Flowers Foods, Inc. (FLO) Shares Sold by Northwestern Mutual Investment Management Company LLC
Northwestern Mutual Investment Management Company LLC lessened its stake in Flowers Foods, Inc. (NYSE:FLO) by 0.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,424 shares of the company’s stock after selling 257 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Flowers Foods were worth $589,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of FLO. BlackRock Inc. grew its position in Flowers Foods by 13,803.5% in the 1st quarter. BlackRock Inc. now owns 14,447,449 shares of the company’s stock worth $280,425,000 after purchasing an additional 14,343,537 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Flowers Foods by 48.2% during the 1st quarter. Bank of New York Mellon Corp now owns 3,990,226 shares of the company’s stock worth $77,450,000 after acquiring an additional 1,297,541 shares during the last quarter. Deprince Race & Zollo Inc. boosted its stake in shares of Flowers Foods by 120.8% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 1,708,776 shares of the company’s stock worth $29,579,000 after acquiring an additional 934,699 shares during the last quarter. Cornerstone Capital Management Holdings LLC. purchased a new position in shares of Flowers Foods during the 1st quarter worth $15,972,000. Finally, Denver Investment Advisors LLC purchased a new position in shares of Flowers Foods during the 2nd quarter worth $11,938,000. 64.66% of the stock is owned by institutional investors and hedge funds.
In other news, EVP Marta Jones Turner sold 37,062 shares of the firm’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $17.91, for a total value of $663,780.42. Following the transaction, the executive vice president now directly owns 266,444 shares of the company’s stock, valued at $4,772,012.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Amos R. Mcmullian purchased 20,000 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was acquired at an average cost of $17.91 per share, for a total transaction of $358,200.00. Following the completion of the purchase, the chairman now owns 3,643,717 shares of the company’s stock, valued at approximately $65,258,971.47. The disclosure for this purchase can be found here. Company insiders own 15.81% of the company’s stock.
Shares of Flowers Foods, Inc. (FLO) opened at 18.12 on Tuesday. The company has a market capitalization of $3.79 billion, a P/E ratio of 23.87 and a beta of 0.98. The stock has a 50 day moving average of $17.66 and a 200-day moving average of $18.47. Flowers Foods, Inc. has a 12-month low of $14.60 and a 12-month high of $21.00.
Flowers Foods (NYSE:FLO) last posted its quarterly earnings results on Wednesday, August 9th. The company reported $0.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.01. The firm had revenue of $926.64 million for the quarter, compared to the consensus estimate of $931.26 million. Flowers Foods had a net margin of 4.06% and a return on equity of 14.79%. The company’s revenue for the quarter was down .9% on a year-over-year basis. During the same period last year, the firm posted $0.26 earnings per share. Equities research analysts forecast that Flowers Foods, Inc. will post $0.85 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 3.75%. The ex-dividend date is Wednesday, August 30th. Flowers Foods’s dividend payout ratio is currently 90.67%.
FLO has been the topic of several analyst reports. BidaskClub upgraded shares of Flowers Foods from a “hold” rating to a “buy” rating in a research note on Thursday, June 29th. Zacks Investment Research upgraded shares of Flowers Foods from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th. Jefferies Group LLC cut shares of 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. TheStreet upgraded shares of Flowers Foods from a “c+” rating to a “b-” rating in a research note on Thursday, May 18th. Finally, BMO Capital Markets restated a “hold” rating and set 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, three have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $19.67.
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Flowers Foods 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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