Zacks Investment Research upgraded shares of Flowers Foods, Inc. (NYSE:FLO) from a hold rating to a buy rating in a report published on Monday. Zacks Investment Research currently has $21.00 target price on the stock.
According to Zacks, “Flowers Foods is one of the largest producers of packaged bakery foods in the United States. The company operates more than 40 highly efficient bakeries that produce a wide range of bakery food for retail and foodservice customers in the U.S. The company maintains some of the most efficient and technologically advanced bakeries in the country and has a team of outstanding employees and associates. Each bakery operates as a separate subsidiary of the company and has its own president, human resources director, and controller. Fresh breads, buns, rolls, snack cakes, and tortillas are available to approximately 80% of the U.S. population through the company’s direct-store delivery (DSD) network. “
FLO has been the topic of a number of other reports. BidaskClub raised shares of Flowers Foods from a buy rating to a strong-buy rating in a research note on Wednesday, August 23rd. BMO Capital Markets reissued a hold rating and issued a $19.00 target price on shares of Flowers Foods in a research note on Thursday, November 2nd. Jefferies Group LLC reissued a hold rating and issued a $19.00 target price on shares of Flowers Foods in a research note on Thursday, August 31st. TheStreet lowered shares of Flowers Foods from a b- rating to a c rating in a research note on Thursday, November 9th. Finally, SunTrust Banks, Inc. reissued 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’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $21.43.
Flowers Foods (NYSE FLO) opened at $20.16 on Monday. The company has a quick ratio of 1.01, a current ratio of 1.28 and a debt-to-equity ratio of 0.71. Flowers Foods has a 12 month low of $15.27 and a 12 month high of $21.00. The firm has a market cap of $4,097.87, a P/E ratio of 22.22, a price-to-earnings-growth ratio of 3.73 and a beta of 1.00.
Flowers Foods (NYSE:FLO) last released its earnings results on Wednesday, November 8th. The company reported $0.23 earnings per share for the quarter, topping the Zacks’ 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 analyst estimates of $915.55 million. During the same period last year, the company posted $0.21 EPS. The business’s revenue was up 1.5% on a year-over-year basis. sell-side analysts predict that Flowers Foods will post 0.86 earnings per share for the current fiscal year.
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In other news, insider Robert L. Benton, Jr. sold 18,500 shares of Flowers Foods stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $18.83, for a total transaction of $348,355.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Marta Jones Turner sold 37,062 shares of Flowers Foods stock in a transaction that occurred 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 sale, the executive vice president now directly owns 266,444 shares in the company, valued at approximately $4,772,012.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 356,816 shares of company stock worth $6,728,130. Corporate insiders own 15.81% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. California Public Employees Retirement System increased its holdings in Flowers Foods by 1.7% in the 3rd quarter. California Public Employees Retirement System now owns 509,155 shares of the company’s stock valued at $9,577,000 after purchasing an additional 8,586 shares during the last quarter. Janney Capital Management LLC acquired a new stake in Flowers Foods in the 3rd quarter valued at approximately $413,000. Vident Investment Advisory LLC acquired a new stake in Flowers Foods in the 3rd quarter valued at approximately $367,000. Dimensional Fund Advisors LP increased its holdings in Flowers Foods by 16.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,387,499 shares of the company’s stock valued at $44,908,000 after purchasing an additional 333,384 shares during the last quarter. Finally, BB&T Securities LLC acquired a new stake in Flowers Foods in the 3rd quarter valued at approximately $192,000. Hedge funds and other institutional investors own 68.69% of the company’s stock.
About Flowers Foods
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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