Flowers Foods Inc. (FLO) Trading Down 2.1%
Flowers Foods Inc. (NYSE:FLO) was down 2.1% during trading on Thursday . The company traded as low as $14.51 and last traded at $14.60, with a volume of 1,347,950 shares. The stock had previously closed at $14.91.
A number of equities research analysts have commented on FLO shares. Pivotal Research decreased their target price on shares of Flowers Foods from $8.00 to $4.00 and set a “sell” rating on the stock in a research note on Wednesday, August 10th. Deutsche Bank AG restated a “hold” rating and set a $19.00 target price on shares of Flowers Foods in a research note on Saturday, August 13th. Zacks Investment Research cut shares of Flowers Foods from a “hold” rating to a “sell” rating in a research note on Monday, July 25th. Jefferies Group decreased their target price on shares of Flowers Foods from $23.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, August 11th. Finally, TheStreet cut shares of Flowers Foods from a “buy” rating to a “hold” rating in a research note on Monday, August 22nd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $18.00.
The firm’s 50-day moving average price is $16.98 and its 200-day moving average price is $17.98. The firm has a market capitalization of $3.05 billion and a PE ratio of 16.76.
Flowers Foods (NYSE:FLO) last issued its earnings results on Wednesday, August 10th. The company reported $0.26 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.26. During the same quarter in the prior year, the company earned $0.25 EPS. The firm earned $935 million during the quarter, compared to analysts’ expectations of $948.98 million. Flowers Foods’s quarterly revenue was up 5.2% on a year-over-year basis. On average, equities research analysts predict that Flowers Foods Inc. will post $0.91 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 16th. Investors of record on Friday, September 2nd will be given a $0.16 dividend. The ex-dividend date of this dividend is Wednesday, August 31st. This represents a $0.64 dividend on an annualized basis and a yield of 4.34%.
In related news, insider Robert B. Hysell sold 23,700 shares of the company’s stock in a transaction that occurred on Friday, June 3rd. The stock was sold at an average price of $18.71, for a total value of $443,427.00. Following the sale, the insider now owns 83,554 shares in the company, valued at $1,563,295.34. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman George E. Deese sold 560,731 shares of the company’s stock in a transaction that occurred on Friday, June 3rd. The shares were sold at an average price of $18.69, for a total value of $10,480,062.39. Following the completion of the sale, the chairman now owns 3,255,743 shares in the company, valued at approximately $60,849,836.67. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Flowers Foods stock. Principal Financial Group Inc. increased its stake in Flowers Foods Inc. (NYSE:FLO) by 2.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 598,489 shares of the company’s stock after buying an additional 13,451 shares during the period. Principal Financial Group Inc. owned approximately 0.28% of Flowers Foods worth $12,862,000 at the end of the most recent 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.
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