Flowers Foods Inc. (FLO) Shares Down 2.1%
Flowers Foods Inc. (NYSE:FLO) traded down 2.1% on Thursday . The stock traded as low as $14.51 and last traded at $14.60, with a volume of 1,347,950 shares changing hands. The stock had previously closed at $14.91.
FLO has been the subject of several research reports. BMO Capital Markets restated a “hold” rating and issued a $19.00 price objective on shares of Flowers Foods in a report on Friday, May 20th. Zacks Investment Research lowered shares of Flowers Foods from a “hold” rating to a “sell” rating in a report on Monday, July 25th. KeyCorp initiated coverage on shares of Flowers Foods in a report on Wednesday, May 25th. They issued a “sector weight” rating for the company. TheStreet lowered shares of Flowers Foods from a “buy” rating to a “hold” rating in a report on Monday, August 22nd. Finally, Pivotal Research restated a “sell” rating and issued a $4.00 price objective on shares of Flowers Foods in a report on Thursday. Two 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 company’s stock. Flowers Foods presently has a consensus rating of “Hold” and an average target price of $18.00.
The firm has a market capitalization of $3.08 billion and a P/E ratio of 16.92. The stock has a 50-day moving average of $16.81 and a 200 day moving average of $17.95.
Flowers Foods (NYSE:FLO) last posted its quarterly earnings data on Wednesday, August 10th. The company reported $0.26 EPS for the quarter, hitting the consensus estimate of $0.26. During the same period in the previous year, the firm earned $0.25 earnings per share. The firm had revenue of $935 million for the quarter, compared to analysts’ expectations of $948.98 million. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. Equities research analysts anticipate that Flowers Foods Inc. will post $0.91 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 16th. Shareholders of record on Friday, September 2nd will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 4.30%. The ex-dividend date is Wednesday, August 31st.
In other Flowers Foods news, SVP Robert L. Benton, Jr. sold 12,065 shares of Flowers Foods stock in a transaction on Thursday, June 30th. The shares were sold at an average price of $18.49, for a total transaction of $223,081.85. Following the completion of the transaction, the senior vice president now directly owns 65,610 shares of the company’s stock, valued at $1,213,128.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Amos R. Mcmullian acquired 30,000 shares of the company’s stock in a transaction on Thursday, August 25th. The shares were purchased at an average cost of $14.99 per share, with a total value of $449,700.00. Following the completion of the purchase, the chairman now directly owns 3,650,940 shares of the company’s stock, valued at $54,727,590.60. The disclosure for this purchase can be found here.
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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