Flowers Foods Inc. (FLO) Stake Increased by Advisors Asset Management Inc.
Advisors Asset Management Inc. increased its position in Flowers Foods Inc. (NYSE:FLO) by 18.9% during the second quarter, Holdings Channel reports. The firm owned 7,524 shares of the company’s stock after buying an additional 1,194 shares during the period. Advisors Asset Management Inc.’s holdings in Flowers Foods were worth $141,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of FLO. American Century Companies Inc. bought a new position in shares of Flowers Foods during the second quarter worth about $94,985,000. Deprince Race & Zollo Inc. boosted its position in shares of Flowers Foods by 107.1% in the second quarter. Deprince Race & Zollo Inc. now owns 3,301,228 shares of the company’s stock worth $61,898,000 after buying an additional 1,707,167 shares during the period. Emerald Acquisition Ltd. bought a new position in shares of Flowers Foods during the second quarter worth about $13,978,000. First Trust Advisors LP boosted its position in shares of Flowers Foods by 35.5% in the second quarter. First Trust Advisors LP now owns 2,602,382 shares of the company’s stock worth $48,795,000 after buying an additional 681,321 shares during the period. Finally, I.G. Investment Management LTD. boosted its position in shares of Flowers Foods by 451.0% in the second quarter. I.G. Investment Management LTD. now owns 529,000 shares of the company’s stock worth $9,919,000 after buying an additional 433,000 shares during the period. Hedge funds and other institutional investors own 69.05% of the company’s stock.
Shares of Flowers Foods Inc. (NYSE:FLO) traded down 0.307% during mid-day trading on Friday, hitting $14.625. The stock had a trading volume of 542,487 shares. The firm has a market cap of $3.03 billion, a PE ratio of 16.638 and a beta of 0.77. The stock’s 50-day moving average price is $15.14 and its 200-day moving average price is $17.57. Flowers Foods Inc. has a 52-week low of $14.35 and a 52-week high of $27.31.
Flowers Foods (NYSE:FLO) last announced its quarterly earnings results on Wednesday, August 10th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.26. Flowers Foods had a return on equity of 16.39% and a net margin of 4.80%. The company had revenue of $935 million for the quarter, compared to the consensus estimate of $948.98 million. During the same quarter in the previous year, the business earned $0.25 EPS. Flowers Foods’s revenue was up 5.2% compared to the same quarter last year. On average, analysts anticipate that Flowers Foods Inc. will post $0.91 earnings per share for the current fiscal year.
The firm also recently declared 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. The ex-dividend date was Wednesday, August 31st. This represents a $0.64 dividend on an annualized basis and a yield of 4.36%. Flowers Foods’s dividend payout ratio is presently 72.73%.
A number of equities analysts have issued reports on FLO shares. Pivotal Research reduced their target price on Flowers Foods from $8.00 to $4.00 and set a “sell” rating on the stock in a report 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 report on Saturday, August 13th. Zacks Investment Research lowered Flowers Foods from a “hold” rating to a “sell” rating in a research report on Monday, July 25th. DA Davidson started coverage on Flowers Foods in a research report on Wednesday. They set a “neutral” rating and a $16.00 price target on the stock. Finally, Jefferies Group dropped their price target on Flowers Foods from $23.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, August 11th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. Flowers Foods has an average rating of “Hold” and an average price target of $17.78.
In related news, insider George E. Deese sold 462,500 shares of the business’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $15.14, for a total transaction of $7,002,250.00. Following the transaction, the insider now owns 3,288,625 shares in the company, valued at approximately $49,789,782.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Margaret G. Lewis purchased 1,800 shares of Flowers Foods stock in a transaction that occurred on Tuesday, August 16th. The shares were acquired at an average price of $15.30 per share, for a total transaction of $27,540.00. Following the acquisition, the director now 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.
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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