Flowers Foods, Inc. (NYSE:FLO) announced a quarterly dividend on Friday, February 16th, RTT News reports. Stockholders of record on Friday, March 2nd will be paid a dividend of 0.17 per share on Friday, March 16th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.19%.
Flowers Foods has raised its dividend payment by an average of 11.4% per year over the last three years and has increased its dividend every year for the last 12 years. Flowers Foods has a dividend payout ratio of 79.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect Flowers Foods to earn $1.10 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 61.8%.
Shares of Flowers Foods (NYSE FLO) opened at $21.35 on Friday. Flowers Foods has a 1 year low of $16.80 and a 1 year high of $21.46. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.01 and a current ratio of 1.27. The stock has a market cap of $4,382.94, a price-to-earnings ratio of 30.07, a PEG ratio of 3.20 and a beta of 0.91.
Flowers Foods (NYSE:FLO) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. Flowers Foods had a net margin of 3.83% and a return on equity of 15.17%. The firm had revenue of $873.60 million during the quarter, compared to the consensus estimate of $860.34 million. During the same quarter in the previous year, the firm posted $0.16 EPS. The company’s revenue for the quarter was up .6% compared to the same quarter last year. sell-side analysts forecast that Flowers Foods will post 1.07 earnings per share for the current year.
Several research analysts recently weighed in on the stock. TheStreet raised shares of Flowers Foods from a “c+” rating to a “b” rating in a report on Wednesday, February 7th. Pivotal Research dropped their target price on shares of Flowers Foods to $26.00 and set a “buy” rating for the company in a report on Thursday, February 8th. Stephens reaffirmed a “hold” rating and issued a $20.00 target price on shares of Flowers Foods in a report on Friday, February 9th. BMO Capital Markets upped their target price on shares of Flowers Foods from $19.00 to $20.00 and gave the stock a “market perform” rating in a report on Wednesday, November 15th. Finally, Zacks Investment Research downgraded shares of Flowers Foods from a “hold” rating to a “sell” rating in a report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $21.00.
In related news, CFO R Steve Kinsey sold 116,067 shares of the company’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $19.39, for a total value of $2,250,539.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Stephen R. Avera sold 68,908 shares of the business’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $19.33, for a total transaction of $1,331,991.64. Following the completion of the sale, the insider now owns 553,989 shares in the company, valued at approximately $10,708,607.37. The disclosure for this sale can be found here. Insiders sold a total of 189,935 shares of company stock valued at $3,679,598 in the last ninety days. 15.81% of the stock is currently owned by insiders.
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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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