Analysts Offer Predictions for Flowers Foods Inc.’s Q3 2016 Earnings (FLO)
Flowers Foods Inc. (NYSE:FLO) – Stock analysts at DA Davidson issued their Q3 2016 earnings per share estimates for Flowers Foods in a research report issued to clients and investors on Tuesday. DA Davidson analyst T. Ramey anticipates that the firm will earn $0.21 per share for the quarter. DA Davidson has a “Neutral” rating and a $16.00 price target on the stock. DA Davidson also issued estimates for Flowers Foods’ Q4 2016 earnings at $0.17 EPS, FY2016 earnings at $0.92 EPS, Q1 2017 earnings at $0.29 EPS, Q2 2017 earnings at $0.25 EPS, Q3 2017 earnings at $0.22 EPS, Q4 2017 earnings at $0.19 EPS and FY2017 earnings at $0.95 EPS.
Other equities analysts have also issued reports about the company. Pivotal Research decreased their target price on 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 set a $19.00 target price on Flowers Foods and gave the stock a “hold” rating in a research note on Friday, August 5th. Jefferies Group decreased their target price on Flowers Foods from $23.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, August 11th. Zacks Investment Research lowered Flowers Foods from a “hold” rating to a “strong sell” rating in a research note on Friday, August 12th. Finally, TheStreet lowered Flowers Foods from a “buy” rating to a “hold” rating in a research note on Monday, August 22nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $17.78.
Flowers Foods (NYSE:FLO) opened at 14.71 on Thursday. The firm has a 50-day moving average price of $15.12 and a 200 day moving average price of $17.54. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of 16.73 and a beta of 0.77. Flowers Foods has a 52 week low of $14.35 and a 52 week high of $27.31.
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 Thomson Reuters’ consensus estimate of $0.26. Flowers Foods had a return on equity of 16.39% and a net margin of 4.80%. 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 firm earned $0.25 earnings per share. The company’s revenue was up 5.2% compared to the same quarter last year.
A number of institutional investors have recently bought and sold shares of the company. State Street Corp raised its position in Flowers Foods by 1.6% in the first quarter. State Street Corp now owns 4,922,237 shares of the company’s stock valued at $90,861,000 after buying an additional 76,579 shares during the last quarter. AXA bought a new position in Flowers Foods during the first quarter valued at about $7,161,000. Zebra Capital Management LLC raised its position in Flowers Foods by 67.1% in the first quarter. Zebra Capital Management LLC now owns 63,410 shares of the company’s stock valued at $1,171,000 after buying an additional 25,467 shares during the last quarter. Deprince Race & Zollo Inc. raised its position in Flowers Foods by 107.1% in the second quarter. Deprince Race & Zollo Inc. now owns 3,301,228 shares of the company’s stock valued at $61,898,000 after buying an additional 1,707,167 shares during the last quarter. Finally, IFP Advisors Inc raised its position in Flowers Foods by 4.2% in the first quarter. IFP Advisors Inc now owns 10,252 shares of the company’s stock valued at $189,000 after buying an additional 409 shares during the last quarter. Institutional investors and hedge funds own 69.05% of the company’s stock.
In related news, insider George E. Deese sold 462,500 shares of the firm’s stock in a transaction that occurred on 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 directly owns 3,288,625 shares in the company, valued at approximately $49,789,782.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 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 bought at an average price of $15.30 per share, for a total transaction of $27,540.00. Following the completion of the transaction, 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.
The business also recently declared a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, September 2nd were given a dividend of $0.16 per share. The ex-dividend date was Wednesday, August 31st. This represents a $0.64 annualized dividend and a yield of 4.35%. Flowers Foods’s payout ratio is 72.73%.
About Flowers Foods
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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