State Treasurer State of Michigan lessened its stake in Flowers Foods, Inc. (NYSE:FLO) by 4.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 66,350 shares of the company’s stock after selling 2,900 shares during the quarter. State Treasurer State of Michigan’s holdings in Flowers Foods were worth $1,281,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the stock. Ffcm LLC raised its holdings in Flowers Foods by 1,298.6% during the 3rd quarter. Ffcm LLC now owns 6,965 shares of the company’s stock valued at $131,000 after acquiring an additional 6,467 shares during the period. BB&T Securities LLC bought a new stake in Flowers Foods during the 3rd quarter valued at $192,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Flowers Foods by 48.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,976 shares of the company’s stock valued at $193,000 after acquiring an additional 3,266 shares during the period. Fox Run Management L.L.C. bought a new stake in Flowers Foods during the 4th quarter valued at $195,000. Finally, Round Table Services LLC bought a new stake in Flowers Foods during the 3rd quarter valued at $208,000. 66.44% of the stock is currently owned by institutional investors.
FLO has been the topic of a number of analyst reports. Pivotal Research reissued a “buy” rating and set a $26.00 target price (up previously from $23.00) on shares of Flowers Foods in a report on Friday, January 12th. TheStreet cut shares of Flowers Foods from a “b-” rating to a “c” rating in a report on Thursday, November 9th. Zacks Investment Research cut shares of Flowers Foods from a “strong-buy” rating to a “hold” rating in a report on Friday, January 12th. SunTrust Banks reissued a “hold” rating and set a $20.00 target price on shares of Flowers Foods in a report on Friday, November 10th. Finally, BMO Capital Markets boosted their target price on shares of Flowers Foods from $19.00 to $20.00 and gave the company a “market perform” rating in a report on Wednesday, November 15th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $21.00.
Flowers Foods, Inc. (NYSE:FLO) opened at $21.35 on Friday. The company has a market cap of $4,382.94, a price-to-earnings ratio of 23.49, a PEG ratio of 3.20 and a beta of 0.91. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.67. Flowers Foods, Inc. has a 1 year low of $16.80 and a 1 year high of $21.46.
Flowers Foods (NYSE:FLO) last released its quarterly earnings results on Wednesday, February 7th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. The firm had revenue of $873.60 million during the quarter, compared to analyst estimates of $860.34 million. Flowers Foods had a net margin of 3.83% and a return on equity of 15.17%. The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the business earned $0.16 EPS. sell-side analysts anticipate that Flowers Foods, Inc. will post 1.07 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Friday, March 2nd 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 3.19%. Flowers Foods’s dividend payout ratio (DPR) is currently 95.77%.
In other news, CFO R Steve Kinsey sold 116,067 shares of the business’s stock in a transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephen R. Avera sold 68,908 shares of the business’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $19.33, for a total transaction of $1,331,991.64. Following the transaction, the insider now owns 553,989 shares of the company’s stock, valued at $10,708,607.37. The disclosure for this sale can be found here. Insiders have sold a total of 189,935 shares of company stock valued at $3,679,598 over the last 90 days. Company insiders own 15.81% of the company’s stock.
About Flowers Foods
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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