Flowers Foods, Inc. (FLO) Shares Bought by Credit Suisse AG
Credit Suisse AG increased its stake in shares of Flowers Foods, Inc. (NYSE:FLO) by 119.6% during the first quarter, Holdings Channel reports. The firm owned 382,958 shares of the company’s stock after buying an additional 208,607 shares during the period. Credit Suisse AG’s holdings in Flowers Foods were worth $7,433,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its position in shares of Flowers Foods by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,402,132 shares of the company’s stock valued at $28,001,000 after buying an additional 17,055 shares during the period. Credit Agricole S A boosted its position in shares of Flowers Foods by 5.6% in the fourth quarter. Credit Agricole S A now owns 22,315 shares of the company’s stock valued at $446,000 after buying an additional 1,187 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Flowers Foods by 85.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 10,131 shares of the company’s stock valued at $202,000 after buying an additional 4,654 shares during the period. Tudor Investment Corp Et Al bought a new position in shares of Flowers Foods during the fourth quarter valued at approximately $230,000. Finally, Norges Bank bought a new position in shares of Flowers Foods during the fourth quarter valued at approximately $25,343,000. 66.52% of the stock is owned by hedge funds and other institutional investors.
Shares of Flowers Foods, Inc. (FLO) opened at 17.62 on Tuesday. The company’s 50-day moving average price is $18.37 and its 200 day moving average price is $19.25. The firm has a market capitalization of $3.69 billion, a PE ratio of 22.33 and a beta of 0.97. Flowers Foods, Inc. has a 12-month low of $14.35 and a 12-month high of $21.00.
Flowers Foods (NYSE:FLO) last posted its quarterly earnings data on Wednesday, May 17th. The company reported $0.25 EPS for the quarter, meeting the consensus estimate of $0.25. Flowers Foods had a return on equity of 15.39% and a net margin of 4.22%. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter in the prior year, the business earned $0.28 earnings per share. Flowers Foods’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, equities analysts forecast that Flowers Foods, Inc. will post $0.87 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 23rd. Investors of record on Friday, June 9th were paid a $0.17 dividend. This is an increase from Flowers Foods’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Wednesday, June 7th. This represents a $0.68 annualized dividend and a yield of 3.86%. Flowers Foods’s dividend payout ratio is presently 87.18%.
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FLO has been the subject of several recent research reports. Zacks Investment Research cut Flowers Foods from a “hold” rating to a “sell” rating in a research report on Tuesday, April 18th. TheStreet raised Flowers Foods from a “c+” rating to a “b-” rating in a research report on Thursday, May 18th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $23.00 price objective on shares of Flowers Foods in a research report on Friday, May 26th. Finally, BidaskClub cut Flowers Foods from a “buy” rating to a “hold” rating in a research report on Wednesday, June 21st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. Flowers Foods currently has a consensus rating of “Hold” and an average price target of $20.14.
Flowers Foods Company Profile
Flowers Foods, Inc is a producer and marketer of packaged bakery products. The Company operates in two segments: direct-store-delivery segment (DSD Segment) and warehouse delivery segment (Warehouse Segment). The DSD segment produces fresh breads, buns, rolls, tortillas and snack cakes sold primarily by a network of independent distributors to retail and foodservice customers in the areas of the United States: East, South, Southwest, California, and select markets in the Midwest, Pacific Northwest, Nevada, and Colorado.
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