Synovus Financial Corp grew its holdings in Flowers Foods, Inc. (NYSE:FLO) by 3.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,681 shares of the company’s stock after purchasing an additional 1,040 shares during the period. Synovus Financial Corp’s holdings in Flowers Foods were worth $479,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in FLO. Bronfman E.L. Rothschild L.P. increased its stake in shares of Flowers Foods by 58.8% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 5,195 shares of the company’s stock worth $101,000 after acquiring an additional 1,923 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Flowers Foods by 10.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,710 shares of the company’s stock valued at $116,000 after purchasing an additional 629 shares during the last quarter. Ledyard National Bank grew its position in shares of Flowers Foods by 6.0% in the second quarter. Ledyard National Bank now owns 8,810 shares of the company’s stock valued at $153,000 after purchasing an additional 500 shares during the last quarter. Crescent Grove Advisors LLC acquired a new stake in shares of Flowers Foods in the second quarter valued at about $173,000. Finally, ARP Americas LLC acquired a new stake in shares of Flowers Foods in the second quarter valued at about $213,000. Institutional investors own 64.66% of the company’s stock.
Shares of Flowers Foods, Inc. (NYSE:FLO) opened at 18.22 on Friday. The company has a 50 day moving average of $17.70 and a 200-day moving average of $18.46. Flowers Foods, Inc. has a one year low of $14.60 and a one year high of $21.00. The firm has a market cap of $3.81 billion, a price-to-earnings ratio of 24.00 and a beta of 0.98.
Flowers Foods (NYSE:FLO) last announced its quarterly earnings data on Wednesday, August 9th. The company reported $0.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.01. The firm had revenue of $926.64 million during the quarter, compared to analyst estimates of $931.26 million. Flowers Foods had a net margin of 4.06% and a return on equity of 14.79%. During the same period in the previous year, the business posted $0.26 EPS. The business’s quarterly revenue was down .9% on a year-over-year basis. On average, analysts expect that Flowers Foods, Inc. will post $0.85 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.68 dividend on an annualized basis and a yield of 3.73%. Flowers Foods’s dividend payout ratio is currently 90.67%.
In other Flowers Foods news, EVP Marta Jones Turner sold 37,062 shares of the business’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $17.91, for a total transaction of $663,780.42. Following the transaction, the executive vice president now directly owns 266,444 shares of the company’s stock, valued at approximately $4,772,012.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Amos R. Mcmullian acquired 20,000 shares of Flowers Foods stock in a transaction on Monday, August 14th. The shares were bought at an average cost of $17.91 per share, for a total transaction of $358,200.00. Following the completion of the transaction, the chairman now owns 3,643,717 shares in the company, valued at approximately $65,258,971.47. The disclosure for this purchase can be found here. Corporate insiders own 15.81% of the company’s stock.
FLO has been the topic of several research analyst reports. BidaskClub raised Flowers Foods from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. Jefferies Group LLC cut shares of Flowers Foods from a “buy” rating to a “hold” rating and reduced their target price for the company from $23.00 to $19.00 in a research note on Friday, July 28th. Zacks Investment Research cut shares of Flowers Foods from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. TheStreet upgraded shares of Flowers Foods from a “c+” rating to a “b-” rating in a research note on Thursday, May 18th. Finally, BMO Capital Markets restated a “hold” rating and set a $19.00 price target on shares of Flowers Foods in a research note on Thursday, July 20th. One research analyst has rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $19.67.
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.
Receive News & Ratings for Flowers Foods Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flowers Foods Inc. and related companies with our FREE daily email newsletter.