASDAQ:TWNK) by 24.3% in the 1st quarter, Holdings Channel reports. The institutional investor owned 2,654,485 shares of the company’s stock after purchasing an additional 518,816 shares during the period. Westwood Holdings Group Inc.’s holdings in Hostess Brands were worth $33,182,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in TWNK. The Manufacturers Life Insurance Company increased its holdings in Hostess Brands by 10.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 64,796 shares of the company’s stock worth $810,000 after purchasing an additional 6,040 shares in the last quarter. Northern Trust Corp increased its holdings in Hostess Brands by 2.3% in the 1st quarter. Northern Trust Corp now owns 1,213,794 shares of the company’s stock worth $15,173,000 after purchasing an additional 27,859 shares in the last quarter. Citigroup Inc. increased its holdings in Hostess Brands by 32.1% in the 1st quarter. Citigroup Inc. now owns 29,481 shares of the company’s stock worth $368,000 after purchasing an additional 7,169 shares in the last quarter. Principal Financial Group Inc. acquired a new position in Hostess Brands in the 1st quarter worth about $126,000. Finally, King Luther Capital Management Corp increased its holdings in Hostess Brands by 1.7% in the 1st quarter. King Luther Capital Management Corp now owns 216,285 shares of the company’s stock worth $2,704,000 after purchasing an additional 3,565 shares in the last quarter. Institutional investors and hedge funds own 84.86% of the company’s stock.
TWNK has been the subject of a number of recent research reports. TheStreet raised Hostess Brands from a “c+” rating to a “b-” rating in a report on Monday, March 4th. Deutsche Bank raised Hostess Brands from a “hold” rating to a “buy” rating and upped their target price for the stock from $12.00 to $15.00 in a report on Tuesday, April 2nd. Evercore ISI initiated coverage on Hostess Brands in a report on Tuesday. They issued an “outperform” rating and a $16.00 target price for the company. BidaskClub cut Hostess Brands from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $14.00 target price on shares of Hostess Brands in a report on Thursday, May 9th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Hostess Brands presently has an average rating of “Hold” and an average target price of $13.50.
Hostess Brands (NASDAQ:TWNK) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.14 earnings per share for the quarter, meeting the consensus estimate of $0.14. The company had revenue of $222.74 million during the quarter, compared to analysts’ expectations of $210.90 million. Hostess Brands had a return on equity of 3.60% and a net margin of 6.96%. Sell-side analysts forecast that Hostess Brands Inc will post 0.62 earnings per share for the current year.
In other news, insider Hostess Cdm Co-Invest, Llc sold 1,174,376 shares of the stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $12.96, for a total value of $15,219,912.96. Following the completion of the sale, the insider now owns 765,059 shares of the company’s stock, valued at $9,915,164.64. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director C. Dean Metropoulos sold 1,834,300 shares of the stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $13.31, for a total value of $24,414,533.00. Following the completion of the sale, the director now directly owns 458,939 shares of the company’s stock, valued at approximately $6,108,478.09. The disclosure for this sale can be found here. In the last three months, insiders sold 9,174,376 shares of company stock valued at $121,699,913. Insiders own 23.60% of the company’s stock.
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About Hostess Brands
Hostess Brands, Inc, a packaged food company, develops, manufactures, markets, sells, and distributes fresh sweet baked goods in the United States. It primarily offer a range of snack cakes, donuts, sweet rolls, breakfast pastries, snack pies, and related products. The company operates in two segments, Sweet Baked Goods and In-Store Bakery.
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