Duckhorn Portfolio (NYSE:NAPA) Shares Gap Down Following Analyst Downgrade

The Duckhorn Portfolio, Inc. (NYSE:NAPAGet Rating)’s share price gapped down prior to trading on Thursday after JPMorgan Chase & Co. downgraded the stock from an overweight rating to a neutral rating. The stock had previously closed at $16.86, but opened at $16.09. JPMorgan Chase & Co. now has a $19.00 price target on the stock, down from their previous price target of $24.00. Duckhorn Portfolio shares last traded at $15.74, with a volume of 6,962 shares changing hands.

A number of other equities analysts have also issued reports on NAPA. 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. Citigroup reduced their price target on shares of Duckhorn Portfolio from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Tuesday, August 2nd. Finally, Barclays raised their price target on shares of Duckhorn Portfolio from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Monday, June 6th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $23.25.

Insider Activity

In related news, insider Zach Rasmuson sold 25,000 shares of Duckhorn Portfolio stock in a transaction on 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 owns 422,685 shares of the company’s stock, valued at approximately $8,529,783.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, major shareholder Mallard Holdco, Llc sold 5,000,000 shares of Duckhorn Portfolio stock in a transaction on 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 sale, the insider now owns 69,150,301 shares of the company’s stock, valued at approximately $1,331,143,294.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Zach Rasmuson sold 25,000 shares of Duckhorn Portfolio 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 completion of the sale, the insider now directly owns 422,685 shares in the company, valued at approximately $8,529,783.30. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Duckhorn Portfolio

A number of institutional investors have recently added to or reduced their stakes in NAPA. Select Equity Group L.P. boosted its stake in Duckhorn Portfolio by 5.2% during the 1st quarter. Select Equity Group L.P. now owns 6,566,913 shares of the company’s stock worth $119,452,000 after purchasing an additional 325,907 shares during the last quarter. Vanguard Group Inc. boosted its stake in Duckhorn Portfolio by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 3,458,959 shares of the company’s stock worth $62,918,000 after purchasing an additional 107,700 shares during the last quarter. Driehaus Capital Management LLC boosted its stake in Duckhorn Portfolio by 11.1% during the 2nd quarter. Driehaus Capital Management LLC now owns 2,416,568 shares of the company’s stock worth $50,893,000 after purchasing an additional 240,610 shares during the last quarter. BlackRock Inc. boosted its stake in Duckhorn Portfolio by 3.1% during the 1st quarter. BlackRock Inc. now owns 2,287,931 shares of the company’s stock worth $41,618,000 after purchasing an additional 69,305 shares during the last quarter. Finally, Federated Hermes Inc. boosted its stake in Duckhorn Portfolio by 7.5% during the 1st quarter. Federated Hermes Inc. now owns 2,279,202 shares of the company’s stock worth $41,458,000 after purchasing an additional 159,389 shares during the last quarter. Institutional investors and hedge funds own 99.15% of the company’s stock.

Duckhorn Portfolio Stock Performance

The firm’s 50-day moving average price is $18.48 and its two-hundred day moving average price is $18.99. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.02 and a current ratio of 6.24. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of 27.91, a PEG ratio of 2.23 and a beta of -0.29.

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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