Flowers Foods Inc. (FLO) Sees Large Volume Increase
Shares of Flowers Foods Inc. (NYSE:FLO) saw unusually-high trading volume on Thursday . Approximately 10,871,038 shares traded hands during trading, an increase of 304% from the previous session’s volume of 2,692,450 shares.The stock last traded at $14.77 and had previously closed at $16.15.
FLO has been the subject of several research reports. Zacks Investment Research raised Flowers Foods from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a research note on Tuesday, April 19th. BMO Capital Markets reaffirmed a “hold” rating and set a $19.00 target price on shares of Flowers Foods in a research note on Friday, May 20th. KeyCorp initiated coverage on Flowers Foods in a research note on Wednesday, May 25th. They set a “sector weight” rating for the company. Deutsche Bank AG set a $19.00 target price on Flowers Foods and gave the company a “hold” rating in a research note on Friday, August 5th. Finally, Pivotal Research decreased their target price on Flowers Foods from $8.00 to $4.00 and set a “sell” rating for the company in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. Flowers Foods has an average rating of “Hold” and an average target price of $18.00.
The stock has a 50 day moving average of $18.17 and a 200 day moving average of $18.41. The firm has a market capitalization of $3.07 billion and a PE ratio of 16.89.
Flowers Foods (NYSE:FLO) last issued its quarterly earnings data on Wednesday, August 10th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.26. During the same quarter in the previous year, the firm posted $0.25 EPS. The business earned $935 million during the quarter, compared to the consensus estimate of $948.98 million. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, analysts predict that Flowers Foods Inc. will post $0.98 earnings per share for the current year.
In other Flowers Foods news, CAO Karyl H. Lauder sold 23,500 shares of Flowers Foods stock in a transaction on Monday, June 27th. The stock was sold at an average price of $17.96, for a total value of $422,060.00. Following the completion of the transaction, the chief accounting officer now owns 132,851 shares in the company, valued at approximately $2,386,003.96. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Robert B. Hysell sold 23,700 shares of Flowers Foods stock in a transaction on Friday, June 3rd. The shares were sold at an average price of $18.71, for a total value of $443,427.00. Following the completion of the transaction, the insider now owns 83,554 shares of the company’s stock, valued at approximately $1,563,295.34. The disclosure for this sale can be found here.
Other institutional investors have modified their holdings of the company. Airain ltd acquired a new position in shares of Flowers Foods during the fourth quarter valued at about $1,108,000. Russell Frank Co increased its position in shares of Flowers Foods by 36.0% in the fourth quarter. Russell Frank Co now owns 81,872 shares of the company’s stock valued at $1,786,000 after buying an additional 21,679 shares during the last quarter. Trexquant Investment LP purchased a new stake in Flowers Foods during the fourth quarter worth $2,205,000. State of Tennessee Treasury Department increased its stake in Flowers Foods by 225.0% in the fourth quarter. State of Tennessee Treasury Department now owns 130,000 shares of the company’s stock worth $2,794,000 after buying an additional 90,000 shares during the last quarter. Finally, Westfield Capital Management Co. LP increased its stake in Flowers Foods by 72.8% in the fourth quarter. Westfield Capital Management Co. LP now owns 318,740 shares of the company’s stock worth $6,850,000 after buying an additional 134,320 shares during the last quarter.
Flowers Foods, Inc is a producer and marketer of bakery products. The Company operates in two segments: direct-store-delivery segment (DSD Segment) and warehouse delivery segment (Warehouse Segment). The DSD segment’s production plant locations include Birmingham, Alabama; Opelika, Alabama; Tuscaloosa, Alabama; Goldsboro, North Carolina; Jamestown, North Carolina, and Oxford, Pennsylvania.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.