Prudential Financial Inc. cut its position in shares of Flowers Foods Inc. (NYSE:FLO) by 62.5% during the second quarter, Holdings Channel reports. The firm owned 392,401 shares of the company’s stock after selling 652,920 shares during the period. Prudential Financial Inc. owned about 0.18% of Flowers Foods worth $7,358,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Hancock Holding Co. raised its stake in Flowers Foods by 0.5% in the first quarter. Hancock Holding Co. now owns 448,980 shares of the company’s stock worth $8,288,000 after buying an additional 2,390 shares during the period. Geode Capital Management LLC raised its stake in shares of Flowers Foods by 6.1% in the first quarter. Geode Capital Management LLC now owns 1,122,000 shares of the company’s stock valued at $20,711,000 after buying an additional 64,940 shares during the last quarter. AXA purchased a new stake in shares of Flowers Foods during the first quarter valued at $7,161,000. UBS Group AG raised its stake 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 valued at $6,440,000 after buying an additional 21,441 shares during the last quarter. Finally, State Street Corp raised its stake 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 valued at $90,861,000 after buying an additional 76,579 shares during the last quarter. 69.05% of the stock is currently owned by hedge funds and other institutional investors.
Flowers Foods Inc. (NYSE:FLO) opened at 14.71 on Friday. Flowers Foods Inc. has a 12 month low of $14.35 and a 12 month high of $27.31. The firm has a 50-day moving average price of $15.12 and a 200 day moving average price of $17.54. The company has a market cap of $3.04 billion, a P/E ratio of 16.73 and a beta of 0.77.
Flowers Foods (NYSE:FLO) last released its quarterly earnings data on Wednesday, August 10th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.26. The firm had revenue of $935 million for the quarter, compared to analyst estimates of $948.98 million. Flowers Foods had a return on equity of 16.39% and a net margin of 4.80%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.25 earnings per share. On average, equities analysts expect that Flowers Foods Inc. will post $0.91 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, September 2nd were given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 4.35%. The ex-dividend date of this dividend was Wednesday, August 31st. Flowers Foods’s payout ratio is 72.73%.
Several analysts have recently weighed in on the company. Zacks Investment Research lowered Flowers Foods from a “hold” rating to a “sell” rating in a report on Monday, July 25th. Pivotal Research decreased their price objective on Flowers Foods from $8.00 to $4.00 and set a “sell” rating on the stock in a report on Wednesday, August 10th. Deutsche Bank AG set a $19.00 price objective on Flowers Foods and gave the stock a “hold” rating in a report on Friday, August 5th. Jefferies Group decreased their price objective on Flowers Foods from $23.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, August 11th. Finally, TheStreet lowered Flowers Foods from a “buy” rating to a “hold” rating in a report on Monday, August 22nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. Flowers Foods currently has an average rating of “Hold” and a consensus price target of $17.78.
In other news, Director Richard Lan bought 14,000 shares of the firm’s stock in a transaction dated Monday, August 22nd. The shares were bought at an average price of $15.18 per share, with a total value of $212,520.00. Following the completion of the transaction, the director now owns 27,763 shares of the company’s stock, valued at $421,442.34. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Margaret G. Lewis bought 1,800 shares of the firm’s stock in a transaction dated Tuesday, August 16th. The stock was purchased at an average cost of $15.30 per share, for a total transaction of $27,540.00. Following the transaction, the director now directly owns 13,856 shares of the company’s stock, valued at approximately $211,996.80. The disclosure for this purchase can be found here. 16.87% of the stock is owned by insiders.
Flowers Foods Company Profile
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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