BlackRock Inc. lifted its holdings in Flowers Foods, Inc. (NYSE:FLO) by 2.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 14,983,444 shares of the company’s stock after purchasing an additional 416,393 shares during the period. BlackRock Inc. owned approximately 0.07% of Flowers Foods worth $289,330,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of the company. Ffcm LLC increased its position in Flowers Foods by 1,298.6% during the third quarter. Ffcm LLC now owns 6,965 shares of the company’s stock worth $131,000 after purchasing an additional 6,467 shares during the last quarter. BB&T Securities LLC acquired a new stake in Flowers Foods during the third quarter worth about $192,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Flowers Foods by 48.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,976 shares of the company’s stock worth $193,000 after purchasing an additional 3,266 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in Flowers Foods during the fourth quarter worth about $195,000. Finally, Breton Hill Capital Ltd. increased its position in Flowers Foods by 26.0% during the third quarter. Breton Hill Capital Ltd. now owns 15,628 shares of the company’s stock worth $294,000 after purchasing an additional 3,228 shares during the last quarter. 62.29% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Flowers Foods from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research report on Monday, February 19th. TheStreet upgraded shares of Flowers Foods from a “c+” rating to a “b” rating in a research report on Wednesday, February 7th. Stephens restated a “hold” rating and set a $20.00 price objective on shares of Flowers Foods in a research report on Friday, February 9th. Pivotal Research cut their price objective on shares of Flowers Foods to $26.00 and set a “buy” rating for the company in a research report on Thursday, February 8th. Finally, BMO Capital Markets raised their price objective on shares of Flowers Foods from $19.00 to $20.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 15th. Four analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $21.33.
Shares of Flowers Foods, Inc. (NYSE:FLO) opened at $21.44 on Friday. Flowers Foods, Inc. has a 12-month low of $16.80 and a 12-month high of $21.46. The firm has a market cap of $4,560.00, a PE ratio of 44.67, a price-to-earnings-growth ratio of 3.24 and a beta of 0.81. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 1.29.
Flowers Foods (NYSE:FLO) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. Flowers Foods had a net margin of 3.83% and a return on equity of 15.17%. The business had revenue of $873.60 million during the quarter, compared to analysts’ expectations of $860.34 million. During the same period last year, the business earned $0.16 earnings per share. The business’s revenue for the quarter was up .6% on a year-over-year basis. equities research analysts anticipate that Flowers Foods, Inc. will post 1.07 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 16th. Shareholders 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 3.17%. The ex-dividend date is Thursday, March 1st. Flowers Foods’s dividend payout ratio is presently 141.67%.
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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