Flowers Foods, Inc. (FLO) Raised to Buy at Pivotal Research
Pivotal Research upgraded shares of Flowers Foods, Inc. (NYSE:FLO) from a hold rating to a buy rating in a report released on Thursday, MarketBeat.com reports. They currently have $23.00 price objective on the stock.
Several other analysts have also issued reports on FLO. BidaskClub raised shares of Flowers Foods from a hold rating to a buy rating in a research report on Wednesday, August 9th. Zacks Investment Research raised shares of Flowers Foods from a sell rating to a hold rating in a research report on Tuesday, October 17th. Jefferies Group LLC lowered shares of Flowers Foods from a buy rating to a hold rating and dropped their price target for the stock from $23.00 to $19.00 in a research report on Friday, July 28th. Finally, BMO Capital Markets reaffirmed a hold rating and set a $19.00 price target on shares of Flowers Foods in a research report on Thursday, November 2nd. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of Buy and an average target price of $21.33.
Shares of Flowers Foods (NYSE:FLO) traded up $0.34 during mid-day trading on Thursday, hitting $18.70. 1,386,800 shares of the stock were exchanged, compared to its average volume of 1,004,991. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.07 and a current ratio of 1.28. The company has a market capitalization of $3,919.71, a price-to-earnings ratio of 21.25, a PEG ratio of 3.55 and a beta of 1.00. Flowers Foods has a twelve month low of $15.27 and a twelve month high of $21.00.
Flowers Foods (NYSE:FLO) last announced its quarterly earnings data on Wednesday, November 8th. The company reported $0.23 EPS for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.03. The business had revenue of $932.80 million for the quarter, compared to analyst estimates of $915.55 million. Flowers Foods had a net margin of 2.16% and a return on equity of 15.16%. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.21 earnings per share. equities analysts predict that Flowers Foods will post 0.86 EPS for the current year.
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In other Flowers Foods news, insider Robert L. Benton, Jr. sold 18,500 shares of the company’s stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $18.83, for a total value of $348,355.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Amos R. Mcmullian acquired 20,000 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was bought at an average price of $17.91 per share, for a total transaction of $358,200.00. Following the completion of the acquisition, the chairman now owns 3,643,717 shares of the company’s stock, valued at $65,258,971.47. The disclosure for this purchase can be found here. Insiders have sold 98,735 shares of company stock worth $1,818,921 over the last ninety days. Insiders own 15.81% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the business. Wellington Shields Capital Management LLC increased its holdings in shares of Flowers Foods by 106.7% in the third quarter. Wellington Shields Capital Management LLC now owns 14,794,716 shares of the company’s stock valued at $278,289,000 after purchasing an additional 7,638,437 shares during the last quarter. State Street Corp increased its holdings in shares of Flowers Foods by 1.1% in the second quarter. State Street Corp now owns 4,781,357 shares of the company’s stock valued at $82,762,000 after purchasing an additional 53,592 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Flowers Foods by 5.7% in the second quarter. Bank of New York Mellon Corp now owns 4,216,755 shares of the company’s stock valued at $72,992,000 after purchasing an additional 226,529 shares during the last quarter. Hamlin Capital Management LLC increased its holdings in shares of Flowers Foods by 15.8% in the third quarter. Hamlin Capital Management LLC now owns 3,860,784 shares of the company’s stock valued at $72,621,000 after purchasing an additional 525,394 shares during the last quarter. Finally, Cramer Rosenthal Mcglynn LLC increased its holdings in shares of Flowers Foods by 0.6% in the second quarter. Cramer Rosenthal Mcglynn LLC now owns 2,160,859 shares of the company’s stock valued at $37,404,000 after purchasing an additional 12,272 shares during the last quarter. Hedge funds and other institutional investors own 65.07% 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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