ProShare Advisors LLC Acquires 2,499,194 Shares of Flowers Foods, Inc. $FLO

ProShare Advisors LLC lifted its holdings in Flowers Foods, Inc. (NYSE:FLO) by 139.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,295,812 shares of the company’s stock after acquiring an additional 2,499,194 shares during the period. ProShare Advisors LLC owned 2.03% of Flowers Foods worth $56,060,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in FLO. Elevation Point Wealth Partners LLC purchased a new position in Flowers Foods in the 2nd quarter worth approximately $28,000. Quent Capital LLC bought a new stake in shares of Flowers Foods during the third quarter valued at approximately $30,000. Private Trust Co. NA lifted its holdings in shares of Flowers Foods by 103.8% in the second quarter. Private Trust Co. NA now owns 1,932 shares of the company’s stock worth $31,000 after buying an additional 984 shares in the last quarter. IFP Advisors Inc boosted its position in shares of Flowers Foods by 860.2% during the second quarter. IFP Advisors Inc now owns 1,978 shares of the company’s stock worth $32,000 after acquiring an additional 1,772 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB grew its stake in Flowers Foods by 271.4% during the third quarter. Wilmington Savings Fund Society FSB now owns 2,737 shares of the company’s stock valued at $36,000 after acquiring an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 75.45% of the company’s stock.

Flowers Foods Price Performance

Shares of FLO stock opened at $11.82 on Tuesday. Flowers Foods, Inc. has a twelve month low of $9.93 and a twelve month high of $20.23. The company has a current ratio of 0.79, a quick ratio of 0.57 and a debt-to-equity ratio of 0.97. The stock has a fifty day simple moving average of $10.96 and a two-hundred day simple moving average of $12.61. The stock has a market capitalization of $2.50 billion, a price-to-earnings ratio of 12.85 and a beta of 0.33.

Flowers Foods Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, November 28th were issued a $0.2475 dividend. The ex-dividend date was Friday, November 28th. This represents a $0.99 annualized dividend and a dividend yield of 8.4%. Flowers Foods’s payout ratio is currently 107.61%.

Analyst Ratings Changes

Several analysts have commented on FLO shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Flowers Foods in a research note on Thursday, January 22nd. Truist Financial reduced their target price on Flowers Foods from $15.00 to $10.00 and set a “hold” rating on the stock in a report on Thursday, November 13th. Finally, Zacks Research raised Flowers Foods from a “strong sell” rating to a “hold” rating in a research note on Monday, January 26th. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $13.67.

Insider Buying and Selling at Flowers Foods

In other news, CEO Ryals Mcmullian sold 209,000 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $10.87, for a total transaction of $2,271,830.00. Following the transaction, the chief executive officer directly owned 1,022,380 shares in the company, valued at approximately $11,113,270.60. This trade represents a 16.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 11.57% of the company’s stock.

Flowers Foods Profile

Flowers Foods, Inc is one of the largest producers of packaged bakery foods in the United States, offering a variety of fresh bread, buns, rolls, snack cakes and tortillas. Headquartered in Thomasville, Georgia, the company operates an extensive network of bakeries and distribution centers that serve retail grocery chains, convenience stores, mass merchandisers and foodservice customers nationwide. Flowers Foods markets its products under well-known brands such as Nature’s Own, Wonder, Dave’s Killer Bread, Mrs.