Flowers Foods, Inc. (NYSE:FLO) had its target price raised by BMO Capital Markets from $19.00 to $20.00 in a research note published on Wednesday morning. The firm currently has a market perform rating on the stock.
FLO has been the topic of several other reports. TheStreet downgraded Flowers Foods from a b- rating to a c rating in a research report on Thursday, November 9th. BidaskClub downgraded Flowers Foods from a buy rating to a hold rating in a research report on Thursday, August 3rd. SunTrust Banks, Inc. reaffirmed a hold rating and set a $20.00 price target on shares of Flowers Foods in a research report on Friday, November 10th. Zacks Investment Research raised Flowers Foods from a hold rating to a buy rating and set a $21.00 price target on the stock in a research report on Monday, November 13th. Finally, Pivotal Research raised Flowers Foods from a hold rating to a buy rating and set a $23.00 price target on the stock in a research report on Thursday, November 9th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $21.43.
Shares of Flowers Foods (FLO) traded down $0.38 during mid-day trading on Wednesday, reaching $19.78. The company had a trading volume of 2,060,000 shares, compared to its average volume of 1,230,000. The stock has a market cap of $4,070.00, a price-to-earnings ratio of 22.24, a price-to-earnings-growth ratio of 3.73 and a beta of 1.00. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.28 and a quick ratio of 1.01. Flowers Foods has a one year low of $15.27 and a one year high of $21.00.
Flowers Foods (NYSE:FLO) last issued its earnings results on Wednesday, November 8th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.03. The company had revenue of $932.80 million during the quarter, compared to analyst estimates of $915.55 million. Flowers Foods had a negative return on equity of 11.88% and a negative net margin of 3.60%. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the business posted $0.21 EPS. equities analysts predict that Flowers Foods will post 0.86 earnings per share for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.44%. Flowers Foods’s dividend payout ratio (DPR) is presently 170.00%.
In other news, CEO Allen L. Shiver sold 177,081 shares of the firm’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $19.00, for a total transaction of $3,364,539.00. Following the sale, the chief executive officer now directly owns 978,353 shares in the company, valued at approximately $18,588,707. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brad K. Alexander sold 81,000 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $19.07, for a total value of $1,544,670.00. Following the sale, the insider now owns 245,412 shares in the company, valued at $4,680,006.84. The disclosure for this sale can be found here. Insiders have sold a total of 356,816 shares of company stock worth $6,728,130 over the last 90 days. Insiders own 15.81% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. California Public Employees Retirement System boosted its holdings in Flowers Foods by 1.7% in the 3rd quarter. California Public Employees Retirement System now owns 509,155 shares of the company’s stock worth $9,577,000 after buying an additional 8,586 shares during the last quarter. Janney Capital Management LLC acquired a new stake in Flowers Foods in the 3rd quarter worth about $413,000. Vident Investment Advisory LLC acquired a new stake in Flowers Foods in the 3rd quarter worth about $367,000. Dimensional Fund Advisors LP boosted its holdings in Flowers Foods by 16.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,387,499 shares of the company’s stock worth $44,908,000 after buying an additional 333,384 shares during the last quarter. Finally, BB&T Securities LLC acquired a new stake in Flowers Foods in the 3rd quarter worth about $192,000. Institutional investors own 68.69% of the company’s stock.
Flowers Foods Company Profile
Flowers Foods, Inc is a producer and marketer of packaged bakery products. The Company operates in two segments: direct-store-delivery segment (DSD Segment) and warehouse delivery segment (Warehouse Segment). The DSD segment produces fresh breads, buns, rolls, tortillas and snack cakes sold primarily by a network of independent distributors to retail and foodservice customers in the areas of the United States: East, South, Southwest, California, and select markets in the Midwest, Pacific Northwest, Nevada, and Colorado.
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