The Duckhorn Portfolio (NYSE:NAPA) Posts Quarterly Earnings Results

The Duckhorn Portfolio (NYSE:NAPA) announced its quarterly earnings data on Sunday. The company reported $0.08 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.07, MarketWatch Earnings reports.

The Duckhorn Portfolio stock opened at $23.52 on Tuesday. The business’s 50-day moving average price is $22.04 and its 200 day moving average price is $20.49. The company has a quick ratio of 0.90, a current ratio of 5.10 and a debt-to-equity ratio of 0.32. The Duckhorn Portfolio has a 52 week low of $16.16 and a 52 week high of $24.55.

NAPA has been the topic of a number of recent analyst reports. Citigroup upped their target price on shares of The Duckhorn Portfolio from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Tuesday. Royal Bank of Canada raised their price objective on shares of The Duckhorn Portfolio from $22.00 to $23.00 and gave the stock a “sector perform” rating in a report on Tuesday. Zacks Investment Research cut shares of The Duckhorn Portfolio from a “buy” rating to a “hold” rating in a research report on Friday, August 6th. Credit Suisse Group boosted their price objective on shares of The Duckhorn Portfolio from $23.00 to $25.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, boosted their price objective on shares of The Duckhorn Portfolio from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, June 9th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $23.00.

In related news, insider Alex Ryan sold 17,693 shares of the business’s stock in a transaction on Tuesday, September 14th. The stock was sold at an average price of $22.63, for a total transaction of $400,392.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Zach Rasmuson sold 9,442 shares of The Duckhorn Portfolio stock in a transaction dated Monday, September 27th. The stock was sold at an average price of $22.56, for a total value of $213,011.52. The disclosure for this sale can be found here. Insiders have sold 74,044 shares of company stock worth $1,650,455 in the last quarter.

Institutional investors have recently modified their holdings of the business. Morgan Stanley raised its position in shares of The Duckhorn Portfolio by 382.4% in the 2nd quarter. Morgan Stanley now owns 39,170 shares of the company’s stock worth $864,000 after buying an additional 31,050 shares during the period. Wells Fargo & Company MN lifted its position in shares of The Duckhorn Portfolio by 1,860.3% during the second quarter. Wells Fargo & Company MN now owns 19,603 shares of the company’s stock worth $432,000 after purchasing an additional 18,603 shares during the last quarter. Bank of America Corp DE lifted its holdings in The Duckhorn Portfolio by 1,792.6% in the second quarter. Bank of America Corp DE now owns 9,936 shares of the company’s stock worth $219,000 after acquiring an additional 9,411 shares during the last quarter. Finally, Royal Bank of Canada raised its holdings in shares of The Duckhorn Portfolio by 24.9% during the second quarter. Royal Bank of Canada now owns 4,299 shares of the company’s stock valued at $94,000 after buying an additional 857 shares during the last quarter. 19.81% of the stock is currently owned by institutional investors.

The Duckhorn Portfolio Company Profile

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 its products directly to California retailers and restaurants; and to distributors and agents located in other states throughout the United States, as well as to export distributors that sell internationally.

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