Commonwealth Equity Services Inc grew its stake in shares of Flowers Foods, Inc. (NYSE:FLO) by 4.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 161,806 shares of the company’s stock after purchasing an additional 7,099 shares during the period. Commonwealth Equity Services Inc owned approximately 0.08% of Flowers Foods worth $3,043,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in FLO. Teacher Retirement System of Texas increased its stake in shares of Flowers Foods by 3.3% in the second quarter. Teacher Retirement System of Texas now owns 15,051 shares of the company’s stock worth $261,000 after purchasing an additional 480 shares in the last quarter. Botty Investors LLC boosted its position in shares of Flowers Foods by 2.5% during the second quarter. Botty Investors LLC now owns 19,940 shares of the company’s stock worth $345,000 after acquiring an additional 485 shares during the last quarter. Arcus Capital Partners LLC boosted its position in shares of Flowers Foods by 1.0% during the second quarter. Arcus Capital Partners LLC now owns 60,141 shares of the company’s stock worth $1,041,000 after acquiring an additional 575 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Flowers Foods by 10.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,710 shares of the company’s stock valued at $116,000 after purchasing an additional 629 shares during the last quarter. Finally, FCA Corp TX lifted its position in Flowers Foods by 0.9% during the second quarter. FCA Corp TX now owns 77,717 shares of the company’s stock valued at $1,345,000 after purchasing an additional 677 shares during the last quarter. 66.44% of the stock is owned by institutional investors and hedge funds.
Flowers Foods, Inc. (FLO) traded down $0.14 during midday trading on Thursday, reaching $20.20. 861,317 shares of the company’s stock were exchanged, compared to its average volume of 1,365,144. The company has a quick ratio of 1.01, a current ratio of 1.28 and a debt-to-equity ratio of 0.71. The stock has a market cap of $4,188.00, a P/E ratio of 22.70, a price-to-earnings-growth ratio of 3.80 and a beta of 1.04. Flowers Foods, Inc. has a 1-year low of $16.31 and a 1-year high of $21.00.
Flowers Foods (NYSE:FLO) last released its quarterly earnings results on Wednesday, November 8th. The company reported $0.23 earnings per share 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 business had revenue of $932.80 million for the quarter, compared to analysts’ expectations of $915.55 million. During the same period last year, the business earned $0.21 EPS. The company’s revenue was up 1.5% compared to the same quarter last year. equities research analysts expect that Flowers Foods, Inc. will post 0.86 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date is Thursday, November 30th. Flowers Foods’s dividend payout ratio (DPR) is presently 170.00%.
Several research firms have commented on FLO. BidaskClub upgraded shares of Flowers Foods from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. Zacks Investment Research downgraded shares of Flowers Foods from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. BMO Capital Markets reissued a “hold” rating and issued a $19.00 target price on shares of Flowers Foods in a research note on Thursday, November 2nd. SunTrust Banks reissued a “hold” rating and issued a $20.00 target price on shares of Flowers Foods in a research note on Friday, November 10th. Finally, Pivotal Research raised shares of Flowers Foods from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research note on Thursday, November 9th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Flowers Foods currently has a consensus rating of “Buy” and a consensus target price of $21.43.
In other Flowers Foods news, insider Tonja W. Taylor sold 4,960 shares of Flowers Foods stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $19.57, for a total transaction of $97,067.20. Following the completion of the sale, the insider now directly owns 22,055 shares in the company, valued at approximately $431,616.35. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO R Steve Kinsey sold 116,067 shares of Flowers Foods stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $19.39, for a total transaction of $2,250,539.13. The disclosure for this sale can be found here. Insiders sold a total of 509,689 shares of company stock valued at $9,743,948 over the last quarter. 15.81% of the stock is owned by company insiders.
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Flowers Foods 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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