Zacks Investment Research Lowers Flowers Foods, Inc. (FLO) to Sell
Flowers Foods, Inc. (NYSE:FLO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Friday.
According to Zacks, “Flowers Foods, Inc. is one of the largest producers and marketers of a full line of frozen and non-frozen bakery and dessert products in the United States. Flowers Foods consists of Flowers Bakeries and Mrs. Smith’s Bakeries. “
Other equities research analysts also recently issued reports about the company. BidaskClub upgraded Flowers Foods from a “hold” rating to a “buy” rating in a report on Wednesday. TheStreet upgraded Flowers Foods from a “c+” rating to a “b-” rating in a report on Thursday, May 18th. Jefferies Group LLC downgraded Flowers Foods from a “buy” rating to a “hold” rating and reduced their price target for the stock from $23.00 to $19.00 in a report on Friday, July 28th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $19.00 price target on shares of Flowers Foods in a report on Thursday, July 20th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. Flowers Foods has an average rating of “Hold” and a consensus target price of $19.57.
Shares of Flowers Foods (NYSE FLO) traded up 1.61% during trading on Friday, reaching $17.68. The company’s stock had a trading volume of 1,965,930 shares. Flowers Foods has a 12-month low of $14.51 and a 12-month high of $21.00. The stock has a market cap of $3.70 billion, a price-to-earnings ratio of 23.29 and a beta of 0.97. The company has a 50 day moving average of $17.53 and a 200-day moving average of $18.81.
Flowers Foods (NYSE:FLO) last issued its quarterly earnings results on Wednesday, August 9th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.01. Flowers Foods had a return on equity of 14.96% and a net margin of 4.06%. The firm had revenue of $926.64 million for the quarter, compared to the consensus estimate of $931.26 million. During the same period in the prior year, the business posted $0.26 earnings per share. The company’s revenue for the quarter was down .9% on a year-over-year basis. Analysts forecast that Flowers Foods will post $0.87 EPS for the current year.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FLO. Teachers Advisors LLC increased its position in Flowers Foods by 3.3% in the fourth quarter. Teachers Advisors LLC now owns 166,593 shares of the company’s stock valued at $3,327,000 after buying an additional 5,286 shares during the last quarter. Parametrica Management Ltd purchased a new position in Flowers Foods during the first quarter valued at approximately $229,000. Americafirst Capital Management LLC purchased a new position in Flowers Foods during the first quarter valued at approximately $1,683,000. Louisiana State Employees Retirement System increased its position in Flowers Foods by 2.7% in the first quarter. Louisiana State Employees Retirement System now owns 46,400 shares of the company’s stock valued at $901,000 after buying an additional 1,200 shares during the last quarter. Finally, Edmp Inc. purchased a new position in Flowers Foods during the first quarter valued at approximately $194,000. Institutional investors own 66.64% of the company’s stock.
About Flowers Foods
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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