Geode Capital Management LLC Decreases Stake in The Duckhorn Portfolio, Inc. (NYSE:NAPA)

Geode Capital Management LLC lessened its stake in The Duckhorn Portfolio, Inc. (NYSE:NAPA) by 2.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,168,545 shares of the company’s stock after selling 32,889 shares during the quarter. Geode Capital Management LLC’s holdings in Duckhorn Portfolio were worth $6,790,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NAPA. Massachusetts Financial Services Co. MA raised its holdings in Duckhorn Portfolio by 2.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,831,391 shares of the company’s stock worth $27,203,000 after purchasing an additional 98,038 shares during the last quarter. Westwood Holdings Group Inc. increased its position in shares of Duckhorn Portfolio by 4.0% in the second quarter. Westwood Holdings Group Inc. now owns 3,663,304 shares of the company’s stock valued at $26,009,000 after buying an additional 140,113 shares in the last quarter. River Road Asset Management LLC increased its position in shares of Duckhorn Portfolio by 6.1% in the third quarter. River Road Asset Management LLC now owns 3,312,046 shares of the company’s stock valued at $19,243,000 after buying an additional 190,498 shares in the last quarter. Verition Fund Management LLC raised its stake in shares of Duckhorn Portfolio by 21.9% during the 3rd quarter. Verition Fund Management LLC now owns 1,478,234 shares of the company’s stock worth $8,589,000 after buying an additional 265,255 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Duckhorn Portfolio by 0.9% in the 3rd quarter. State Street Corp now owns 1,132,720 shares of the company’s stock worth $6,581,000 after buying an additional 10,122 shares in the last quarter.

Analysts Set New Price Targets

Several research firms have weighed in on NAPA. Royal Bank of Canada downgraded shares of Duckhorn Portfolio from an “outperform” rating to a “sector perform” rating and raised their target price for the company from $11.00 to $11.10 in a report on Friday, October 11th. Barclays raised their price objective on shares of Duckhorn Portfolio from $6.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 8th. Finally, Jefferies Financial Group lowered Duckhorn Portfolio from a “buy” rating to a “hold” rating and set a $11.00 target price on the stock. in a research note on Friday, December 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $10.01.

Duckhorn Portfolio Stock Performance

Shares of NYSE NAPA opened at $11.09 on Friday. The company has a 50-day simple moving average of $11.04 and a 200-day simple moving average of $8.60. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.73 and a quick ratio of 0.61. The company has a market cap of $1.63 billion, a PE ratio of 26.40, a price-to-earnings-growth ratio of 11.35 and a beta of 0.03. The Duckhorn Portfolio, Inc. has a 12 month low of $5.38 and a 12 month high of $11.11.

Duckhorn Portfolio (NYSE:NAPA) last released its earnings results on Monday, October 7th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.10 by $0.04. Duckhorn Portfolio had a net margin of 12.12% and a return on equity of 6.30%. The firm had revenue of $107.40 million during the quarter, compared to analysts’ expectations of $104.76 million. During the same period in the previous year, the company earned $0.14 EPS. Duckhorn Portfolio’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, equities analysts anticipate that The Duckhorn Portfolio, Inc. will post 0.6 earnings per share for the current year.

About Duckhorn Portfolio

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