Deprince Race & Zollo Inc. raised its position in shares of Flowers Foods Inc. (NYSE:FLO) by 107.1% during the second quarter, Holdings Channel reports. The fund owned 3,301,228 shares of the company’s stock after buying an additional 1,707,167 shares during the period. Flowers Foods comprises 1.3% of Deprince Race & Zollo Inc.’s portfolio, making the stock its 8th largest position. Deprince Race & Zollo Inc.’s holdings in Flowers Foods were worth $61,898,000 as of its most recent filing with the SEC.
A number of other institutional investors have also made changes to their positions in FLO. IFP Advisors Inc boosted its position in shares of Flowers Foods by 4.2% in the first quarter. IFP Advisors Inc now owns 10,252 shares of the company’s stock worth $189,000 after buying an additional 409 shares during the last quarter. Marshwinds Advisory Co. boosted its position in shares of Flowers Foods by 1.0% in the second quarter. Marshwinds Advisory Co. now owns 75,662 shares of the company’s stock worth $1,419,000 after buying an additional 740 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in shares of Flowers Foods by 3.9% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 29,292 shares of the company’s stock worth $549,000 after buying an additional 1,091 shares during the last quarter. Americafirst Capital Management LLC boosted its position in shares of Flowers Foods by 1.2% in the second quarter. Americafirst Capital Management LLC now owns 95,432 shares of the company’s stock worth $1,789,000 after buying an additional 1,112 shares during the last quarter. Finally, Arcadia Investment Management Corp MI boosted its position in shares of Flowers Foods by 0.7% in the second quarter. Arcadia Investment Management Corp MI now owns 154,927 shares of the company’s stock worth $2,905,000 after buying an additional 1,115 shares during the last quarter. 69.05% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Flowers Foods Inc. (NYSE:FLO) traded up 0.13% during midday trading on Friday, hitting $15.12. 2,303,402 shares of the company were exchanged. The firm’s 50 day moving average price is $15.17 and its 200 day moving average price is $17.69. Flowers Foods Inc. has a one year low of $14.35 and a one year high of $27.31. The firm has a market capitalization of $3.13 billion, a price-to-earnings ratio of 17.20 and a beta of 0.68.
Flowers Foods (NYSE:FLO) last posted its earnings results on Wednesday, August 10th. The company reported $0.26 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.26. Flowers Foods had a net margin of 4.80% and a return on equity of 16.39%. The firm had revenue of $935 million for the quarter, compared to analyst estimates of $948.98 million. During the same period in the previous year, the firm posted $0.25 EPS. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. Analysts forecast that Flowers Foods Inc. will post $0.91 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, September 2nd were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date was Wednesday, August 31st. Flowers Foods’s payout ratio is 72.73%.
A number of brokerages have issued reports on FLO. Pivotal Research reduced their price objective on shares of Flowers Foods from $8.00 to $4.00 and set a “sell” rating on the stock in a research note on Wednesday, August 10th. Deutsche Bank AG set a $19.00 target price on shares of Flowers Foods and gave the stock a “hold” rating in a report on Friday, August 5th. Jefferies Group cut their target price on shares of Flowers Foods from $23.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, August 11th. Zacks Investment Research lowered shares of Flowers Foods from a “hold” rating to a “strong sell” rating in a report on Friday, August 12th. Finally, TheStreet lowered shares of Flowers Foods from a “buy” rating to a “hold” rating in a report on Monday, August 22nd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $18.00.
In other Flowers Foods news, insider George E. Deese sold 462,500 shares of the business’s stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $15.14, for a total transaction of $7,002,250.00. Following the sale, the insider now directly owns 3,288,625 shares of the company’s stock, valued at approximately $49,789,782.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard Lan bought 14,000 shares of Flowers Foods stock in a transaction on Monday, August 22nd. The shares were acquired at an average cost of $15.18 per share, for a total transaction of $212,520.00. Following the completion of the acquisition, the director now directly owns 27,763 shares in the company, valued at $421,442.34. The disclosure for this purchase can be found here. Company insiders own 16.87% of the company’s stock.
About Flowers Foods
Flowers Foods, Inc is a producer and marketer of bakery products. The Company operates in two segments: direct-store-delivery segment (DSD Segment) and warehouse delivery segment (Warehouse Segment). The DSD segment’s production plant locations include Birmingham, Alabama; Opelika, Alabama; Tuscaloosa, Alabama; Goldsboro, North Carolina; Jamestown, North Carolina, and Oxford, Pennsylvania.
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