Flowers Foods Inc. (NYSE:FLO) – Equities researchers at DA Davidson issued their Q3 2016 earnings per share estimates for Flowers Foods in a note issued to investors on Tuesday. DA Davidson analyst T. Ramey expects that the brokerage will earn $0.21 per share for the quarter. DA Davidson has a “Neutral” rating and a $16.00 price objective on the stock. DA Davidson also issued estimates for Flowers Foods’ Q4 2016 earnings at $0.17 EPS, FY2016 earnings at $0.92 EPS, Q1 2017 earnings at $0.29 EPS, Q2 2017 earnings at $0.25 EPS, Q3 2017 earnings at $0.22 EPS, Q4 2017 earnings at $0.19 EPS and FY2017 earnings at $0.95 EPS.
Flowers Foods (NYSE:FLO) last announced its quarterly earnings data on Wednesday, August 10th. The company reported $0.26 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.26. The firm 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 company’s revenue was up 5.2% on a year-over-year basis. During the same period last year, the firm earned $0.25 EPS.
Several other analysts also recently weighed in on the stock. Pivotal Research dropped their target price on shares of Flowers Foods from $8.00 to $4.00 and set a “sell” rating on the stock in a research report on Wednesday, August 10th. Deutsche Bank AG reissued a “hold” rating and set a $19.00 target price on shares of Flowers Foods in a research report on Saturday, August 13th. Zacks Investment Research downgraded shares of Flowers Foods from a “hold” rating to a “sell” rating in a research report on Monday, July 25th. Jefferies Group dropped their target price on shares of Flowers Foods from $23.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, August 11th. Finally, TheStreet downgraded shares of Flowers Foods from a “buy” rating to a “hold” rating in a research report on Monday, August 22nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $17.78.
Shares of Flowers Foods (NYSE:FLO) traded down 0.902% during mid-day trading on Thursday, hitting $14.835. 703,035 shares of the stock traded hands. The firm has a 50 day moving average of $15.15 and a 200 day moving average of $17.59. Flowers Foods has a 12 month low of $14.35 and a 12 month high of $27.31. The stock has a market cap of $3.07 billion, a price-to-earnings ratio of 16.877 and a beta of 0.77.
The company also recently declared a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, September 2nd were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date of this dividend was Wednesday, August 31st. Flowers Foods’s dividend payout ratio (DPR) is presently 72.73%.
In related news, insider George E. Deese sold 462,500 shares of the stock in a transaction on Friday, August 26th. The shares were sold at an average price of $15.14, for a total transaction of $7,002,250.00. Following the sale, the insider now directly owns 3,288,625 shares of the company’s stock, valued at $49,789,782.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Amos R. Mcmullian purchased 30,000 shares of the stock in a transaction that occurred on Thursday, August 25th. The shares were purchased at an average cost of $14.99 per share, for a total transaction of $449,700.00. Following the completion of the acquisition, the chairman now directly owns 3,650,940 shares of the company’s stock, valued at approximately $54,727,590.60. The disclosure for this purchase can be found here. Corporate insiders own 16.87% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the company. Lbmc Investment Advisors LLC increased its stake in shares of Flowers Foods by 0.9% in the second quarter. Lbmc Investment Advisors LLC now owns 16,621 shares of the company’s stock worth $312,000 after buying an additional 149 shares during the period. American Research & Management Co. boosted its position in Flowers Foods by 1.8% in the second quarter. American Research & Management Co. now owns 11,201 shares of the company’s stock worth $210,000 after buying an additional 200 shares in the last quarter. Utah Retirement Systems boosted its position in Flowers Foods by 1.3% in the second quarter. Utah Retirement Systems now owns 31,509 shares of the company’s stock worth $590,000 after buying an additional 400 shares in the last quarter. IFP Advisors Inc boosted its position in Flowers Foods by 4.2% in the first quarter. IFP Advisors Inc now owns 10,252 shares of the company’s stock worth $189,000 after buying an additional 409 shares in the last quarter. Finally, Hyman Charles D boosted its position in Flowers Foods by 1.3% in the second quarter. Hyman Charles D now owns 35,972 shares of the company’s stock worth $674,000 after buying an additional 454 shares in the last quarter. 69.05% of the stock is currently owned by hedge funds and other institutional investors.
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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