Russell Investments Group Ltd. Has $16.66 Million Position in Flowers Foods, Inc. (FLO)
Russell Investments Group Ltd. increased its holdings in Flowers Foods, Inc. (NYSE:FLO) by 21.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 885,566 shares of the company’s stock after buying an additional 159,029 shares during the period. Russell Investments Group Ltd. owned 0.42% of Flowers Foods worth $16,658,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Deprince Race & Zollo Inc. boosted its holdings in Flowers Foods by 11.8% in the 3rd quarter. Deprince Race & Zollo Inc. now owns 1,910,316 shares of the company’s stock worth $35,933,000 after buying an additional 201,540 shares during the period. Comerica Bank boosted its holdings in Flowers Foods by 18.0% in the 3rd quarter. Comerica Bank now owns 704,693 shares of the company’s stock worth $13,157,000 after buying an additional 107,425 shares during the period. Wellington Shields Capital Management LLC boosted its holdings in Flowers Foods by 106.7% in the 3rd quarter. Wellington Shields Capital Management LLC now owns 14,794,716 shares of the company’s stock worth $278,289,000 after buying an additional 7,638,437 shares during the period. Rhumbline Advisers boosted its holdings in Flowers Foods by 1.8% in the 3rd quarter. Rhumbline Advisers now owns 388,897 shares of the company’s stock worth $7,315,000 after buying an additional 6,851 shares during the period. Finally, Retirement Systems of Alabama boosted its holdings in Flowers Foods by 46.9% in the 3rd quarter. Retirement Systems of Alabama now owns 348,700 shares of the company’s stock worth $6,559,000 after buying an additional 111,336 shares during the period. 70.14% of the stock is owned by institutional investors.
Flowers Foods, Inc. (FLO) traded up $0.19 during midday trading on Wednesday, reaching $19.60. 1,328,100 shares of the company’s stock traded hands, compared to its average volume of 1,366,588. Flowers Foods, Inc. has a fifty-two week low of $15.27 and a fifty-two week high of $21.00. The company has a quick ratio of 1.01, a current ratio of 1.28 and a debt-to-equity ratio of 0.71. The stock has a market cap of $4,064.33, a PE ratio of 22.03, a PEG ratio of 3.69 and a beta of 1.00.
Flowers Foods (NYSE:FLO) last posted its earnings results on Wednesday, November 8th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.03. Flowers Foods had a net margin of 2.16% and a return on equity of 15.16%. The business had revenue of $932.80 million for the quarter, compared to analysts’ expectations of $915.55 million. During the same period in the prior year, the company posted $0.21 EPS. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. analysts forecast that Flowers Foods, Inc. will post 0.86 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 3.47%. The ex-dividend date of this dividend is Thursday, November 30th. Flowers Foods’s dividend payout ratio is presently 170.00%.
FLO has been the subject of several analyst reports. BidaskClub raised shares of Flowers Foods from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. Zacks Investment Research raised shares of Flowers Foods from a “sell” rating to a “hold” rating in a report on Tuesday, October 17th. TheStreet downgraded shares of Flowers Foods from a “b-” rating to a “c” rating in a report on Thursday, November 9th. BMO Capital Markets reiterated a “hold” rating and issued a $19.00 target price on shares of Flowers Foods in a research note on Thursday, November 2nd. Finally, SunTrust Banks reiterated a “hold” rating and issued a $20.00 target price on shares of Flowers Foods in a research note on Friday, November 10th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $21.43.
In other Flowers Foods news, insider Robert L. Benton, Jr. sold 15,000 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $18.87, for a total value of $283,050.00. Following the sale, the insider now directly owns 81,677 shares in the company, valued at approximately $1,541,244.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tonja W. Taylor sold 4,960 shares of the firm’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $19.57, for a total transaction of $97,067.20. Following the sale, the insider now owns 22,055 shares in the company, valued at approximately $431,616.35. The disclosure for this sale can be found here. Insiders sold a total of 324,714 shares of company stock worth $6,161,417 over the last quarter. Corporate insiders own 15.81% of the company’s stock.
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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