Bank of America Reiterates “Buy” Rating for Duckhorn Portfolio (NYSE:NAPA)

Bank of America reiterated their buy rating on shares of Duckhorn Portfolio (NYSE:NAPAGet Rating) in a research note issued to investors on Thursday morning. The brokerage currently has a $18.00 price objective on the stock, down from their prior price objective of $24.00.

NAPA has been the subject of several other reports. JPMorgan Chase & Co. lowered shares of Duckhorn Portfolio from an overweight rating to a neutral rating and cut their target price for the company from $24.00 to $19.00 in a research note on Thursday, September 15th. Credit Suisse Group reduced their price target on shares of Duckhorn Portfolio from $26.00 to $20.00 and set an outperform rating for the company in a research report on Thursday. Barclays reduced their price target on shares of Duckhorn Portfolio from $21.00 to $19.00 in a research report on Thursday. Evercore ISI reduced their price target on shares of Duckhorn Portfolio to $20.00 in a research report on Tuesday. Finally, Jefferies Financial Group reduced their price target on shares of Duckhorn Portfolio from $28.00 to $23.00 and set a buy rating for the company in a research report on Wednesday, September 14th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $20.50.

Duckhorn Portfolio Stock Down 1.2 %

NAPA stock opened at $14.39 on Thursday. Duckhorn Portfolio has a 12 month low of $14.05 and a 12 month high of $25.25. The firm has a market cap of $1.66 billion, a PE ratio of 26.65, a P/E/G ratio of 2.06 and a beta of -0.29. The firm has a 50 day simple moving average of $18.07 and a 200 day simple moving average of $18.84. The company has a debt-to-equity ratio of 0.26, a current ratio of 6.24 and a quick ratio of 1.02.

Insider Buying and Selling at Duckhorn Portfolio

In other news, major shareholder Mallard Holdco, Llc sold 5,000,000 shares of the stock in a transaction on 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 transaction, the insider now owns 69,150,301 shares in the company, valued at approximately $1,331,143,294.25. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Zach Rasmuson sold 25,000 shares of the stock in a transaction on Friday, July 1st. The shares were sold at an average price of $20.18, for a total transaction of $504,500.00. Following the transaction, the insider now owns 422,685 shares in the company, valued at approximately $8,529,783.30. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Mallard Holdco, Llc sold 5,000,000 shares of the 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 transaction, the insider now owns 69,150,301 shares in the company, valued at approximately $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 Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Amalgamated Bank acquired a new position in Duckhorn Portfolio in the 1st quarter valued at $97,000. Nkcfo LLC acquired a new position in Duckhorn Portfolio in the 2nd quarter valued at $99,000. Lazard Asset Management LLC acquired a new position in Duckhorn Portfolio in the 2nd quarter valued at $100,000. Quantbot Technologies LP acquired a new position in Duckhorn Portfolio in the 1st quarter valued at $185,000. Finally, Toroso Investments LLC grew its stake in Duckhorn Portfolio by 23.2% in the 1st quarter. Toroso Investments LLC now owns 11,646 shares of the company’s stock valued at $212,000 after buying an additional 2,191 shares during the last quarter. 99.15% of the stock is currently owned by institutional investors and hedge funds.

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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