Zacks Research Comments on Flowers Foods, Inc.’s FY2024 Earnings (NYSE:FLO)

Flowers Foods, Inc. (NYSE:FLO) – Equities researchers at Zacks Research reduced their FY2024 earnings per share (EPS) estimates for Flowers Foods in a note issued to investors on Thursday, April 18th. Zacks Research analyst V. Bagree now forecasts that the company will post earnings of $1.23 per share for the year, down from their previous estimate of $1.24. The consensus estimate for Flowers Foods’ current full-year earnings is $1.25 per share. Zacks Research also issued estimates for Flowers Foods’ Q4 2024 earnings at $0.22 EPS, Q2 2025 earnings at $0.36 EPS and FY2026 earnings at $1.37 EPS.

Flowers Foods (NYSE:FLO) last announced its quarterly earnings data on Friday, February 9th. The company reported $0.20 EPS for the quarter, meeting the consensus estimate of $0.20. Flowers Foods had a return on equity of 18.15% and a net margin of 2.42%. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the business earned $0.23 earnings per share. The business’s revenue was up 4.3% on a year-over-year basis.

Other equities analysts also recently issued reports about the company. DA Davidson initiated coverage on Flowers Foods in a research report on Friday, March 1st. They issued a “neutral” rating and a $24.00 price objective on the stock. StockNews.com upgraded Flowers Foods from a “hold” rating to a “buy” rating in a research report on Tuesday, April 9th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Flowers Foods has a consensus rating of “Hold” and a consensus target price of $24.00.

Flowers Foods Price Performance

Shares of Flowers Foods stock opened at $24.05 on Friday. The stock’s 50-day simple moving average is $22.91 and its 200-day simple moving average is $22.30. Flowers Foods has a 52 week low of $19.64 and a 52 week high of $29.10. The company has a market capitalization of $5.08 billion, a price-to-earnings ratio of 41.46, a PEG ratio of 4.40 and a beta of 0.39. The company has a quick ratio of 0.76, a current ratio of 1.04 and a debt-to-equity ratio of 0.78.

Institutional Investors Weigh In On Flowers Foods

Several large investors have recently added to or reduced their stakes in FLO. Rise Advisors LLC bought a new stake in Flowers Foods during the first quarter worth approximately $26,000. HM Payson & Co. bought a new stake in Flowers Foods during the third quarter worth approximately $30,000. Financial Connections Group Inc. bought a new position in shares of Flowers Foods during the fourth quarter valued at approximately $30,000. Fortis Capital Advisors LLC bought a new position in shares of Flowers Foods during the fourth quarter valued at approximately $30,000. Finally, NBC Securities Inc. bought a new position in shares of Flowers Foods during the third quarter valued at approximately $32,000. 75.45% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Edward J. Jr. Casey bought 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were bought at an average cost of $23.55 per share, for a total transaction of $117,750.00. Following the completion of the transaction, the director now owns 20,330 shares of the company’s stock, valued at $478,771.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Flowers Foods news, insider Terry S. Thomas sold 36,577 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $23.11, for a total transaction of $845,294.47. Following the sale, the insider now directly owns 42,740 shares of the company’s stock, valued at $987,721.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Edward J. Jr. Casey acquired 5,000 shares of Flowers Foods stock in a transaction on Tuesday, April 2nd. The shares were bought at an average cost of $23.55 per share, for a total transaction of $117,750.00. Following the completion of the purchase, the director now directly owns 20,330 shares of the company’s stock, valued at $478,771.50. The disclosure for this purchase can be found here. 11.49% of the stock is owned by company insiders.

Flowers Foods Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a $0.23 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.83%. Flowers Foods’s dividend payout ratio is currently 158.62%.

Flowers Foods Company Profile

Flowers Foods, Inc produces and markets packaged bakery food products in the United States. Its principal products include fresh breads, buns, rolls, snack items, bagels, English muffins, and tortillas, as well as frozen breads and rolls under the Nature's Own, Dave's Killer Bread, Wonder, Canyon Bakehouse, Mrs.