Retirement Systems of Alabama decreased its stake in Flowers Foods Inc. (NYSE:FLO) by 72.1% during the second quarter, Holdings Channel reports. The firm owned 234,791 shares of the company’s stock after selling 608,206 shares during the period. Retirement Systems of Alabama’s holdings in Flowers Foods were worth $4,402,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FLO. Invictus RG boosted its stake in shares of Flowers Foods by 57.3% in the first quarter. Invictus RG now owns 7,734 shares of the company’s stock valued at $143,000 after buying an additional 2,817 shares in the last quarter. Breton Hill Capital Ltd. acquired a new stake in shares of Flowers Foods during the second quarter valued at about $199,000. LS Investment Advisors LLC boosted its stake in shares of Flowers Foods by 69.6% in the second quarter. LS Investment Advisors LLC now owns 11,143 shares of the company’s stock valued at $209,000 after buying an additional 4,574 shares in the last quarter. Diversified Trust Co boosted its stake in shares of Flowers Foods by 10.2% in the second quarter. Diversified Trust Co now owns 21,550 shares of the company’s stock valued at $404,000 after buying an additional 2,000 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in shares of Flowers Foods by 49.7% in the second quarter. State of Alaska Department of Revenue now owns 21,891 shares of the company’s stock valued at $410,000 after buying an additional 7,271 shares in the last quarter. Hedge funds and other institutional investors own 69.03% of the company’s stock.
Shares of Flowers Foods Inc. (NYSE:FLO) traded up 2.29% during trading on Friday, hitting $15.20. 1,668,433 shares of the stock traded hands. The company’s 50 day moving average is $15.10 and its 200 day moving average is $17.43. The firm has a market cap of $3.14 billion, a PE ratio of 17.29 and a beta of 0.77. Flowers Foods Inc. 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, hitting analysts’ consensus estimates of $0.26. The company earned $935 million during the quarter, compared to analysts’ expectations of $948.98 million. Flowers Foods had a net margin of 4.80% and a return on equity of 16.39%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.25 earnings per share. On average, equities research analysts predict that Flowers Foods Inc. will post $0.91 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, September 2nd were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date was Wednesday, August 31st. Flowers Foods’s payout ratio is currently 72.73%.
Several analysts recently issued reports on the stock. DA Davidson assumed coverage on shares of Flowers Foods in a research note on Wednesday, October 5th. They set a “neutral” rating and a $16.00 price objective for the company. Pivotal Research reaffirmed a “sell” rating and set a $4.00 price objective on shares of Flowers Foods in a research note on Thursday, September 1st. TheStreet cut shares of Flowers Foods from a “buy” rating to a “hold” rating in a research note on Monday, August 22nd. Deutsche Bank AG reaffirmed a “hold” rating and set a $19.00 price objective on shares of Flowers Foods in a research note on Saturday, August 13th. Finally, Zacks Investment Research cut shares of Flowers Foods from a “hold” rating to a “strong sell” rating in a research note on Friday, August 12th. Two equities 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 company presently has an average rating of “Hold” and a consensus price target of $17.78.
In other Flowers Foods news, Chairman Amos R. Mcmullian bought 30,000 shares of the business’s stock in a transaction on Thursday, August 25th. The stock was bought at an average price of $14.99 per share, for a total transaction of $449,700.00. Following the completion of the transaction, the chairman now owns 3,650,940 shares in the company, valued at approximately $54,727,590.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider George E. Deese sold 462,500 shares of Flowers Foods stock in a transaction dated 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 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.
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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