OLD Republic International Corp Continues to Hold Position in Flowers Foods, Inc. (NYSE:FLO)
OLD Republic International Corp held its stake in shares of Flowers Foods, Inc. (NYSE:FLO) during the second quarter, Holdings Channel reports. The fund owned 1,210,000 shares of the company’s stock at the end of the second quarter. OLD Republic International Corp’s holdings in Flowers Foods were worth $20,945,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. BlackRock Inc. raised its stake in shares of Flowers Foods by 13,803.5% in the first quarter. BlackRock Inc. now owns 14,447,449 shares of the company’s stock worth $280,425,000 after buying an additional 14,343,537 shares in the last quarter. Wellington Shields & Co. LLC raised its stake in shares of Flowers Foods by 4,668.7% in the first quarter. Wellington Shields & Co. LLC now owns 6,665,434 shares of the company’s stock worth $129,376,000 after buying an additional 6,525,659 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Flowers Foods by 48.2% in the first quarter. Bank of New York Mellon Corp now owns 3,990,226 shares of the company’s stock worth $77,450,000 after buying an additional 1,297,541 shares in the last quarter. Cornerstone Capital Management Holdings LLC. acquired a new stake in shares of Flowers Foods during the first quarter worth $15,972,000. Finally, Champlain Investment Partners LLC raised its stake in shares of Flowers Foods by 7.9% in the first quarter. Champlain Investment Partners LLC now owns 5,441,170 shares of the company’s stock worth $105,613,000 after buying an additional 400,290 shares in the last quarter. Hedge funds and other institutional investors own 66.64% of the company’s stock.
Flowers Foods, Inc. (FLO) opened at 17.68 on Friday. The stock has a market cap of $3.70 billion, a PE ratio of 23.29 and a beta of 0.97. The stock has a 50 day moving average price of $17.53 and a 200 day moving average price of $18.81. Flowers Foods, Inc. has a 1-year low of $14.51 and a 1-year high of $21.00.
Flowers Foods (NYSE:FLO) last announced its earnings results on Wednesday, August 9th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.01. Flowers Foods had a return on equity of 14.79% and a net margin of 4.06%. The business had revenue of $926.64 million for the quarter, compared to analysts’ expectations of $931.26 million. During the same quarter last year, the firm earned $0.26 EPS. The business’s revenue for the quarter was down .9% on a year-over-year basis. On average, analysts predict that Flowers Foods, Inc. will post $0.87 EPS for the current fiscal year.
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FLO has been the subject of a number of research analyst reports. Zacks Investment Research cut Flowers Foods from a “hold” rating to a “sell” rating in a research note on Tuesday, April 18th. BidaskClub upgraded Flowers Foods from a “hold” rating to a “buy” rating in a research note on Thursday, June 29th. TheStreet upgraded Flowers Foods from a “c+” rating to a “b-” rating in a research note on Thursday, May 18th. Jefferies Group LLC cut Flowers Foods from a “buy” rating to a “hold” rating and lowered their target price for the company from $23.00 to $19.00 in a research note on Friday, July 28th. Finally, BMO Capital Markets restated a “hold” rating and issued a $19.00 target price on shares of Flowers Foods in a research note on Thursday, July 20th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. Flowers Foods currently has an average rating of “Hold” and a consensus target price of $19.57.
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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