State of New Jersey Common Pension Fund D Sells 37,206 Shares of Hostess Brands, Inc. (NASDAQ:TWNK)

Posted by MarketBeat News on Aug 1st, 2022

State of New Jersey Common Pension Fund D cut its stake in Hostess Brands, Inc. (NASDAQ:TWNK – Get Rating) by 23.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 119,263 shares of the company’s stock after selling 37,206 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Hostess Brands were worth $2,617,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in TWNK. Ensign Peak Advisors Inc bought a new position in Hostess Brands during the 4th quarter worth about $143,000. Everence Capital Management Inc. bought a new position in Hostess Brands during the 1st quarter worth about $206,000. Truist Financial Corp bought a new position in Hostess Brands during the 1st quarter worth about $217,000. Advisor Group Holdings Inc. grew its holdings in Hostess Brands by 5.1% during the 4th quarter. Advisor Group Holdings Inc. now owns 12,023 shares of the company’s stock worth $245,000 after acquiring an additional 586 shares in the last quarter. Finally, Quantedge Capital Pte Ltd bought a new position in Hostess Brands during the 4th quarter worth about $280,000.

Wall Street Analyst Weigh In

TWNK has been the subject of several analyst reports. Citigroup increased their price target on shares of Hostess Brands from $26.00 to $28.00 in a research report on Thursday, May 5th. JPMorgan Chase & Co. increased their price target on shares of Hostess Brands from $25.00 to $26.00 and gave the company an “overweight” rating in a research report on Tuesday, June 21st. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $25.57.

Insiders Place Their Bets

In other Hostess Brands news, insider Michael Gernigin sold 7,060 shares of the firm’s stock in a transaction that occurred on Friday, May 27th. The shares were sold at an average price of $21.38, for a total transaction of $150,942.80. Following the completion of the transaction, the insider now directly owns 6,922 shares of the company’s stock, valued at approximately $147,992.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Michael John Cramer sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 11th. The shares were sold at an average price of $22.15, for a total transaction of $553,750.00. Following the sale, the insider now owns 43,408 shares of the company’s stock, valued at approximately $961,487.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Gernigin sold 7,060 shares of the firm’s stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of $21.38, for a total transaction of $150,942.80. Following the sale, the insider now directly owns 6,922 shares in the company, valued at approximately $147,992.36. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by insiders.

Hostess Brands Stock Performance

Shares of Hostess Brands stock opened at $22.62 on Monday. The firm has a market capitalization of $3.13 billion, a P/E ratio of 25.13 and a beta of 0.58. The company has a quick ratio of 2.04, a current ratio of 2.32 and a debt-to-equity ratio of 0.62. The company has a 50 day moving average price of $20.89 and a 200 day moving average price of $21.28. Hostess Brands, Inc. has a 52 week low of $15.10 and a 52 week high of $24.27.

Hostess Brands (NASDAQ:TWNK – Get Rating) last announced its quarterly earnings data on Wednesday, May 4th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.23 by $0.04. Hostess Brands had a net margin of 10.52% and a return on equity of 7.78%. The firm had revenue of $332.10 million during the quarter, compared to analyst estimates of $298.99 million. During the same period last year, the firm posted $0.20 EPS. Hostess Brands’s revenue was up 25.1% on a year-over-year basis. Sell-side analysts expect that Hostess Brands, Inc. will post 0.97 EPS for the current year.

About Hostess Brands

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Hostess Brands, Inc, a packaged food company, develops, manufactures, markets, sells, and distributes snack products in the United States. 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.