Wall Street brokerages expect Flowers Foods, Inc. (NYSE:FLO) to post $861.65 million in sales for the current quarter, according to Zacks. Two analysts have made estimates for Flowers Foods’ earnings, with the lowest sales estimate coming in at $855.30 million and the highest estimate coming in at $868.00 million. Flowers Foods reported sales of $868.72 million in the same quarter last year, which indicates a negative year-over-year growth rate of 0.8%. The business is scheduled to issue its next earnings report on Monday, February 12th.
According to Zacks, analysts expect that Flowers Foods will report full year sales of $861.65 million for the current year, with estimates ranging from $3.88 billion to $3.91 billion. For the next year, analysts forecast that the company will report sales of $3.93 billion per share, with estimates ranging from $3.91 billion to $3.95 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Flowers Foods.
Flowers Foods (NYSE:FLO) last released its quarterly earnings results on Wednesday, November 8th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.03. The company had revenue of $932.80 million during the quarter, compared to the consensus estimate of $915.55 million. Flowers Foods had a return on equity of 15.16% and a net margin of 2.16%. The firm’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.21 EPS.
Several analysts have recently issued reports on the company. BMO Capital Markets upped their price target on Flowers Foods from $19.00 to $20.00 and gave the stock a “market perform” rating in a research note on Wednesday. Zacks Investment Research upgraded Flowers Foods from a “sell” rating to a “hold” rating in a research note on Tuesday, October 17th. SunTrust Banks, Inc. reiterated a “hold” rating and set a $20.00 price target on shares of Flowers Foods in a research note on Friday, November 10th. TheStreet downgraded Flowers Foods from a “b-” rating to a “c” rating in a research note on Thursday, November 9th. Finally, BidaskClub upgraded Flowers Foods from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 23rd. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $21.43.
In related news, EVP Marta Jones Turner sold 37,062 shares of the stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $17.91, for a total transaction of $663,780.42. Following the completion of the sale, the executive vice president now owns 266,444 shares in the company, valued at approximately $4,772,012.04. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Allen L. Shiver sold 177,081 shares of the stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $19.00, for a total value of $3,364,539.00. Following the sale, the chief executive officer now owns 978,353 shares of the company’s stock, valued at approximately $18,588,707. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 356,816 shares of company stock valued at $6,728,130. 15.81% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in FLO. Wellington Shields Capital Management LLC lifted its position in shares of Flowers Foods by 106.7% in the 3rd quarter. Wellington Shields Capital Management LLC now owns 14,794,716 shares of the company’s stock worth $278,289,000 after acquiring an additional 7,638,437 shares during the period. Deprince Race & Zollo Inc. lifted its position in shares of Flowers Foods by 120.8% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 1,708,776 shares of the company’s stock worth $29,579,000 after acquiring an additional 934,699 shares during the period. Denver Investment Advisors LLC bought a new stake in shares of Flowers Foods in the 2nd quarter worth approximately $11,938,000. Hamlin Capital Management LLC lifted its position in shares of Flowers Foods by 15.8% in the 3rd quarter. Hamlin Capital Management LLC now owns 3,860,784 shares of the company’s stock worth $72,621,000 after acquiring an additional 525,394 shares during the period. Finally, Koch Industries Inc. bought a new stake in shares of Flowers Foods in the 2nd quarter worth approximately $443,000. Institutional investors own 68.69% of the company’s stock.
Shares of Flowers Foods (NYSE:FLO) opened at $19.78 on Friday. The stock has a market capitalization of $4,230.00, a PE ratio of 22.24, a PEG ratio of 3.73 and a beta of 1.00. Flowers Foods has a 52 week low of $15.27 and a 52 week high of $21.00. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.28.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.44%. Flowers Foods’s payout ratio is 170.00%.
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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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