Brokerages predict that Flowers Foods, Inc. (NYSE:FLO) will announce sales of $937.07 million for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Flowers Foods’ earnings, with the lowest sales estimate coming in at $934.30 million and the highest estimate coming in at $941.00 million. Flowers Foods reported sales of $926.64 million during the same quarter last year, which indicates a positive year-over-year growth rate of 1.1%. The company is expected to announce its next quarterly earnings report on Wednesday, August 8th.
On average, analysts expect that Flowers Foods will report full-year sales of $3.96 billion for the current fiscal year, with estimates ranging from $3.94 billion to $3.97 billion. For the next fiscal year, analysts anticipate that the business will report sales of $4.03 billion per share, with estimates ranging from $3.96 billion to $4.08 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Flowers Foods.
Flowers Foods (NYSE:FLO) last issued its quarterly earnings results on Wednesday, May 16th. The company reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.01). Flowers Foods had a return on equity of 15.87% and a net margin of 3.58%. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the previous year, the firm posted $0.25 earnings per share. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year.
Several brokerages have issued reports on FLO. Zacks Investment Research cut Flowers Foods from a “hold” rating to a “sell” rating in a report on Friday, May 18th. Hilliard Lyons began coverage on Flowers Foods in a report on Tuesday, April 3rd. They issued a “buy” rating and a $25.00 target price for the company. Berenberg Bank began coverage on Flowers Foods in a report on Monday, May 21st. They issued a “hold” rating and a $19.00 target price for the company. KeyCorp restated a “buy” rating on shares of Flowers Foods in a report on Wednesday, March 28th. Finally, ValuEngine cut Flowers Foods from a “buy” rating to a “hold” rating in a report on Monday, May 14th. Eight equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $22.00.
Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its stake in shares of Flowers Foods by 4.0% in the 1st quarter. BlackRock Inc. now owns 15,585,781 shares of the company’s stock valued at $340,704,000 after purchasing an additional 602,337 shares during the last quarter. Wellington Shields & Co. LLC lifted its stake in Flowers Foods by 4,675.7% during the 1st quarter. Wellington Shields & Co. LLC now owns 6,678,245 shares of the company’s stock worth $145,986,000 after acquiring an additional 6,538,406 shares in the last quarter. Southeast Asset Advisors Inc. lifted its stake in Flowers Foods by 0.7% during the 1st quarter. Southeast Asset Advisors Inc. now owns 2,117,839 shares of the company’s stock worth $46,296,000 after acquiring an additional 15,633 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Flowers Foods by 14.6% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 1,940,432 shares of the company’s stock worth $42,418,000 after acquiring an additional 246,581 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in Flowers Foods by 3.2% during the 1st quarter. Northern Trust Corp now owns 1,627,253 shares of the company’s stock worth $35,572,000 after acquiring an additional 50,869 shares in the last quarter. 66.40% of the stock is currently owned by institutional investors and hedge funds.
Shares of FLO traded up $0.19 during trading hours on Friday, hitting $20.69. 450,401 shares of the stock were exchanged, compared to its average volume of 1,444,610. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.13 and a current ratio of 1.43. Flowers Foods has a 12-month low of $16.80 and a 12-month high of $22.82. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of 23.25, a PEG ratio of 2.14 and a beta of 0.63.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 21st. Stockholders of record on Thursday, June 7th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 3.48%. The ex-dividend date of this dividend was Wednesday, June 6th. This is a positive change from Flowers Foods’s previous quarterly dividend of $0.17. Flowers Foods’s dividend payout ratio is 80.90%.
About Flowers Foods
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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