Laurion Capital Management LP Invests $1.59 Million in Flowers Foods, Inc. (FLO)
Laurion Capital Management LP purchased a new position in Flowers Foods, Inc. (NYSE:FLO) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 76,273 shares of the company’s stock, valued at approximately $1,589,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Chicago Equity Partners LLC grew its position in shares of Flowers Foods by 2.2% in the second quarter. Chicago Equity Partners LLC now owns 122,820 shares of the company’s stock valued at $2,558,000 after purchasing an additional 2,670 shares during the period. Piermont Capital Management Inc. grew its position in shares of Flowers Foods by 2.6% in the first quarter. Piermont Capital Management Inc. now owns 108,480 shares of the company’s stock valued at $2,371,000 after purchasing an additional 2,780 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Flowers Foods by 28.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,790 shares of the company’s stock valued at $280,000 after purchasing an additional 2,814 shares during the period. Arizona State Retirement System grew its position in shares of Flowers Foods by 2.7% in the second quarter. Arizona State Retirement System now owns 128,800 shares of the company’s stock valued at $2,683,000 after purchasing an additional 3,431 shares during the period. Finally, Great West Life Assurance Co. Can grew its position in shares of Flowers Foods by 3.6% in the first quarter. Great West Life Assurance Co. Can now owns 114,029 shares of the company’s stock valued at $2,495,000 after purchasing an additional 3,989 shares during the period. 66.62% of the stock is owned by institutional investors.
FLO stock opened at $20.47 on Wednesday. Flowers Foods, Inc. has a 12-month low of $17.71 and a 12-month high of $22.82. The company has a quick ratio of 1.11, a current ratio of 1.39 and a debt-to-equity ratio of 0.63. The stock has a market cap of $4.30 billion, a price-to-earnings ratio of 23.00, a PEG ratio of 2.24 and a beta of 0.53.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 14th. Shareholders of record on Friday, August 31st will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date of this dividend is Thursday, August 30th. Flowers Foods’s dividend payout ratio (DPR) is presently 80.90%.
A number of equities research analysts have recently commented on FLO shares. Jefferies Financial Group reaffirmed a “hold” rating and issued a $19.00 price objective on shares of Flowers Foods in a research report on Friday, August 10th. Zacks Investment Research raised Flowers Foods from a “sell” rating to a “hold” rating in a research report on Tuesday, June 12th. Vertical Group downgraded Flowers Foods from a “buy” rating to a “hold” rating in a research report on Monday, July 9th. Pivotal Research reaffirmed a “buy” rating and issued a $24.00 price objective on shares of Flowers Foods in a research report on Thursday, August 9th. Finally, Consumer Edge downgraded Flowers Foods from an “overweight” rating to an “equal weight” rating in a research report on Monday, August 6th. Ten analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Flowers Foods has an average rating of “Hold” and a consensus price target of $21.80.
Flowers Foods Company Profile
Flowers Foods, Inc produces and markets bakery products in the United States. It operates through two segments, Direct-Store-Delivery (DSD) and Warehouse Delivery. The DSD segment produces and markets fresh breads, buns, rolls, tortillas, and snack cakes. This segment offers its products primarily under the Nature's Own, Wonder, Cobblestone Bread Company, Tastykake, and Dave's Killer Bread brand names.
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