Flowers Foods, Inc. (NYSE:FLO) Shares Sold by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. lowered its position in Flowers Foods, Inc. (NYSE:FLOFree Report) by 1.3% in the first quarter, HoldingsChannel reports. The firm owned 225,959 shares of the company’s stock after selling 2,908 shares during the period. Salem Investment Counselors Inc.’s holdings in Flowers Foods were worth $5,367,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Rise Advisors LLC acquired a new position in shares of Flowers Foods in the 1st quarter worth approximately $26,000. Financial Connections Group Inc. acquired a new position in Flowers Foods during the 4th quarter worth about $30,000. Gladius Capital Management LP increased its stake in Flowers Foods by 46.4% during the third quarter. Gladius Capital Management LP now owns 1,539 shares of the company’s stock worth $34,000 after purchasing an additional 488 shares during the period. GAMMA Investing LLC purchased a new position in shares of Flowers Foods in the fourth quarter valued at approximately $34,000. Finally, Jones Financial Companies Lllp acquired a new position in shares of Flowers Foods in the fourth quarter worth $39,000. 75.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on FLO shares. DA Davidson upped their target price on Flowers Foods from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, May 17th. Deutsche Bank Aktiengesellschaft upped their price target on Flowers Foods from $22.00 to $23.00 and gave the stock a “hold” rating in a report on Thursday, May 9th. Finally, StockNews.com upgraded Flowers Foods from a “hold” rating to a “buy” rating in a research note on Saturday, May 25th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $24.00.

Get Our Latest Research Report on Flowers Foods

Flowers Foods Stock Performance

FLO stock traded up $0.11 during midday trading on Friday, hitting $22.52. The stock had a trading volume of 2,005,575 shares, compared to its average volume of 1,028,887. The firm has a market capitalization of $4.75 billion, a price-to-earnings ratio of 38.17, a P/E/G ratio of 5.74 and a beta of 0.37. The stock has a 50-day simple moving average of $23.88 and a 200 day simple moving average of $23.13. Flowers Foods, Inc. has a 52 week low of $19.64 and a 52 week high of $26.33. The company has a current ratio of 1.11, a quick ratio of 0.82 and a debt-to-equity ratio of 0.76.

Flowers Foods (NYSE:FLOGet Free Report) last announced its earnings results on Thursday, May 16th. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.02). The business had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.58 billion. Flowers Foods had a return on equity of 18.35% and a net margin of 2.45%. Flowers Foods’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.38 EPS. As a group, equities research analysts anticipate that Flowers Foods, Inc. will post 1.24 earnings per share for the current year.

Flowers Foods Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, June 6th were given a $0.24 dividend. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.26%. This is a boost from Flowers Foods’s previous quarterly dividend of $0.23. Flowers Foods’s dividend payout ratio is currently 162.71%.

Insiders Place Their Bets

In other news, Director Edward J. Jr. Casey bought 5,000 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The shares were acquired at an average cost of $23.55 per share, for a total transaction of $117,750.00. Following the completion of the acquisition, the director now owns 20,330 shares in the company, valued at $478,771.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 11.42% of the company’s stock.

Flowers Foods Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Flowers Foods (NYSE:FLO)

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