Flowers Foods, Inc. (NYSE:FLO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, October 17th.
According to Zacks, “Flowers Foods, Inc. is one of the largest producers and marketers of a full line of frozen and non-frozen bakery and dessert products in the United States. Flowers Foods consists of Flowers Bakeries and Mrs. Smith’s Bakeries. “
FLO has been the topic of several other research reports. BidaskClub upgraded shares of Flowers Foods from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Jefferies Group LLC reiterated a “hold” rating and set a $19.00 price target on shares of Flowers Foods in a research report on Thursday, August 31st. Finally, BMO Capital Markets reiterated a “hold” rating and set a $19.00 price target on shares of Flowers Foods in a research report on Thursday, July 20th. Five analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Flowers Foods currently has a consensus rating of “Buy” and a consensus price target of $19.67.
Flowers Foods (NYSE FLO) traded down $0.39 during mid-day trading on Tuesday, hitting $17.95. 466,344 shares of the company’s stock were exchanged, compared to its average volume of 790,479. Flowers Foods has a 12-month low of $15.05 and a 12-month high of $21.00. The stock has a market capitalization of $3,839.38, a PE ratio of 21.33, a price-to-earnings-growth ratio of 3.53 and a beta of 1.00. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.37 and a quick ratio of 1.07.
Flowers Foods (NYSE:FLO) last released its quarterly earnings data on Wednesday, August 9th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. Flowers Foods had a net margin of 4.06% and a return on equity of 14.79%. The firm had revenue of $926.64 million for the quarter, compared to analysts’ expectations of $931.26 million. During the same quarter in the previous year, the company earned $0.26 earnings per share. The company’s revenue for the quarter was down .9% compared to the same quarter last year. research analysts expect that Flowers Foods will post 0.85 EPS for the current fiscal year.
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In other Flowers Foods news, SVP Karyl H. Lauder sold 28,173 shares of the company’s stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $18.59, for a total value of $523,736.07. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Robert L. Benton, Jr. sold 15,000 shares of the company’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $18.87, for a total transaction of $283,050.00. Following the completion of the sale, the insider now owns 81,677 shares in the company, valued at approximately $1,541,244.99. The disclosure for this sale can be found here. In the last 90 days, insiders sold 98,735 shares of company stock worth $1,818,921. Corporate insiders own 15.81% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in FLO. Cadence Capital Management LLC lifted its stake in shares of Flowers Foods by 25.1% in the second quarter. Cadence Capital Management LLC now owns 34,600 shares of the company’s stock worth $599,000 after buying an additional 6,935 shares in the last quarter. Systematic Financial Management LP bought a new position in shares of Flowers Foods in the second quarter worth approximately $1,555,000. Mutual of America Capital Management LLC lifted its stake in shares of Flowers Foods by 2.4% in the third quarter. Mutual of America Capital Management LLC now owns 152,873 shares of the company’s stock worth $2,876,000 after buying an additional 3,633 shares in the last quarter. Prudential Financial Inc. lifted its stake in shares of Flowers Foods by 186.5% in the first quarter. Prudential Financial Inc. now owns 302,816 shares of the company’s stock worth $5,878,000 after buying an additional 197,120 shares in the last quarter. Finally, Janus Capital Management LLC lifted its stake in shares of Flowers Foods by 123.8% in the first quarter. Janus Capital Management LLC now owns 85,700 shares of the company’s stock worth $1,663,000 after buying an additional 47,400 shares in the last quarter. Institutional investors and hedge funds own 65.07% of the company’s stock.
Flowers Foods Company 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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