Verition Fund Management LLC Grows Stock Position in The Duckhorn Portfolio, Inc. (NYSE:NAPA)

Verition Fund Management LLC lifted its stake in The Duckhorn Portfolio, Inc. (NYSE:NAPA) by 21.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,478,234 shares of the company’s stock after buying an additional 265,255 shares during the quarter. Verition Fund Management LLC owned approximately 1.00% of Duckhorn Portfolio worth $8,589,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. DekaBank Deutsche Girozentrale acquired a new stake in shares of Duckhorn Portfolio during the 3rd quarter valued at about $31,000. Simon Quick Advisors LLC acquired a new stake in Duckhorn Portfolio in the second quarter valued at approximately $85,000. Barnett & Company Inc. purchased a new stake in shares of Duckhorn Portfolio in the third quarter valued at approximately $73,000. Canada Pension Plan Investment Board purchased a new stake in shares of Duckhorn Portfolio in the second quarter valued at approximately $101,000. Finally, Intech Investment Management LLC acquired a new position in shares of Duckhorn Portfolio during the 3rd quarter worth approximately $86,000.

Duckhorn Portfolio Trading Up 0.2 %

Shares of NAPA opened at $11.00 on Monday. The Duckhorn Portfolio, Inc. has a 52-week low of $5.38 and a 52-week high of $11.10. The stock has a market cap of $1.62 billion, a PE ratio of 23.40, a price-to-earnings-growth ratio of 9.48 and a beta of 0.02. The firm’s fifty day moving average is $9.92 and its two-hundred day moving average is $8.04. The company has a quick ratio of 1.33, a current ratio of 8.05 and a debt-to-equity ratio of 0.24.

Duckhorn Portfolio (NYSE:NAPA) last posted its quarterly earnings results on Monday, October 7th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.04. The firm had revenue of $107.40 million for the quarter, compared to analyst estimates of $104.76 million. Duckhorn Portfolio had a net margin of 13.81% and a return on equity of 6.24%. Duckhorn Portfolio’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.14 earnings per share. Research analysts forecast that The Duckhorn Portfolio, Inc. will post 0.6 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Royal Bank of Canada cut shares of Duckhorn Portfolio from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from $11.00 to $11.10 in a research note on Friday, October 11th. Barclays boosted their target price 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $9.85.

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.