California State Teachers Retirement System lowered its holdings in Flowers Foods, Inc. (NYSE:FLO) by 3.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 287,902 shares of the company’s stock after selling 9,326 shares during the quarter. California State Teachers Retirement System’s holdings in Flowers Foods were worth $6,294,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. Truewealth LLC purchased a new position in shares of Flowers Foods in the fourth quarter valued at $119,000. Advisor Group Inc. increased its position in shares of Flowers Foods by 77.8% in the fourth quarter. Advisor Group Inc. now owns 6,831 shares of the company’s stock valued at $132,000 after buying an additional 2,990 shares in the last quarter. Quantitative Systematic Strategies LLC purchased a new position in shares of Flowers Foods in the first quarter valued at $205,000. Franklin Resources Inc. purchased a new position in shares of Flowers Foods in the fourth quarter valued at $203,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Flowers Foods by 28.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,790 shares of the company’s stock valued at $280,000 after buying an additional 2,814 shares in the last quarter. 66.40% of the stock is owned by institutional investors.
A number of research analysts have recently weighed in on FLO shares. KeyCorp started coverage on Flowers Foods in a research report on Tuesday, March 27th. They issued an “overweight” rating and a $24.00 price target for the company. Hilliard Lyons started coverage on Flowers Foods in a research report on Tuesday, April 3rd. They issued a “buy” rating and a $25.00 price target for the company. Deutsche Bank set a $24.00 price target on Flowers Foods and gave the company a “hold” rating in a research report on Tuesday, April 17th. Zacks Investment Research cut Flowers Foods from a “buy” rating to a “hold” rating in a research report on Wednesday, April 18th. Finally, ValuEngine upgraded Flowers Foods from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. Eight research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Flowers Foods presently has an average rating of “Hold” and a consensus target price of $22.00.
Flowers Foods opened at $20.83 on Monday, MarketBeat reports. The stock has a market cap of $4.39 billion, a P/E ratio of 23.40, a P/E/G ratio of 2.18 and a beta of 0.63. Flowers Foods, Inc. has a 52 week low of $16.80 and a 52 week high of $22.82. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.43 and a quick ratio of 1.13.
Flowers Foods (NYSE:FLO) last posted its quarterly earnings data on Wednesday, May 16th. The company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.01). The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Flowers Foods had a return on equity of 15.87% and a net margin of 3.58%. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.25 EPS. sell-side analysts forecast that Flowers Foods, Inc. will post 1.06 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 21st. Investors of record on Thursday, June 7th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend was Wednesday, June 6th. This is a boost from Flowers Foods’s previous quarterly dividend of $0.17. Flowers Foods’s dividend payout ratio (DPR) is currently 80.90%.
Flowers Foods Company Profile
Flowers Foods, Inc produces and markets bakery products in the United States. It operates through two segments, Direct-Store-Delivery (DSD) and Warehouse Delivery. The DSD segment produces and markets fresh breads, buns, rolls, tortillas, and snack cakes. This segment offers its products primarily under the Nature's Own, Wonder, Cobblestone Bread Company, Tastykake, and Dave's Killer Bread brand names.
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