Tower Research Capital LLC TRC increased its position in shares of Flowers Foods Inc. (NYSE:FLO) by 33.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,742 shares of the company’s stock after buying an additional 1,455 shares during the period. Tower Research Capital LLC TRC’s holdings in Flowers Foods were worth $108,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of FLO. Invictus RG raised its position in shares of Flowers Foods by 57.3% in the first quarter. Invictus RG now owns 7,734 shares of the company’s stock worth $143,000 after buying an additional 2,817 shares in the last quarter. Hancock Holding Co. raised its position in shares of Flowers Foods by 0.5% in the first quarter. Hancock Holding Co. now owns 448,980 shares of the company’s stock worth $8,288,000 after buying an additional 2,390 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Flowers Foods by 6.1% in the first quarter. Geode Capital Management LLC now owns 1,122,000 shares of the company’s stock worth $20,711,000 after buying an additional 64,940 shares in the last quarter. AXA bought a new position in shares of Flowers Foods during the first quarter worth approximately $7,161,000. Finally, UBS Group AG raised its position in shares of Flowers Foods by 6.5% in the first quarter. UBS Group AG now owns 348,889 shares of the company’s stock worth $6,440,000 after buying an additional 21,441 shares in the last quarter. 69.03% of the stock is currently owned by institutional investors and hedge funds.
Flowers Foods Inc. (NYSE:FLO) opened at 15.20 on Friday. The company’s 50 day moving average price is $15.10 and its 200 day moving average price is $17.43. Flowers Foods Inc. has a 52-week low of $14.35 and a 52-week high of $27.31. The company has a market cap of $3.14 billion, a P/E ratio of 17.29 and a beta of 0.77.
Flowers Foods (NYSE:FLO) last announced its quarterly earnings results on Wednesday, August 10th. The company reported $0.26 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.26. The firm had revenue of $935 million for the quarter, compared to the consensus estimate of $948.98 million. Flowers Foods had a return on equity of 16.39% and a net margin of 4.80%. The business’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.25 earnings per share. Equities research analysts anticipate that Flowers Foods Inc. will post $0.91 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, September 2nd were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date of this dividend was Wednesday, August 31st. Flowers Foods’s dividend payout ratio (DPR) is presently 72.73%.
Several analysts recently weighed in on FLO shares. Zacks Investment Research downgraded Flowers Foods from a “hold” rating to a “sell” rating in a research note on Monday, July 25th. Pivotal Research decreased their target price 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 set a $19.00 target price on Flowers Foods and gave the company a “hold” rating in a research note on Friday, August 5th. Jefferies Group decreased 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 downgraded Flowers Foods from a “buy” rating to a “hold” rating in a research note on Monday, August 22nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $17.78.
In other news, Director Margaret G. Lewis bought 1,800 shares of the firm’s stock in a transaction dated Tuesday, August 16th. The shares were bought at an average price of $15.30 per share, with a total value of $27,540.00. Following the completion of the transaction, the director now owns 13,856 shares of the company’s stock, valued at $211,996.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider George E. Deese sold 462,500 shares of the company’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 value of $7,002,250.00. Following the completion of the transaction, the insider now directly owns 3,288,625 shares in the company, valued at approximately $49,789,782.50. The disclosure for this sale 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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