The Duckhorn Portfolio, Inc. (NYSE:NAPA) Sees Large Growth in Short Interest

The Duckhorn Portfolio, Inc. (NYSE:NAPAGet Rating) was the target of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 3,030,000 shares, a growth of 7.8% from the August 15th total of 2,810,000 shares. Based on an average daily trading volume, of 503,700 shares, the short-interest ratio is currently 6.0 days. Currently, 7.1% of the shares of the company are sold short.

Insider Activity

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

Institutional Trading of Duckhorn Portfolio

A number of hedge funds and other institutional investors have recently made changes to their positions in NAPA. Amalgamated Bank bought a new stake in shares of Duckhorn Portfolio in the 1st quarter worth approximately $97,000. Nkcfo LLC purchased a new position in shares of Duckhorn Portfolio in the second quarter worth approximately $99,000. Lazard Asset Management LLC purchased a new position in shares of Duckhorn Portfolio in the second quarter worth approximately $100,000. Quantbot Technologies LP purchased a new position in shares of Duckhorn Portfolio in the first quarter worth approximately $185,000. Finally, Toroso Investments LLC increased its position in shares of Duckhorn Portfolio by 23.2% in the first quarter. Toroso Investments LLC now owns 11,646 shares of the company’s stock worth $212,000 after acquiring an additional 2,191 shares in the last quarter. 99.15% of the stock is currently owned by institutional investors.

Duckhorn Portfolio Stock Up 4.5 %

NYSE NAPA opened at $14.95 on Tuesday. 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 company’s 50 day simple moving average is $18.32 and its 200 day simple moving average is $18.93. Duckhorn Portfolio has a 12 month low of $14.17 and a 12 month high of $25.25. The company has a market capitalization of $1.72 billion, a P/E ratio of 27.69, a PEG ratio of 2.01 and a beta of -0.29.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NAPA. Jefferies Financial Group cut their price objective on shares of Duckhorn Portfolio from $28.00 to $23.00 and set a “buy” rating on the stock in a research report on Wednesday, September 14th. JPMorgan Chase & Co. downgraded shares of Duckhorn Portfolio from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $24.00 to $19.00 in a research report on Thursday, September 15th. Barclays lifted their price objective on shares of Duckhorn Portfolio from $20.00 to $21.00 and gave the company an “equal weight” rating in a research report on Monday, June 6th. Finally, Citigroup dropped their price target on shares of Duckhorn Portfolio from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Tuesday, August 2nd. Two 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.25.

About Duckhorn Portfolio

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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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