Flowers Foods Inc. (FLO) Coverage Initiated by Analysts at DA Davidson
Research analysts at DA Davidson began coverage on shares of Flowers Foods Inc. (NYSE:FLO) in a note issued to investors on Wednesday, StockTargetPrices.com reports. The firm set a “neutral” rating and a $16.00 price target on the stock. DA Davidson’s target price would indicate a potential upside of 7.67% from the stock’s current price.
Other equities research analysts have also issued reports about the stock. Jefferies Group lowered their price target 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. TheStreet lowered shares of Flowers Foods from a “buy” rating to a “hold” rating in a research note on Monday, August 22nd. Deutsche Bank AG reissued a “hold” rating and issued a $19.00 price objective on shares of Flowers Foods in a research report on Saturday, August 13th. Zacks Investment Research raised shares of Flowers Foods from a “sell” rating to a “hold” rating in a research report on Monday, August 1st. Finally, Pivotal Research decreased their price objective on shares of Flowers Foods from $8.00 to $4.00 and set a “sell” rating for the company in a research report on Wednesday, August 10th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $17.78.
Flowers Foods (NYSE:FLO) opened at 14.86 on Wednesday. Flowers Foods has a 12 month low of $14.35 and a 12 month high of $27.31. The stock’s 50 day moving average is $15.17 and its 200-day moving average is $17.61. The firm has a market cap of $3.07 billion, a price-to-earnings ratio of 16.91 and a beta of 0.77.
Flowers Foods (NYSE:FLO) last issued its quarterly earnings results on Wednesday, August 10th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.26. Flowers Foods had a net margin of 4.80% and a return on equity of 16.39%. The firm had revenue of $935 million for the quarter, compared to analyst estimates of $948.98 million. During the same period in the previous year, the business earned $0.25 EPS. The company’s revenue was up 5.2% compared to the same quarter last year. On average, analysts anticipate that Flowers Foods will post $0.91 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, September 2nd were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 4.31%. The ex-dividend date of this dividend was Wednesday, August 31st. Flowers Foods’s payout ratio is 72.73%.
In other Flowers Foods news, Director Richard Lan acquired 14,000 shares of the business’s stock in a transaction on Monday, August 22nd. The stock was purchased at an average price of $15.18 per share, with a total value of $212,520.00. Following the acquisition, the director now directly owns 27,763 shares of the company’s stock, valued at approximately $421,442.34. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Margaret G. Lewis acquired 1,800 shares of the business’s stock in a transaction on Tuesday, August 16th. The stock was acquired at an average cost of $15.30 per share, with a total value of $27,540.00. Following the acquisition, the director now directly owns 13,856 shares in the company, valued at $211,996.80. The disclosure for this purchase can be found here. Corporate insiders own 16.87% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Macquarie Group Ltd. acquired a new stake in Flowers Foods during the second quarter worth about $1,946,000. Mason Street Advisors LLC acquired a new stake in Flowers Foods during the second quarter worth about $1,556,000. Royal Bank of Canada increased its stake in Flowers Foods by 5.5% in the second quarter. Royal Bank of Canada now owns 59,980 shares of the company’s stock worth $1,126,000 after buying an additional 3,147 shares in the last quarter. IFP Advisors Inc increased its stake in Flowers Foods by 44.4% in the second quarter. IFP Advisors Inc now owns 14,804 shares of the company’s stock worth $278,000 after buying an additional 4,552 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its stake in Flowers Foods by 5.9% in the second quarter. Public Employees Retirement System of Ohio now owns 47,956 shares of the company’s stock worth $899,000 after buying an additional 2,670 shares in the last quarter. 69.05% of the stock is owned by hedge funds and other institutional investors.
Flowers Foods Company Profile
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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