Flowers Foods Inc. (NYSE:FLO) – Equities research analysts at SunTrust Banks decreased their Q4 2016 earnings per share estimates for shares of Flowers Foods in a research report issued to clients and investors on Monday. SunTrust Banks analyst W. Chappell now forecasts that the firm will earn $0.14 per share for the quarter, down from their prior estimate of $0.15. SunTrust Banks also issued estimates for Flowers Foods’ Q2 2017 earnings at $0.26 EPS, Q3 2017 earnings at $0.22 EPS, Q4 2017 earnings at $0.15 EPS, FY2017 earnings at $0.93 EPS and FY2018 earnings at $1.01 EPS.
Flowers Foods (NYSE:FLO) last issued its quarterly earnings results on Wednesday, August 10th. The company reported $0.26 EPS for the quarter, hitting analysts’ consensus estimates of $0.26. The business earned $935 million during the quarter, compared to analysts’ expectations of $948.98 million. Flowers Foods had a return on equity of 16.39% and a net margin of 4.80%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.25 earnings per share.
Other analysts have also recently issued research reports about the company. Jefferies Group lowered their price objective on Flowers Foods from $23.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, August 11th. TheStreet cut Flowers Foods from a “buy” rating to a “hold” rating in a research report on Monday, August 22nd. Deutsche Bank AG reissued a “hold” rating and issued a $19.00 price objective on shares of Flowers Foods in a research report on Saturday, August 13th. Zacks Investment Research raised Flowers Foods from a “sell” rating to a “hold” rating in a research report on Monday, August 1st. Finally, Pivotal Research lowered their price objective on Flowers Foods from $8.00 to $4.00 and set a “sell” rating for the company in a research report on Wednesday, August 10th. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $18.00.
Shares of Flowers Foods (NYSE:FLO) traded up 0.26% during mid-day trading on Wednesday, reaching $15.17. The company’s stock had a trading volume of 869,820 shares. The firm’s 50-day moving average price is $15.27 and its 200 day moving average price is $17.73. Flowers Foods has a 12-month low of $14.35 and a 12-month high of $27.31. The firm has a market cap of $3.14 billion, a P/E ratio of 17.26 and a beta of 0.68.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, September 2nd were paid a dividend of $0.16 per share. The ex-dividend date was Wednesday, August 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.23%. Flowers Foods’s payout ratio is currently 72.73%.
In other Flowers Foods news, SVP Robert L. Benton, Jr. sold 12,065 shares of Flowers Foods stock in a transaction dated Thursday, June 30th. The stock was sold at an average price of $18.49, for a total transaction of $223,081.85. Following the completion of the transaction, the senior vice president now owns 65,610 shares in the company, valued at approximately $1,213,128.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider George E. Deese sold 462,500 shares of Flowers Foods stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $15.14, for a total value of $7,002,250.00. Following the transaction, the insider now owns 3,288,625 shares of the company’s stock, valued at approximately $49,789,782.50. The disclosure for this sale can be found here. Company insiders own 16.87% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in FLO. Vanguard Group Inc. raised its position in Flowers Foods by 4.3% in the second quarter. Vanguard Group Inc. now owns 15,262,447 shares of the company’s stock worth $286,171,000 after buying an additional 627,379 shares during the last quarter. BlackRock Fund Advisors raised its position in Flowers Foods by 2.6% in the second quarter. BlackRock Fund Advisors now owns 6,473,027 shares of the company’s stock worth $121,369,000 after buying an additional 161,456 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in Flowers Foods by 4.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 5,485,227 shares of the company’s stock worth $102,848,000 after buying an additional 217,116 shares during the last quarter. American Century Companies Inc. bought a new position in Flowers Foods during the second quarter worth $94,985,000. Finally, State Street Corp raised its position in Flowers Foods by 1.6% in the first quarter. State Street Corp now owns 4,922,237 shares of the company’s stock worth $90,861,000 after buying an additional 76,579 shares during the last quarter. Institutional investors and hedge funds own 69.05% of the company’s stock.
About Flowers Foods
Flowers Foods, Inc is a producer and marketer of bakery products. The Company operates in two segments: direct-store-delivery segment (DSD Segment) and warehouse delivery segment (Warehouse Segment). The DSD segment’s production plant locations include Birmingham, Alabama; Opelika, Alabama; Tuscaloosa, Alabama; Goldsboro, North Carolina; Jamestown, North Carolina, and Oxford, Pennsylvania.
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