Public Employees Retirement System of Ohio lowered its stake in shares of Flowers Foods, Inc. (NYSE:FLO) by 10.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 95,356 shares of the company’s stock after selling 10,981 shares during the period. Public Employees Retirement System of Ohio’s holdings in Flowers Foods were worth $2,206,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in FLO. FMR LLC raised its position in shares of Flowers Foods by 131.6% in the 1st quarter. FMR LLC now owns 2,279 shares of the company’s stock worth $49,000 after buying an additional 1,295 shares during the period. AE Wealth Management LLC acquired a new position in shares of Flowers Foods in the 2nd quarter valued at about $266,000. Arizona State Retirement System lifted its stake in shares of Flowers Foods by 1.3% in the 2nd quarter. Arizona State Retirement System now owns 133,521 shares of the company’s stock valued at $3,107,000 after purchasing an additional 1,773 shares in the last quarter. Strs Ohio grew its holdings in shares of Flowers Foods by 32.5% during the 2nd quarter. Strs Ohio now owns 26,388 shares of the company’s stock worth $614,000 after purchasing an additional 6,470 shares during the period. Finally, Steward Partners Investment Advisory LLC purchased a new stake in shares of Flowers Foods during the 2nd quarter worth about $39,000. Institutional investors own 64.92% of the company’s stock.
In related news, CMO Debo Mukherjee bought 1,650 shares of the stock in a transaction dated Thursday, November 14th. The stock was acquired at an average price of $21.35 per share, for a total transaction of $35,227.50. Following the completion of the purchase, the chief marketing officer now owns 3,200 shares in the company, valued at $68,320. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 8.17% of the stock is currently owned by company insiders.
Flowers Foods (NYSE:FLO) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.22 EPS for the quarter, meeting the consensus estimate of $0.22. The company had revenue of $966.56 million for the quarter, compared to analyst estimates of $947.50 million. Flowers Foods had a return on equity of 15.74% and a net margin of 4.48%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the company posted $0.23 earnings per share. Analysts forecast that Flowers Foods, Inc. will post 0.96 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a $0.19 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.47%. Flowers Foods’s dividend payout ratio (DPR) is currently 80.85%.
Several research firms recently commented on FLO. DA Davidson cut their price target on shares of Flowers Foods from $23.00 to $21.00 and set a “neutral” rating on the stock in a report on Tuesday, November 12th. Zacks Investment Research raised shares of Flowers Foods from a “sell” rating to a “hold” rating and set a $24.00 price target on the stock in a research report on Thursday, September 19th. Finally, ValuEngine downgraded shares of Flowers Foods from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd.
Flowers Foods Profile
Flowers Foods, Inc produces and markets bakery products in the United States. The company operates through two segments, Direct-Store-Delivery and Warehouse Delivery. The Direct-Store-Delivery segment produces and markets fresh breads, buns, rolls, tortillas, and snack cakes. This segment offers its products primarily under the Nature's Own, Dave's Killer Bread, Tastykake, Wonder, and Cobblestone Bread Company brand names.
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