Flowers Foods (NYSE:FLO) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Friday.
According to Zacks, “Flowers Foods is one of the largest producers of packaged bakery foods in the United States. The company operates more than 40 highly efficient bakeries that produce a wide range of bakery food for retail and foodservice customers in the U.S. The company maintains some of the most efficient and technologically advanced bakeries in the country and has a team of outstanding employees and associates. Each bakery operates as a separate subsidiary of the company and has its own president, human resources director, and controller. Fresh breads, buns, rolls, snack cakes, and tortillas are available to approximately 80% of the U.S. population through the company’s direct-store delivery (DSD) network. “
Several other research analysts also recently issued reports on the stock. Pivotal Research reiterated a “buy” rating and set a $26.00 price target (up previously from $23.00) on shares of Flowers Foods in a research report on Friday. BMO Capital Markets boosted their price objective on Flowers Foods from $19.00 to $20.00 and gave the stock a “market perform” rating in a report on Wednesday, November 15th. SunTrust Banks reissued a “hold” rating and set a $20.00 price objective on shares of Flowers Foods in a report on Friday, November 10th. Finally, TheStreet cut Flowers Foods from a “b-” rating to a “c” rating in a report on Thursday, November 9th. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $21.20.
Flowers Foods (FLO) opened at $18.69 on Friday. The stock has a market cap of $3,920.00, a PE ratio of 46.73, a P/E/G ratio of 3.16 and a beta of 1.04. 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 has a 52-week low of $16.80 and a 52-week high of $21.00.
Flowers Foods (NYSE:FLO) last issued its quarterly earnings results on Wednesday, November 8th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.03. The business had revenue of $932.80 million for the quarter, compared to the consensus estimate of $915.55 million. Flowers Foods had a net margin of 2.16% and a return on equity of 15.16%. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.21 EPS. analysts forecast that Flowers Foods will post 0.86 earnings per share for the current year.
In other Flowers Foods news, CEO Allen L. Shiver sold 177,081 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 978,353 shares of the company’s stock, valued at approximately $18,588,707. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tonja W. Taylor sold 4,960 shares of the business’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $19.57, for a total value of $97,067.20. Following the sale, the insider now directly owns 22,055 shares of the company’s stock, valued at $431,616.35. The disclosure for this sale can be found here. Insiders have sold a total of 448,016 shares of company stock valued at $8,588,807 over the last three months. Company insiders own 15.81% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. Wellington Shields Capital Management LLC increased its stake 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 valued at $278,289,000 after acquiring an additional 7,638,437 shares during the last quarter. Hamlin Capital Management LLC increased its stake 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 valued at $72,621,000 after acquiring an additional 525,394 shares during the last quarter. Koch Industries Inc. bought a new stake in shares of Flowers Foods in the 2nd quarter valued at about $443,000. Gotham Asset Management LLC increased its stake in shares of Flowers Foods by 3,771.0% in the 2nd quarter. Gotham Asset Management LLC now owns 444,509 shares of the company’s stock valued at $7,694,000 after acquiring an additional 433,026 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Flowers Foods by 20.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,054,115 shares of the company’s stock valued at $35,558,000 after acquiring an additional 342,563 shares during the last quarter. 66.39% of the stock is owned by hedge funds and other institutional investors.
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Flowers Foods Company Profile
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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