Great West Life Assurance Co. Can Buys 7,306 Shares of Flowers Foods Inc. (FLO)
Great West Life Assurance Co. Can increased its stake in Flowers Foods Inc. (NYSE:FLO) by 6.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 112,702 shares of the company’s stock after buying an additional 7,306 shares during the period. Great West Life Assurance Co. Can owned 0.05% of Flowers Foods worth $1,704,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Flowers Foods by 4.3% in the second quarter. Vanguard Group Inc. now owns 15,262,447 shares of the company’s stock valued at $286,171,000 after buying an additional 627,379 shares during the period. BlackRock Fund Advisors increased its stake in shares of Flowers Foods by 2.6% in the second quarter. BlackRock Fund Advisors now owns 6,473,027 shares of the company’s stock valued at $121,369,000 after buying an additional 161,456 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in shares of Flowers Foods by 4.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 5,485,227 shares of the company’s stock valued at $102,848,000 after buying an additional 217,116 shares during the period. American Century Companies Inc. bought a new stake in shares of Flowers Foods during the second quarter valued at about $94,985,000. Finally, Champlain Investment Partners LLC increased its stake in shares of Flowers Foods by 16.1% in the second quarter. Champlain Investment Partners LLC now owns 4,162,430 shares of the company’s stock valued at $78,046,000 after buying an additional 576,835 shares during the period. 69.47% of the stock is currently owned by institutional investors and hedge funds.
Shares of Flowers Foods Inc. (NYSE:FLO) traded down 1.27% during trading on Tuesday, hitting $15.58. The company had a trading volume of 1,977,077 shares. Flowers Foods Inc. has a 12-month low of $14.35 and a 12-month high of $23.77. The stock has a market cap of $3.23 billion, a PE ratio of 17.93 and a beta of 0.83. The firm has a 50 day moving average of $15.54 and a 200 day moving average of $16.72.
Flowers Foods (NYSE:FLO) last released its quarterly earnings data on Wednesday, November 9th. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.21 by $0.00. Flowers Foods had a net margin of 4.67% and a return on equity of 16.16%. The company earned $918.80 million during the quarter, compared to the consensus estimate of $923.81 million. During the same quarter in the prior year, the company posted $0.23 earnings per share. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, analysts forecast 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 will be paid on Friday, December 16th. Investors of record on Friday, December 2nd will be given a dividend of $0.16 per share. The ex-dividend date is Wednesday, November 30th. This represents a $0.64 dividend on an annualized basis and a yield of 4.11%. Flowers Foods’s dividend payout ratio (DPR) is presently 74.42%.
Several analysts have weighed in on FLO shares. Jefferies Group cut 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. Pivotal Research cut 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. Zacks Investment Research raised Flowers Foods from a “sell” rating to a “hold” rating in a research note on Monday, August 1st. BMO Capital Markets reaffirmed a “hold” rating and set a $17.00 target price on shares of Flowers Foods in a research note on Friday, November 11th. Finally, Deutsche Bank AG set a $19.00 target price on Flowers Foods and gave the company a “hold” rating in a research note on Friday, August 5th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. Flowers Foods has a consensus rating of “Hold” and an average target price of $17.56.
In related news, SVP Tonja W. Taylor sold 4,425 shares of the stock in a transaction that occurred on Friday, November 18th. The stock was sold at an average price of $15.91, for a total transaction of $70,401.75. Following the sale, the senior vice president now directly owns 17,594 shares in the company, valued at approximately $279,920.54. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Brad K. Alexander sold 69,850 shares of the stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $16.23, for a total value of $1,133,665.50. Following the sale, the chief operating officer now owns 300,685 shares in the company, valued at $4,880,117.55. The disclosure for this sale can be found here. Corporate insiders own 16.87% of the company’s stock.
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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