JPMorgan Chase & Co. Lowers Duckhorn Portfolio (NYSE:NAPA) to Neutral

JPMorgan Chase & Co. downgraded shares of Duckhorn Portfolio (NYSE:NAPAGet Rating) from an overweight rating to a neutral rating in a research note published on Thursday morning, Marketbeat reports. They currently have $19.00 price objective on the stock, down from their previous price objective of $24.00.

A number of other equities analysts have also recently commented on the company. Barclays lifted their target price on Duckhorn Portfolio from $20.00 to $21.00 and gave the stock an equal weight rating in a report on Monday, June 6th. Citigroup dropped their target price on Duckhorn Portfolio from $24.00 to $22.00 and set a buy rating for the company in a report on Tuesday, August 2nd. Finally, Jefferies Financial Group dropped their target price on Duckhorn Portfolio from $28.00 to $23.00 and set a buy rating for the company in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Duckhorn Portfolio has a consensus rating of Moderate Buy and a consensus price target of $23.25.

Duckhorn Portfolio Stock Performance

NYSE:NAPA opened at $14.31 on Thursday. The company has a market cap of $1.65 billion, a price-to-earnings ratio of 26.50, a PEG ratio of 2.02 and a beta of -0.29. The company has a debt-to-equity ratio of 0.26, a current ratio of 6.24 and a quick ratio of 1.02. The stock’s 50 day simple moving average is $18.39 and its two-hundred day simple moving average is $18.95. Duckhorn Portfolio has a 1 year low of $14.24 and a 1 year high of $25.25.

Insider Activity at Duckhorn Portfolio

In related news, major shareholder Mallard Holdco, Llc sold 5,000,000 shares of the business’s stock in a transaction on Monday, July 11th. The stock was sold at an average price of $19.25, for a total transaction of $96,250,000.00. Following the completion of the transaction, the insider now owns 69,150,301 shares in the company, valued at approximately $1,331,143,294.25. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Duckhorn Portfolio news, insider Zach Rasmuson sold 25,000 shares of Duckhorn Portfolio stock in a transaction on Friday, July 1st. The stock was sold at an average price of $20.18, for a total transaction of $504,500.00. Following the completion of the sale, the insider now directly owns 422,685 shares of the company’s stock, valued at approximately $8,529,783.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Mallard Holdco, Llc sold 5,000,000 shares of Duckhorn Portfolio stock in a transaction on Monday, July 11th. The shares were sold at an average price of $19.25, for a total value of $96,250,000.00. Following the sale, the insider now directly owns 69,150,301 shares of the company’s stock, valued at $1,331,143,294.25. The disclosure for this sale can be found here. 3.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Duckhorn Portfolio

Institutional investors and hedge funds have recently bought and sold shares of the company. Westwood Holdings Group Inc. bought a new position in shares of Duckhorn Portfolio in the 4th quarter worth $31,588,000. Kingdon Capital Management L.L.C. raised its position in shares of Duckhorn Portfolio by 169.3% in the 4th quarter. Kingdon Capital Management L.L.C. now owns 315,083 shares of the company’s stock worth $7,354,000 after acquiring an additional 198,083 shares in the last quarter. New York State Common Retirement Fund raised its position in shares of Duckhorn Portfolio by 30.8% in the 1st quarter. New York State Common Retirement Fund now owns 25,461 shares of the company’s stock worth $463,000 after acquiring an additional 5,996 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Duckhorn Portfolio by 26.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,765,210 shares of the company’s stock worth $32,109,000 after acquiring an additional 374,229 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in shares of Duckhorn Portfolio by 176.4% in the 1st quarter. SG Americas Securities LLC now owns 18,531 shares of the company’s stock worth $337,000 after acquiring an additional 11,827 shares in the last quarter. 99.15% of the stock is owned by institutional investors.

Duckhorn Portfolio Company Profile

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The Duckhorn Portfolio, Inc produces and sells wines in North America. It offers wines under a portfolio of brands, including Duckhorn Vineyards, Decoy, Kosta Browne, Goldeneye, Paraduxx, Calera, Migration, Canvasback, Greenwing, and Postmark. The company sells wines to distributors, and directly to retail accounts and consumers.

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Analyst Recommendations for Duckhorn Portfolio (NYSE:NAPA)

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