Flowers Foods, Inc. (NYSE:FLO) Declares Dividend Increase – $0.23 Per Share

Flowers Foods, Inc. (NYSE:FLOGet Rating) announced a quarterly dividend on Thursday, May 25th, Zacks reports. Stockholders of record on Thursday, June 8th will be paid a dividend of 0.23 per share on Thursday, June 22nd. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date of this dividend is Wednesday, June 7th. This is a positive change from Flowers Foods’s previous quarterly dividend of $0.22.

Flowers Foods has raised its dividend by an average of 5.1% annually over the last three years and has raised its dividend every year for the last 20 years. Flowers Foods has a payout ratio of 65.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Flowers Foods to earn $1.33 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 66.2%.

Flowers Foods Stock Up 0.4 %

Shares of FLO opened at $26.11 on Friday. Flowers Foods has a 52 week low of $24.15 and a 52 week high of $30.16. The firm has a market cap of $5.53 billion, a P/E ratio of 26.11 and a beta of 0.40. The firm’s 50-day simple moving average is $27.46 and its 200 day simple moving average is $27.98. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.98 and a current ratio of 1.32.

Flowers Foods (NYSE:FLOGet Rating) last announced its quarterly earnings results on Friday, May 19th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. Flowers Foods had a net margin of 4.35% and a return on equity of 17.95%. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same quarter in the prior year, the business earned $0.44 EPS. Flowers Foods’s quarterly revenue was up 6.9% on a year-over-year basis. On average, analysts forecast that Flowers Foods will post 1.21 earnings per share for the current year.

Institutional Trading of Flowers Foods

Institutional investors and hedge funds have recently made changes to their positions in the company. Fortis Capital Advisors LLC bought a new stake in shares of Flowers Foods during the 4th quarter worth approximately $30,000. First Manhattan CO. LLC. lifted its stake in Flowers Foods by 1,475.9% in the 1st quarter. First Manhattan CO. LLC. now owns 4,050 shares of the company’s stock valued at $111,000 after purchasing an additional 3,793 shares during the last quarter. Point72 Middle East FZE bought a new position in Flowers Foods in the 4th quarter valued at approximately $132,000. Captrust Financial Advisors lifted its stake in Flowers Foods by 15.3% in the 2nd quarter. Captrust Financial Advisors now owns 7,702 shares of the company’s stock valued at $203,000 after purchasing an additional 1,022 shares during the last quarter. Finally, Prospera Financial Services Inc bought a new position in Flowers Foods in the 1st quarter valued at approximately $229,000. Institutional investors own 66.81% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on FLO shares. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Flowers Foods from $26.00 to $24.00 in a research note on Monday. StockNews.com initiated coverage on shares of Flowers Foods in a report on Thursday, May 18th. They set a “buy” rating for the company.

About Flowers Foods

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Flowers Foods, Inc engages in the manufacture and sale of bakery products. The firm offers bakery foods for retail and food service customers in the United States. Its brands include Nature’s Own, Dave’s Killer Bread, Wonder, Canyon Bakehouse, Tastykake and Mrs. Freshley’s. The company was founded by William Howard Flowers, Sr.

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Dividend History for Flowers Foods (NYSE:FLO)

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