Municipal Employees Retirement System of Michigan reduced its position in shares of Flowers Foods, Inc. (NYSE:FLO) by 21.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 55,720 shares of the company’s stock after selling 15,350 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Flowers Foods were worth $1,048,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of FLO. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of 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. Crescent Grove Advisors LLC bought a new position in shares of Flowers Foods during the 2nd quarter valued at approximately $173,000. AMG National Trust Bank bought a new position in shares of Flowers Foods during the 2nd quarter valued at approximately $196,000. Round Table Services LLC bought a new position in shares of Flowers Foods during the 3rd quarter valued at approximately $208,000. Finally, ARP Americas LLC bought a new position in shares of Flowers Foods during the 2nd quarter valued at approximately $213,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.
In other Flowers Foods news, SVP Karyl H. Lauder sold 28,173 shares of the stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $18.59, for a total value of $523,736.07. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Tonja W. Taylor sold 4,960 shares of the stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $19.57, for a total value of $97,067.20. Following the completion of the sale, the insider now owns 22,055 shares in the company, valued at approximately $431,616.35. The disclosure for this sale can be found here. In the last quarter, insiders sold 324,714 shares of company stock worth $6,161,417. Insiders own 15.81% of the company’s stock.
Shares of Flowers Foods, Inc. (NYSE:FLO) opened at $19.39 on Thursday. Flowers Foods, Inc. has a twelve month low of $15.27 and a twelve month high of $21.00. The firm has a market capitalization of $4,051.75, a price-to-earnings ratio of 21.97, a P/E/G ratio of 3.67 and a beta of 1.00. The company has a current ratio of 1.28, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71.
Flowers Foods (NYSE:FLO) last released its earnings results on Wednesday, November 8th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. Flowers Foods had a return on equity of 15.16% and a net margin of 2.16%. The business had revenue of $932.80 million for the quarter, compared to analyst estimates of $915.55 million. During the same quarter last year, the firm posted $0.21 earnings per share. The business’s revenue was up 1.5% compared to the same quarter last year. equities analysts forecast that Flowers Foods, Inc. will post 0.86 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a $0.17 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.68 dividend on an annualized basis and a yield of 3.51%. Flowers Foods’s payout ratio is 170.00%.
Several analysts recently weighed in on the company. BMO Capital Markets increased their price target on Flowers Foods from $19.00 to $20.00 and gave the company a “market perform” rating in a report on Wednesday, November 15th. BidaskClub lowered Flowers Foods from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Zacks Investment Research upgraded Flowers Foods from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a report on Monday, November 13th. SunTrust Banks, Inc. restated a “hold” rating and set a $20.00 price target on shares of Flowers Foods in a report on Friday, November 10th. Finally, TheStreet lowered Flowers Foods from a “b-” rating to a “c” rating in a report on Thursday, November 9th. Three investment 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 company. Flowers Foods presently has a consensus rating of “Buy” and an average target price of $21.43.
ILLEGAL ACTIVITY WARNING: This piece was reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this piece on another website, it was illegally stolen and republished in violation of United States and international trademark & copyright laws. The legal version of this piece can be viewed at https://www.dispatchtribunal.com/2017/11/23/municipal-employees-retirement-system-of-michigan-lowers-stake-in-flowers-foods-inc-flo.html.
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.
Want to see what other hedge funds are holding FLO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Flowers Foods, Inc. (NYSE:FLO).
Receive News & Ratings for Flowers Foods Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flowers Foods Inc. and related companies with MarketBeat.com's FREE daily email newsletter.