Equities analysts forecast that Flowers Foods, Inc. (NYSE:FLO) will report sales of $1.20 billion for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Flowers Foods’ earnings. Flowers Foods reported sales of $1.19 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 0.8%. The firm is expected to report its next quarterly earnings results on Wednesday, May 16th.
On average, analysts expect that Flowers Foods will report full-year sales of $1.20 billion for the current fiscal year, with estimates ranging from $3.93 billion to $3.96 billion. For the next financial year, analysts anticipate that the company will post sales of $4.02 billion per share, with estimates ranging from $3.95 billion to $4.07 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Flowers Foods.
Flowers Foods (NYSE:FLO) last posted its earnings results on Wednesday, February 7th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.14 by $0.03. Flowers Foods had a net margin of 3.83% and a return on equity of 15.17%. The business had revenue of $873.60 million for the quarter, compared to the consensus estimate of $860.34 million. During the same period last year, the company earned $0.16 EPS. The firm’s revenue was up .6% compared to the same quarter last year.
Several equities research analysts have recently weighed in on the company. Zacks Investment Research upgraded Flowers Foods from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research report on Monday, February 19th. Hilliard Lyons assumed coverage on Flowers Foods in a research report on Tuesday, April 3rd. They set a “buy” rating and a $25.00 price target on the stock. KeyCorp assumed coverage on Flowers Foods in a research report on Tuesday, March 27th. They set an “overweight” rating and a $24.00 price target on the stock. Pivotal Research reiterated a “buy” rating and set a $26.00 price target (up from $23.00) on shares of Flowers Foods in a research report on Friday, January 12th. Finally, Stephens reiterated a “hold” rating and set a $20.00 price target on shares of Flowers Foods in a research report on Friday, February 9th. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $22.13.
In other Flowers Foods news, insider David M. Roach sold 10,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 27th. The stock was sold at an average price of $21.11, for a total value of $221,655.00. Following the completion of the sale, the insider now owns 67,801 shares of the company’s stock, valued at $1,431,279.11. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 15.81% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Nationwide Fund Advisors raised its holdings in Flowers Foods by 8.9% in the third quarter. Nationwide Fund Advisors now owns 344,856 shares of the company’s stock worth $6,487,000 after purchasing an additional 28,076 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Flowers Foods by 7.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 673,943 shares of the company’s stock worth $12,677,000 after buying an additional 45,909 shares during the period. Great West Life Assurance Co. Can lifted its holdings in shares of Flowers Foods by 2.6% in the 3rd quarter. Great West Life Assurance Co. Can now owns 113,790 shares of the company’s stock worth $2,131,000 after buying an additional 2,920 shares during the period. Legal & General Group Plc lifted its holdings in shares of Flowers Foods by 7.5% in the 3rd quarter. Legal & General Group Plc now owns 242,520 shares of the company’s stock worth $4,562,000 after buying an additional 16,816 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Flowers Foods by 110.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 560,674 shares of the company’s stock worth $10,513,000 after buying an additional 294,482 shares during the period. 63.00% of the stock is owned by institutional investors and hedge funds.
NYSE:FLO traded down $0.19 during mid-day trading on Thursday, hitting $22.08. 1,048,767 shares of the company’s stock were exchanged, compared to its average volume of 1,070,030. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.29 and a quick ratio of 1.01. Flowers Foods has a fifty-two week low of $16.80 and a fifty-two week high of $22.50. The company has a market cap of $4,650.25, a PE ratio of 24.81, a P/E/G ratio of 3.36 and a beta of 0.67.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 16th. Investors of record on Friday, March 2nd were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend was Thursday, March 1st. Flowers Foods’s dividend payout ratio (DPR) is 76.40%.
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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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