Shares of Flowers Foods, Inc. (NYSE:FLO) have been given a consensus recommendation of “Buy” by the ten brokerages that are presently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $21.43.
FLO has been the topic of a number of analyst reports. BidaskClub upgraded shares of Flowers Foods from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 23rd. Zacks Investment Research upgraded shares of 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. BMO Capital Markets boosted their price target on shares of Flowers Foods from $19.00 to $20.00 and gave the company a “market perform” rating in a research report on Wednesday, November 15th. TheStreet cut shares of Flowers Foods from a “b-” rating to a “c” rating in a research report on Thursday, November 9th. Finally, Jefferies Group reiterated a “hold” rating and set a $19.00 price target on shares of Flowers Foods in a research report on Thursday, August 31st.
Flowers Foods (FLO) traded down $0.46 during mid-day trading on Thursday, hitting $19.72. 995,210 shares of the company’s stock were exchanged, compared to its average volume of 1,365,339. Flowers Foods has a 12-month low of $16.80 and a 12-month high of $21.00. The stock has a market capitalization of $4,246.69, a PE ratio of 23.02, a price-to-earnings-growth ratio of 3.85 and a beta of 1.04. 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 (NYSE:FLO) last released its quarterly earnings data on Wednesday, November 8th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. Flowers Foods had a net margin of 2.16% and a return on equity of 15.16%. The firm had revenue of $932.80 million for the quarter, compared to analysts’ expectations of $915.55 million. During the same quarter in the previous year, the company earned $0.21 earnings per share. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. research analysts expect that Flowers Foods will post 0.86 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 3.45%. The ex-dividend date is Thursday, November 30th. Flowers Foods’s dividend payout ratio is currently 170.00%.
In related news, CEO Allen L. Shiver sold 177,081 shares of the business’s stock in a transaction dated Monday, November 13th. The shares were 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 owns 978,353 shares of the company’s stock, valued at $18,588,707. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert L. Benton, Jr. sold 15,000 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $18.87, for a total transaction of $283,050.00. Following the sale, the insider now directly owns 81,677 shares in the company, valued at approximately $1,541,244.99. The disclosure for this sale can be found here. Insiders have sold 509,689 shares of company stock worth $9,743,948 in the last quarter. 15.81% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of the stock. Wellington Shields Capital Management LLC boosted its stake in Flowers Foods by 106.7% during the third quarter. Wellington Shields Capital Management LLC now owns 14,794,716 shares of the company’s stock worth $278,289,000 after acquiring an additional 7,638,437 shares in the last quarter. State Street Corp lifted its stake in shares of Flowers Foods by 1.1% in the second quarter. State Street Corp now owns 4,781,357 shares of the company’s stock worth $82,762,000 after buying an additional 53,592 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Flowers Foods by 5.7% in the second quarter. Bank of New York Mellon Corp now owns 4,216,755 shares of the company’s stock worth $72,992,000 after buying an additional 226,529 shares in the last quarter. Hamlin Capital Management LLC lifted its stake in shares of Flowers Foods by 15.8% in the third quarter. Hamlin Capital Management LLC now owns 3,860,784 shares of the company’s stock worth $72,621,000 after buying an additional 525,394 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Flowers Foods by 16.2% in the third 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 in the last quarter. 66.44% of the stock is currently owned by institutional investors and hedge funds.
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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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