Zacks Investment Research upgraded shares of Flowers Foods, Inc. (NYSE:FLO) from a sell rating to a hold rating in a research note released on Tuesday morning.
According to Zacks, “Flowers Foods, Inc. is one of the largest producers and marketers of a full line of frozen and non-frozen bakery and dessert products in the United States. Flowers Foods consists of Flowers Bakeries and Mrs. Smith’s Bakeries. “
Several other research analysts have also recently commented on FLO. BidaskClub cut Flowers Foods from a buy rating to a hold rating in a research note on Thursday, August 3rd. BMO Capital Markets reissued a hold rating and set a $19.00 target price on shares of Flowers Foods in a research note on Thursday, July 20th. Finally, Jefferies Group LLC cut Flowers Foods from a buy rating to a hold rating and lowered their target price for the stock from $23.00 to $19.00 in a research note on Friday, July 28th. Six equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $19.67.
Flowers Foods (FLO) traded down 1.06% during trading on Tuesday, hitting $18.62. The stock had a trading volume of 164,158 shares. The company has a market cap of $3.90 billion, a P/E ratio of 24.53 and a beta of 1.01. Flowers Foods has a one year low of $15.03 and a one year high of $21.00. The firm has a 50 day moving average of $18.23 and a 200-day moving average of $18.33.
Flowers Foods (NYSE:FLO) last issued its quarterly earnings data on Wednesday, August 9th. The company reported $0.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.01. Flowers Foods had a return on equity of 14.79% and a net margin of 4.06%. The business had revenue of $926.64 million during the quarter, compared to analysts’ expectations of $931.26 million. During the same period in the previous year, the firm posted $0.26 earnings per share. The company’s revenue was down .9% on a year-over-year basis. Equities analysts anticipate that Flowers Foods will post $0.85 earnings per share for the current fiscal year.
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In other news, Chairman Amos R. Mcmullian bought 20,000 shares of Flowers Foods stock in a transaction dated Monday, August 14th. The stock was acquired at an average cost of $17.91 per share, with a total value of $358,200.00. Following the acquisition, the chairman now owns 3,643,717 shares of the company’s stock, valued at $65,258,971.47. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Robert L. Benton, Jr. sold 18,500 shares of the business’s stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $18.83, for a total value of $348,355.00. The disclosure for this sale can be found here. Insiders have sold a total of 98,735 shares of company stock valued at $1,818,921 over the last ninety days. 15.81% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Flowers Foods by 10.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,710 shares of the company’s stock valued at $116,000 after acquiring an additional 629 shares during the last quarter. Ledyard National Bank raised its stake in Flowers Foods by 6.0% during the 2nd quarter. Ledyard National Bank now owns 8,810 shares of the company’s stock valued at $153,000 after acquiring an additional 500 shares during the last quarter. Crescent Grove Advisors LLC purchased a new stake in Flowers Foods during the 2nd quarter valued at approximately $173,000. AMG National Trust Bank purchased a new stake in Flowers Foods during the 2nd quarter valued at approximately $196,000. Finally, Archford Capital Strategies LLC raised its stake in Flowers Foods by 71,581.3% during the 2nd quarter. Archford Capital Strategies LLC now owns 11,469 shares of the company’s stock valued at $628,000 after acquiring an additional 11,453 shares during the last quarter. 64.66% of the stock is owned by institutional investors and hedge funds.
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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