Janney Capital Management LLC acquired a new stake in Flowers Foods, Inc. (NYSE:FLO) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 22,000 shares of the company’s stock, valued at approximately $413,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Wellington Shields Capital Management LLC grew its holdings in Flowers Foods by 106.7% during 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. grew its stake 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 valued at $29,579,000 after buying an additional 934,699 shares during the period. Denver Investment Advisors LLC acquired a new stake in shares of Flowers Foods in the 2nd quarter valued at about $11,938,000. Hamlin Capital Management LLC lifted its position in Flowers Foods by 15.8% in the 3rd quarter. Hamlin Capital Management LLC now owns 3,860,784 shares of the company’s stock valued at $72,621,000 after acquiring an additional 525,394 shares in the last quarter. Finally, Koch Industries Inc. bought a new position in Flowers Foods in the 2nd quarter valued at about $443,000. Institutional investors and hedge funds own 66.44% of the company’s stock.
FLO has been the topic of several recent analyst reports. TheStreet cut shares of Flowers Foods from a “b-” rating to a “c” rating in a research report on Thursday, November 9th. Jefferies Group reiterated a “hold” rating and issued a $19.00 price objective on shares of Flowers Foods in a research note on Thursday, August 31st. Pivotal Research upgraded shares of Flowers Foods from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research note on Thursday, November 9th. Zacks Investment Research upgraded shares of Flowers Foods from a “sell” rating to a “hold” rating in a research report on Tuesday, October 17th. Finally, SunTrust Banks restated a “hold” rating and set a $20.00 price target on shares of Flowers Foods in a research report on Friday, November 10th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $21.43.
Flowers Foods, Inc. (FLO) traded down $0.08 during trading hours on Tuesday, hitting $20.18. 2,112,400 shares of the stock were exchanged, compared to its average volume of 1,366,895. The stock has a market capitalization of $4,246.69, a PE ratio of 23.02, a price-to-earnings-growth ratio of 3.85 and a beta of 1.04. Flowers Foods, Inc. has a 1 year low of $16.80 and a 1 year high of $21.00. 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 quarterly earnings results on Wednesday, November 8th. The company reported $0.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.03. Flowers Foods had a net margin of 2.16% and a return on equity of 15.16%. The business had revenue of $932.80 million for the quarter, compared to the consensus estimate of $915.55 million. During the same period last year, the firm earned $0.21 earnings per share. The company’s quarterly revenue was up 1.5% on a year-over-year basis. sell-side analysts forecast that Flowers Foods, Inc. will post 0.86 EPS for the current year.
The business 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. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.68 annualized dividend and a yield of 3.37%. Flowers Foods’s payout ratio is 170.00%.
In other Flowers Foods news, insider Tonja W. Taylor sold 4,960 shares of Flowers Foods stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $19.57, for a total value of $97,067.20. Following the completion of the transaction, the insider now directly owns 22,055 shares of the company’s stock, valued at approximately $431,616.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Allen L. Shiver sold 177,081 shares of Flowers Foods stock in a transaction on Monday, November 13th. The stock was sold at an average price of $19.00, for a total transaction of $3,364,539.00. Following the completion of the transaction, the chief executive officer now directly owns 978,353 shares of the company’s stock, valued at $18,588,707. The disclosure for this sale can be found here. Insiders have sold 509,689 shares of company stock valued at $9,743,948 over the last ninety days. 15.81% of the stock is currently owned by corporate insiders.
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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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