Shelter Mutual Insurance Co buys $3 Million stake in SunPower Corporation (SPWR)

SunPower Corporation (SPWR) : Shelter Mutual Insurance Co scooped up 107,800 additional shares in SunPower Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 177,800 shares of SunPower Corporation which is valued at $3 Million.SunPower Corporation makes up approximately 0.91% of Shelter Mutual Insurance Co’s portfolio.

Other Hedge Funds, Including , Pictet Asset Management Ltd reduced its stake in SPWR by selling 17,218 shares or 1.05% in the most recent quarter. The Hedge Fund company now holds 1,621,931 shares of SPWR which is valued at $26.9 Million. SunPower Corporation makes up approx 0.11% of Pictet Asset Management Ltd’s portfolio.Summit Securities Group boosted its stake in SPWR in the latest quarter, The investment management firm added 38,787 additional shares and now holds a total of 56,275 shares of SunPower Corporation which is valued at $934,728. SunPower Corporation makes up approx 0.67% of Summit Securities Group’s portfolio.Manufacturers Life Insurance Company The boosted its stake in SPWR in the latest quarter, The investment management firm added 29 additional shares and now holds a total of 3,880 shares of SunPower Corporation which is valued at $64,447.Schroder Investment Management Group boosted its stake in SPWR in the latest quarter, The investment management firm added 329,211 additional shares and now holds a total of 379,511 shares of SunPower Corporation which is valued at $6.3 Million. SunPower Corporation makes up approx 0.01% of Schroder Investment Management Group’s portfolio.

SunPower Corporation opened for trading at $17.16 and hit $17.69 on the upside on Wednesday, eventually ending the session at $17.57, with a gain of 3.11% or 0.53 points. The heightened volatility saw the trading volume jump to 22,43,676 shares. Company has a market cap of $2,425 M.

On the company’s financial health, SunPower Corporation reported $-0.30 EPS for the quarter, missing the analyst consensus estimate by $ -0.07 based on the information available during the earnings call on May 5, 2016. Analyst had a consensus of $-0.23. The company had revenue of $433.60 million for the quarter, compared to analysts expectations of $328.76 million. The company’s revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 EPS.

Many Wall Street Analysts have commented on SunPower Corporation. Shares were Reiterated by Barclays on May 10, 2016 to “Overweight” and Lowered the Price Target to $ 23 from a previous price target of $32 .SunPower Corporation was Initiated by Guggenheim to “Neutral” on Apr 13, 2016. Mizuho Initiated SunPower Corporation on Mar 31, 2016 to “Neutral”, Price Target of the shares are set at $25.

SunPower Corporation (SunPower) is a global energy company. The Company provides design manufacturing installation ongoing maintenance and monitoring and adjacent services. The Company provides solar technology to residential commercial and utility customers worldwide. The Company operates through three segments: the Americas Segment the EMEA Segment and the APAC Segment. The Company offers solar power components solar power systems and residential leases. The Company sells panels and balance of system components primarily to dealers system integrators and distributors. The Company designs manufactures and sells rooftop and ground-mounted solar power systems under construction and development agreements. The Company offers post-installation systems monitoring and maintenance in connection with its construction contracts and commercial power purchase.

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