Vanguard Group Inc. Has $286,171,000 Position in Flowers Foods Inc. (FLO)
Vanguard Group Inc. raised its stake in shares of Flowers Foods Inc. (NYSE:FLO) by 4.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,262,447 shares of the company’s stock after buying an additional 627,379 shares during the period. Vanguard Group Inc. owned approximately 7.19% of Flowers Foods worth $286,171,000 as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. Principal Financial Group Inc. raised its stake in shares of Flowers Foods by 10.1% in the second quarter. Principal Financial Group Inc. now owns 693,461 shares of the company’s stock valued at $13,002,000 after buying an additional 63,834 shares in the last quarter. Brown Advisory Inc. raised its position in shares of Flowers Foods by 3.2% in the second quarter. Brown Advisory Inc. now owns 176,150 shares of the company’s stock worth $3,303,000 after buying an additional 5,475 shares during the period. Hancock Holding Co. raised its position in shares of Flowers Foods by 0.4% in the second quarter. Hancock Holding Co. now owns 450,590 shares of the company’s stock worth $8,449,000 after buying an additional 1,610 shares during the period. BTIM Corp. raised its position in shares of Flowers Foods by 310.5% in the second quarter. BTIM Corp. now owns 960,054 shares of the company’s stock worth $18,001,000 after buying an additional 726,156 shares during the period. Finally, Teacher Retirement System of Texas raised its position in shares of Flowers Foods by 13.2% in the second quarter. Teacher Retirement System of Texas now owns 26,669 shares of the company’s stock worth $500,000 after buying an additional 3,112 shares during the period. Hedge funds and other institutional investors own 69.03% of the company’s stock.
Shares of Flowers Foods Inc. (NYSE:FLO) opened at 15.11 on Tuesday. Flowers Foods Inc. has a 52-week low of $14.35 and a 52-week high of $27.31. The firm has a market capitalization of $3.13 billion, a PE ratio of 17.19 and a beta of 0.77. The stock’s 50 day moving average price is $15.12 and its 200-day moving average price is $17.50.
Flowers Foods (NYSE:FLO) last released its quarterly earnings data 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 company earned $935 million during the quarter, compared to the consensus estimate of $948.98 million. During the same quarter in the prior year, the firm posted $0.25 earnings per share. Flowers Foods’s revenue for the quarter was up 5.2% on a year-over-year basis. Equities research analysts anticipate that Flowers Foods Inc. will post $0.91 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, September 2nd were paid a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $0.64 annualized dividend and a yield of 4.24%. Flowers Foods’s dividend payout ratio is presently 72.73%.
A number of equities analysts recently issued reports on the company. Zacks Investment Research lowered Flowers Foods from a “hold” rating to a “sell” rating in a research note on Monday, July 25th. TheStreet lowered Flowers Foods from a “buy” rating to a “hold” rating in a research note on Monday, August 22nd. DA Davidson assumed coverage on Flowers Foods in a research note on Wednesday, October 5th. They issued a “neutral” rating and a $16.00 target price for the company. Pivotal Research restated a “sell” rating and issued a $4.00 target price on shares of Flowers Foods in a research note on Thursday, September 1st. Finally, Deutsche Bank AG restated a “hold” rating and issued a $19.00 target price on shares of Flowers Foods in a research note on Saturday, August 13th. Two equities 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. The stock currently has a consensus rating of “Hold” and an average target price of $17.78.
In related news, Director Margaret G. Lewis acquired 1,800 shares of the firm’s stock in a transaction on Tuesday, August 16th. The stock was bought at an average price of $15.30 per share, for a total transaction of $27,540.00. Following the completion of the purchase, the director now directly owns 13,856 shares of the company’s stock, valued at approximately $211,996.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider George E. Deese sold 462,500 shares of the company’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $15.14, for a total transaction of $7,002,250.00. Following the completion of the transaction, the insider now owns 3,288,625 shares of the company’s stock, valued at approximately $49,789,782.50. The disclosure for this sale can be found here. 16.87% of the stock is currently owned by company insiders.
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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