Measured Risk Portfolios Inc. lifted its stake in Flowers Foods, Inc. (NYSE:FLO – Free Report) by 457.1% in the first quarter, HoldingsChannel.com reports. The fund owned 213,007 shares of the company’s stock after purchasing an additional 174,771 shares during the period. Flowers Foods accounts for 1.9% of Measured Risk Portfolios Inc.’s holdings, making the stock its 28th biggest position. Measured Risk Portfolios Inc.’s holdings in Flowers Foods were worth $1,736,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. WealthCollab LLC boosted its holdings in Flowers Foods by 1,623.7% in the fourth quarter. WealthCollab LLC now owns 2,327 shares of the company’s stock worth $25,000 after purchasing an additional 2,192 shares during the last quarter. Wilmington Savings Fund Society FSB grew its position in Flowers Foods by 225.6% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 2,400 shares of the company’s stock worth $31,000 after purchasing an additional 1,663 shares during the period. Farther Finance Advisors LLC raised its stake in Flowers Foods by 176.1% during the 4th quarter. Farther Finance Advisors LLC now owns 3,070 shares of the company’s stock valued at $33,000 after buying an additional 1,958 shares during the last quarter. Fifth Third Bancorp raised its stake in Flowers Foods by 151.2% during the 4th quarter. Fifth Third Bancorp now owns 3,050 shares of the company’s stock valued at $33,000 after buying an additional 1,836 shares during the last quarter. Finally, IFP Advisors Inc lifted its holdings in shares of Flowers Foods by 140.7% during the 4th quarter. IFP Advisors Inc now owns 3,025 shares of the company’s stock valued at $33,000 after buying an additional 1,768 shares during the period. 75.45% of the stock is owned by hedge funds and other institutional investors.
Flowers Foods Price Performance
Shares of Flowers Foods stock opened at $7.65 on Tuesday. The stock has a market cap of $1.62 billion, a P/E ratio of 21.85 and a beta of 0.39. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.57 and a current ratio of 0.77. The stock’s fifty day moving average is $7.89 and its 200 day moving average is $8.89. Flowers Foods, Inc. has a one year low of $6.80 and a one year high of $16.85.
Flowers Foods Cuts Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date of this dividend was Friday, June 12th. Flowers Foods’s payout ratio is presently 142.86%.
Insider Activity
In related news, CFO Diego Anthony Scaglione acquired 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The stock was bought at an average cost of $7.51 per share, for a total transaction of $37,550.00. Following the purchase, the chief financial officer owned 194,180 shares in the company, valued at $1,458,291.80. The trade was a 2.64% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 7.23% of the company’s stock.
Analyst Ratings Changes
FLO has been the topic of a number of research reports. Stephens dropped their price target on Flowers Foods from $11.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Monday, May 18th. Deutsche Bank Aktiengesellschaft reduced their price objective on Flowers Foods from $11.00 to $7.00 and set a “hold” rating for the company in a research report on Monday, March 30th. Weiss Ratings downgraded Flowers Foods from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, May 4th. Zacks Research raised Flowers Foods from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 21st. Finally, BNP Paribas Exane cut their price target on Flowers Foods from $10.00 to $8.00 and set an “underperform” rating for the company in a research note on Thursday, April 9th. Five equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $9.60.
Check Out Our Latest Stock Report on Flowers Foods
About Flowers Foods
Flowers Foods, Inc is one of the largest producers of packaged bakery foods in the United States, offering a variety of fresh bread, buns, rolls, snack cakes and tortillas. Headquartered in Thomasville, Georgia, the company operates an extensive network of bakeries and distribution centers that serve retail grocery chains, convenience stores, mass merchandisers and foodservice customers nationwide. Flowers Foods markets its products under well-known brands such as Nature’s Own, Wonder, Dave’s Killer Bread, Mrs.
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