Flowers Foods (NYSE:FLO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “Flowers Foods is one of the largest producers of packaged bakery foods in the United States. The company operates highly efficient bakeries that produce a wide range of bakery food for retail and foodservice customers in the U.S. The company maintains some of the most efficient and technologically advanced bakeries in the country and has a team of outstanding employees and associates. Each bakery operates as a separate subsidiary of the company and has its own president, human resources director, and controller. “
Other equities analysts have also issued research reports about the stock. TheStreet upgraded shares of Flowers Foods from a “c+” rating to a “b” rating in a report on Wednesday, February 7th. Stephens reiterated a “hold” rating and set a $20.00 price target on shares of Flowers Foods in a report on Friday, February 9th. Pivotal Research cut their price target on shares of Flowers Foods to $26.00 and set a “buy” rating on the stock in a report on Thursday, February 8th. KeyCorp reiterated a “buy” rating on shares of Flowers Foods in a report on Wednesday, March 28th. Finally, Hilliard Lyons began coverage on shares of Flowers Foods in a report on Tuesday, April 3rd. They set a “buy” rating and a $25.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $22.33.
Shares of NYSE:FLO opened at $22.34 on Wednesday. The firm has a market cap of $4,778.72, a PE ratio of 25.10, a price-to-earnings-growth ratio of 3.44 and a beta of 0.67. The company has a current ratio of 1.29, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66. Flowers Foods has a 52 week low of $16.80 and a 52 week high of $22.82.
Flowers Foods (NYSE:FLO) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.03. The company had revenue of $873.60 million for 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%. Flowers Foods’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.16 earnings per share. equities analysts anticipate that Flowers Foods will post 1.08 earnings per share for the current year.
In related news, insider David M. Roach sold 10,500 shares of the business’s stock in a transaction on Tuesday, March 27th. The shares were sold at an average price of $21.11, for a total value of $221,655.00. Following the transaction, the insider now owns 67,801 shares in the company, valued at $1,431,279.11. The transaction was disclosed in a document filed with the SEC, which is available through this link. 15.20% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in FLO. Fuller & Thaler Asset Management Inc. acquired a new position in Flowers Foods in the fourth quarter valued at $10,085,000. BlackRock Inc. lifted its holdings in Flowers Foods by 2.9% in the fourth quarter. BlackRock Inc. now owns 14,983,444 shares of the company’s stock valued at $289,330,000 after buying an additional 416,393 shares during the period. Gotham Asset Management LLC lifted its holdings in Flowers Foods by 262.3% in the fourth quarter. Gotham Asset Management LLC now owns 544,437 shares of the company’s stock valued at $10,513,000 after buying an additional 394,167 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Flowers Foods by 16.2% in the third quarter. Dimensional Fund Advisors LP now owns 2,387,499 shares of the company’s stock valued at $44,908,000 after buying an additional 333,384 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in Flowers Foods by 110.6% in the third quarter. JPMorgan Chase & Co. now owns 560,674 shares of the company’s stock valued at $10,513,000 after buying an additional 294,482 shares during the period. Institutional investors and hedge funds own 62.24% of the company’s stock.
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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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