Ameriprise Financial Inc. reduced its stake in shares of Flowers Foods Inc. (NYSE:FLO) by 11.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 536,465 shares of the company’s stock after selling 72,413 shares during the period. Ameriprise Financial Inc. owned approximately 0.25% of Flowers Foods worth $10,058,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of the stock. UBS Group AG increased its position in shares of Flowers Foods by 6.5% in the first quarter. UBS Group AG now owns 348,889 shares of the company’s stock worth $6,440,000 after buying an additional 21,441 shares during the period. State Street Corp increased its position in shares of 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 period. Zebra Capital Management LLC increased its position in shares of Flowers Foods by 67.1% in the first quarter. Zebra Capital Management LLC now owns 63,410 shares of the company’s stock worth $1,171,000 after buying an additional 25,467 shares during the period. OMERS ADMINISTRATION Corp increased its position in shares of Flowers Foods by 956.8% in the first quarter. OMERS ADMINISTRATION Corp now owns 239,900 shares of the company’s stock worth $4,429,000 after buying an additional 217,200 shares during the period. Finally, Credit Agricole S A purchased a new position in shares of Flowers Foods during the first quarter worth $1,308,000. 69.05% of the stock is currently owned by institutional investors.
Shares of Flowers Foods Inc. (NYSE:FLO) traded up 0.13% during mid-day trading on Friday, reaching $15.12. 2,303,402 shares of the company traded hands. Flowers Foods Inc. has a 52 week low of $14.35 and a 52 week high of $27.31. The stock’s 50-day moving average is $15.18 and its 200-day moving average is $17.67. The company has a market capitalization of $3.13 billion, a P/E ratio of 17.20 and a beta of 0.68.
Flowers Foods (NYSE:FLO) last issued its earnings results on Wednesday, August 10th. The company reported $0.26 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.26. The business had revenue of $935 million for the quarter, compared to the consensus estimate of $948.98 million. Flowers Foods had a net margin of 4.80% and a return on equity of 16.39%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.25 earnings per share. On average, equities analysts predict that Flowers Foods Inc. will post $0.91 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, September 2nd were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 4.23%. The ex-dividend date was Wednesday, August 31st. Flowers Foods’s payout ratio is 72.73%.
A number of research analysts have weighed in on the stock. TheStreet downgraded shares of Flowers Foods from a “buy” rating to a “hold” rating in a research report on Monday, August 22nd. Jefferies Group decreased their price objective on shares of Flowers Foods from $23.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, August 11th. Zacks Investment Research downgraded shares of Flowers Foods from a “hold” rating to a “strong sell” rating in a research report on Friday, August 12th. Deutsche Bank AG set a $19.00 price objective on shares of Flowers Foods and gave the stock a “hold” rating in a research report on Friday, August 5th. Finally, Pivotal Research restated a “sell” rating and set a $4.00 price target on shares of Flowers Foods in a research report on Thursday, September 1st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $18.00.
In other news, Director Margaret G. Lewis bought 1,800 shares of the stock in a transaction dated Tuesday, August 16th. The shares were acquired at an average price of $15.30 per share, with a total value of $27,540.00. Following the completion of the acquisition, the director now directly owns 13,856 shares in the company, valued at $211,996.80. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Richard Lan bought 14,000 shares of the stock in a transaction dated Monday, August 22nd. The stock was purchased at an average cost of $15.18 per share, for a total transaction of $212,520.00. Following the acquisition, the director now owns 27,763 shares of the company’s stock, valued at $421,442.34. The disclosure for this purchase can be found here. 16.87% of the stock is currently owned by insiders.
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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