Several other brokerages have also issued reports on FLO. Jefferies Group dropped their target price 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. Pivotal Research dropped their target price 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. Zacks Investment Research upgraded Flowers Foods from a sell rating to a hold rating in a research report on Monday, August 1st. Deutsche Bank AG set a $19.00 target price on Flowers Foods and gave the company a hold rating in a research report on Friday, August 5th. Finally, TheStreet lowered 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 issued a hold rating and two have assigned a buy rating to the company’s stock. Flowers Foods presently has a consensus rating of Hold and an average price target of $17.78.
Flowers Foods (NYSE:FLO) opened at 14.71 on Wednesday. The company has a market cap of $3.04 billion, a price-to-earnings ratio of 16.73 and a beta of 0.77. The company’s 50-day moving average price is $15.12 and its 200-day moving average price is $17.54. Flowers Foods has a 52-week low of $14.35 and a 52-week high of $27.31.
Flowers Foods (NYSE:FLO) last announced its earnings results on Wednesday, August 10th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.26. Flowers Foods had a return on equity of 16.39% and a net margin of 4.80%. The business earned $935 million during the quarter, compared to analyst estimates of $948.98 million. During the same quarter in the previous year, the business earned $0.25 earnings per share. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. Equities research analysts expect that Flowers Foods will post $0.91 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, September 2nd were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $0.64 dividend on an annualized basis and a yield of 4.35%. Flowers Foods’s dividend payout ratio is currently 72.73%.
In other Flowers Foods news, insider George E. Deese sold 462,500 shares of the company’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $15.14, for a total transaction of $7,002,250.00. Following the completion of the sale, the insider now owns 3,288,625 shares in the company, valued at $49,789,782.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Richard Lan purchased 14,000 shares of Flowers Foods stock in a transaction dated Monday, August 22nd. The shares were acquired at an average cost of $15.18 per share, for a total transaction of $212,520.00. Following the completion of the transaction, the director now owns 27,763 shares of the company’s stock, valued at approximately $421,442.34. The disclosure for this purchase can be found here. Company insiders own 16.87% of the company’s stock.
Several institutional investors have recently modified their holdings of FLO. Vanguard Group Inc. increased its position in shares of 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 increased its position in shares of 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. increased its position in shares of 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. acquired a new position in shares of Flowers Foods during the second quarter worth about $94,985,000. Finally, 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 last quarter. 69.03% of the stock is currently owned by institutional investors and hedge funds.
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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