Nuveen Asset Management LLC Reduces Stake in Flowers Foods, Inc. (FLO)
Nuveen Asset Management LLC cut its position in Flowers Foods, Inc. (NYSE:FLO) by 23.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,490 shares of the company’s stock after selling 16,480 shares during the period. Nuveen Asset Management LLC’s holdings in Flowers Foods were worth $1,058,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of FLO. Janus Capital Management LLC increased its position in Flowers Foods by 123.8% in the first quarter. Janus Capital Management LLC now owns 85,700 shares of the company’s stock worth $1,663,000 after buying an additional 47,400 shares during the period. Credit Suisse AG increased its position in Flowers Foods by 119.6% in the first quarter. Credit Suisse AG now owns 382,958 shares of the company’s stock worth $7,433,000 after buying an additional 208,607 shares during the period. Tudor Investment Corp ET AL increased its position in Flowers Foods by 38.3% in the first quarter. Tudor Investment Corp ET AL now owns 15,900 shares of the company’s stock worth $309,000 after buying an additional 4,400 shares during the period. Metropolitan Life Insurance Co. NY increased its position in Flowers Foods by 0.3% in the first quarter. Metropolitan Life Insurance Co. NY now owns 177,352 shares of the company’s stock worth $3,442,000 after buying an additional 572 shares during the period. Finally, Paloma Partners Management Co purchased a new position in Flowers Foods during the first quarter worth about $229,000. Institutional investors and hedge funds own 66.52% of the company’s stock.
Flowers Foods, Inc. (FLO) opened at 17.80 on Friday. The company has a market capitalization of $3.72 billion, a P/E ratio of 22.56 and a beta of 0.96. The stock’s 50 day moving average price is $17.76 and its 200 day moving average price is $19.04. Flowers Foods, Inc. has a one year low of $14.35 and a one year high of $21.00.
Flowers Foods (NYSE:FLO) last issued its quarterly earnings data on Wednesday, May 17th. The company reported $0.25 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.25. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Flowers Foods had a return on equity of 15.39% and a net margin of 4.22%. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.28 EPS. Equities analysts anticipate that Flowers Foods, Inc. will post $0.87 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 23rd. Investors of record on Friday, June 9th were paid a dividend of $0.17 per share. This is a boost from Flowers Foods’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date of this dividend was Wednesday, June 7th. Flowers Foods’s dividend payout ratio is 87.18%.
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A number of research firms have issued reports on FLO. BMO Capital Markets reiterated a “hold” rating and issued a $19.00 price objective on shares of Flowers Foods in a report on Thursday. Zacks Investment Research upgraded Flowers Foods from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. BidaskClub downgraded Flowers Foods from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. Jefferies Group LLC reiterated a “buy” rating and issued a $23.00 price objective on shares of Flowers Foods in a report on Friday, May 26th. Finally, TheStreet upgraded Flowers Foods from a “c+” rating to a “b-” rating in a report on Thursday, May 18th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price 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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