Verition Fund Management LLC purchased a new position in shares of Flowers Foods, Inc. (NYSE:FLO) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 9,529 shares of the company’s stock, valued at approximately $213,000.
Several other large investors also recently bought and sold shares of the business. Bank of America Corp DE increased its position in shares of Flowers Foods by 2.9% during the 2nd quarter. Bank of America Corp DE now owns 744,075 shares of the company’s stock worth $16,637,000 after purchasing an additional 20,679 shares during the last quarter. Tudor Investment Corp Et Al increased its position in shares of Flowers Foods by 22.0% during the 2nd quarter. Tudor Investment Corp Et Al now owns 33,135 shares of the company’s stock worth $741,000 after purchasing an additional 5,977 shares during the last quarter. ICW Investment Advisors LLC increased its position in shares of Flowers Foods by 1.1% during the 2nd quarter. ICW Investment Advisors LLC now owns 49,540 shares of the company’s stock worth $1,108,000 after purchasing an additional 521 shares during the last quarter. TD Asset Management Inc. increased its position in shares of Flowers Foods by 22.0% during the 2nd quarter. TD Asset Management Inc. now owns 224,430 shares of the company’s stock worth $5,018,000 after purchasing an additional 40,400 shares during the last quarter. Finally, Federated Hermes Inc. increased its position in shares of Flowers Foods by 10.7% during the 2nd quarter. Federated Hermes Inc. now owns 76,716 shares of the company’s stock worth $1,716,000 after purchasing an additional 7,426 shares during the last quarter. 64.84% of the stock is currently owned by hedge funds and other institutional investors.
Separately, Jefferies Financial Group reissued a “hold” rating and issued a $24.00 price target on shares of Flowers Foods in a research note on Thursday, August 6th. Six investment analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and a consensus target price of $24.00.
Shares of FLO stock opened at $23.27 on Wednesday. The stock has a 50-day moving average of $23.97 and a 200-day moving average of $22.71. Flowers Foods, Inc. has a 1-year low of $17.42 and a 1-year high of $25.18. The stock has a market cap of $4.92 billion, a price-to-earnings ratio of 51.71 and a beta of 0.46. The company has a current ratio of 1.58, a quick ratio of 1.35 and a debt-to-equity ratio of 0.77.
Flowers Foods (NYSE:FLO) last released its earnings results on Thursday, August 6th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.31 by $0.02. Flowers Foods had a return on equity of 18.50% and a net margin of 2.29%. The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter last year, the firm posted $0.25 earnings per share. The firm’s revenue was up 5.1% on a year-over-year basis. Sell-side analysts forecast that Flowers Foods, Inc. will post 1.22 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Friday, August 28th were paid a dividend of $0.20 per share. The ex-dividend date was Thursday, August 27th. This represents a $0.80 annualized dividend and a yield of 3.44%. Flowers Foods’s dividend payout ratio is currently 83.33%.
Flowers Foods Company Profile
Flowers Foods, Inc produces and markets bakery products in the United States. The company operates through two segments, Direct-Store-Delivery and Warehouse Delivery. The Direct-Store-Delivery segment produces and markets fresh breads, buns, rolls, tortillas, and snack cakes. This segment offers its products primarily under the Nature's Own, Dave's Killer Bread, Tastykake, Wonder, and Cobblestone Bread Company brand names.
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