Teacher Retirement System of Texas raised its stake in Flowers Foods Inc. (NYSE:FLO) by 13.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 26,669 shares of the company’s stock after buying an additional 3,112 shares during the period. Teacher Retirement System of Texas’ holdings in Flowers Foods were worth $500,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of FLO. American Century Companies Inc. purchased a new stake in shares of Flowers Foods during the second quarter valued at about $94,985,000. Norges Bank purchased a new stake in shares of Flowers Foods during the fourth quarter valued at about $42,139,000. Deprince Race & Zollo Inc. raised its stake in shares of Flowers Foods by 107.1% in the second quarter. Deprince Race & Zollo Inc. now owns 3,301,228 shares of the company’s stock valued at $61,898,000 after buying an additional 1,707,167 shares during the period. Emerald Acquisition Ltd. purchased a new stake in shares of Flowers Foods during the second quarter valued at about $13,978,000. Finally, First Trust Advisors LP raised its stake in shares of Flowers Foods by 35.5% in the second quarter. First Trust Advisors LP now owns 2,602,382 shares of the company’s stock valued at $48,795,000 after buying an additional 681,321 shares during the period. Institutional investors and hedge funds own 69.05% of the company’s stock.
Shares of Flowers Foods Inc. (NYSE:FLO) traded up 0.505% on Wednesday, reaching $14.935. The company had a trading volume of 644,669 shares. The stock’s 50 day moving average is $15.17 and its 200 day moving average is $17.61. Flowers Foods Inc. has a 52 week low of $14.35 and a 52 week high of $27.31. The firm has a market capitalization of $3.09 billion, a price-to-earnings ratio of 16.991 and a beta of 0.77.
Flowers Foods (NYSE:FLO) last issued its quarterly earnings results on Wednesday, August 10th. The company reported $0.26 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.26. Flowers Foods had a return on equity of 16.39% and a net margin of 4.80%. The business earned $935 million during the quarter, compared to analyst estimates of $948.98 million. During the same quarter in the prior year, the business posted $0.25 EPS. Flowers Foods’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, equities analysts anticipate that Flowers Foods Inc. will post $0.91 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, September 2nd were given a dividend of $0.16 per share. The ex-dividend date was Wednesday, August 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.31%. Flowers Foods’s payout ratio is 72.73%.
FLO has been the subject of several research analyst reports. Pivotal Research dropped their price target on Flowers Foods from $8.00 to $4.00 and set a “sell” rating for the company in a research note on Wednesday, August 10th. Deutsche Bank AG reissued a “hold” rating and issued a $19.00 target price on shares of Flowers Foods in a research note on Saturday, August 13th. Zacks Investment Research lowered Flowers Foods from a “hold” rating to a “sell” rating in a research note on Monday, July 25th. Jefferies Group lowered their target price on Flowers Foods from $23.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, August 11th. Finally, TheStreet lowered Flowers Foods from a “buy” rating to a “hold” rating in a research note on Monday, August 22nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $17.78.
In other news, Chairman Amos R. Mcmullian acquired 30,000 shares of the business’s stock in a transaction dated Thursday, August 25th. The stock was purchased at an average price of $14.99 per share, for a total transaction of $449,700.00. Following the completion of the transaction, the chairman now directly owns 3,650,940 shares in the company, valued at approximately $54,727,590.60. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, insider George E. Deese sold 462,500 shares of the firm’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $15.14, for a total value of $7,002,250.00. Following the transaction, the insider now owns 3,288,625 shares of the company’s stock, valued at approximately $49,789,782.50. The disclosure for this sale can be found here. 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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