Flowers Foods, Inc. (NYSE:FLO) was downgraded by investment analysts at TheStreet from a “b” rating to a “c+” rating in a report released on Tuesday.
Several other brokerages have also issued reports on FLO. Zacks Investment Research raised Flowers Foods from a “sell” rating to a “hold” rating in a research report on Monday. Wunderlich assumed coverage on Flowers Foods in a research report on Friday, January 13th. They set a “buy” rating and a $24.00 target price on the stock. Jefferies Group LLC reaffirmed a “buy” rating and set a $20.00 target price on shares of Flowers Foods in a research report on Tuesday, December 13th. BMO Capital Markets reaffirmed a “market perform” rating and set a $19.00 target price (up from $17.00) on shares of Flowers Foods in a research report on Tuesday, December 13th. Finally, KeyCorp raised Flowers Foods from a “sector weight” rating to an “overweight” rating and set a $23.00 target price on the stock in a research report on Thursday, December 15th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Flowers Foods has an average rating of “Hold” and a consensus target price of $19.88.
Flowers Foods (NYSE:FLO) traded up 0.57% on Tuesday, hitting $19.52. The stock had a trading volume of 1,079,189 shares. Flowers Foods has a 12 month low of $14.35 and a 12 month high of $21.00. The stock has a market cap of $4.09 billion, a P/E ratio of 25.06 and a beta of 0.87. The company’s 50 day moving average is $19.94 and its 200-day moving average is $16.99.
Flowers Foods (NYSE:FLO) last announced its earnings results on Monday, February 13th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by $0.00. Flowers Foods had a net margin of 4.17% and a return on equity of 16.42%. The business had revenue of $868.70 million for the quarter, compared to analyst estimates of $874.19 million. During the same period in the prior year, the company earned $0.16 earnings per share. The company’s quarterly revenue was up 1.2% on a year-over-year basis. Analysts forecast that Flowers Foods will post $0.90 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 17th. Stockholders of record on Friday, March 3rd will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.30%. Flowers Foods’s dividend payout ratio is presently 83.12%.
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In other news, EVP Stephen R. Avera sold 70,845 shares of the stock in a transaction dated Thursday, December 15th. The stock was sold at an average price of $19.50, for a total value of $1,381,477.50. Following the transaction, the executive vice president now directly owns 499,379 shares of the company’s stock, valued at $9,737,890.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO R Steve Kinsey sold 89,902 shares of the stock in a transaction dated Thursday, December 22nd. The shares were sold at an average price of $19.22, for a total value of $1,727,916.44. Following the completion of the transaction, the chief financial officer now directly owns 338,705 shares in the company, valued at $6,509,910.10. The disclosure for this sale can be found here. Insiders sold 182,197 shares of company stock worth $3,481,805 over the last three months. Corporate insiders own 16.87% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in FLO. Synovus Financial Corp raised its position in shares of Flowers Foods by 0.3% in the third quarter. Synovus Financial Corp now owns 36,204 shares of the company’s stock worth $546,000 after buying an additional 103 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Flowers Foods by 0.5% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 27,051 shares of the company’s stock worth $540,000 after buying an additional 124 shares in the last quarter. Lbmc Investment Advisors LLC raised its position 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 in the last quarter. State Treasurer State of Michigan raised its position in shares of Flowers Foods by 0.3% in the third quarter. State Treasurer State of Michigan now owns 73,250 shares of the company’s stock worth $1,108,000 after buying an additional 200 shares in the last quarter. Finally, Wilbanks Smith & Thomas Asset Management LLC raised its position in shares of Flowers Foods by 2.2% in the third quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 12,450 shares of the company’s stock worth $188,000 after buying an additional 270 shares in the last quarter. 67.50% of the stock is currently owned by institutional investors and hedge funds.
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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