Flowers Foods Inc. (FLO) Sees Large Volume Increase
Shares of Flowers Foods Inc. (NYSE:FLO) saw strong trading volume on Thursday . 10,871,038 shares traded hands during trading, an increase of 304% from the previous session’s volume of 2,692,450 shares.The stock last traded at $14.77 and had previously closed at $16.15.
A number of equities research analysts have recently issued reports on the company. Zacks Investment Research cut Flowers Foods from a “hold” rating to a “sell” rating in a research note on Monday, July 25th. BMO Capital Markets reissued a “hold” rating and set a $19.00 target price on shares of Flowers Foods in a report on Friday, May 20th. KeyCorp initiated coverage on Flowers Foods in a report on Wednesday, May 25th. They set a “sector weight” rating on the stock. 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 report on Wednesday. Finally, Deutsche Bank AG set a $19.00 target price on Flowers Foods and gave the stock a “hold” rating in a report on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $18.00.
The stock has a market cap of $3.42 billion and a PE ratio of 16.80. The company’s 50-day moving average price is $18.26 and its 200 day moving average price is $18.44.
Flowers Foods (NYSE:FLO) last issued its quarterly earnings results on Wednesday, August 10th. The company reported $0.26 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.26. The business had revenue of $935 million for the quarter, compared to the consensus estimate of $948.98 million. The business’s revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.25 earnings per share. On average, equities research analysts predict that Flowers Foods Inc. will post $1.00 earnings per share for the current year.
In related news, insider Robert B. Hysell sold 23,700 shares of Flowers Foods stock in a transaction on Friday, June 3rd. The stock was sold at an average price of $18.71, for a total transaction of $443,427.00. Following the sale, the insider now directly owns 83,554 shares in the company, valued at $1,563,295.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman George E. Deese sold 560,731 shares of Flowers Foods stock in a transaction on Friday, June 3rd. The stock was sold at an average price of $18.69, for a total value of $10,480,062.39. Following the sale, the chairman now owns 3,255,743 shares in the company, valued at $60,849,836.67. The disclosure for this sale can be found here.
A number of hedge funds have modified their holdings of the company. Airain ltd acquired a new stake in shares of Flowers Foods during the fourth quarter worth approximately $1,108,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Flowers Foods by 1.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 54,130 shares of the company’s stock worth $1,163,000 after buying an additional 733 shares in the last quarter. Russell Frank Co increased its stake in Flowers Foods by 36.0% in the fourth quarter. Russell Frank Co now owns 81,872 shares of the company’s stock worth $1,786,000 after buying an additional 21,679 shares in the last quarter. Trexquant Investment LP purchased a new stake in Flowers Foods during the fourth quarter worth about $2,205,000. Finally, Mutual of America Capital Management LLC increased its stake in Flowers Foods by 1.9% in the fourth quarter. Mutual of America Capital Management LLC now owns 125,796 shares of the company’s stock worth $2,703,000 after buying an additional 2,360 shares in the last quarter.
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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