Zacks Investment Research upgraded shares of Flowers Foods (NYSE:FLO) from a sell rating to a hold rating in a research report released on Tuesday morning.
According to Zacks, “Flowers Foods is one of the largest producers of packaged bakery foods in the United States. The company operates 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. “
Other equities analysts also recently issued reports about the stock. Hilliard Lyons started coverage on shares of Flowers Foods in a research note on Tuesday, April 3rd. They set a buy rating and a $25.00 price objective for the company. KeyCorp reaffirmed a buy rating on shares of Flowers Foods in a research note on Wednesday, March 28th. ValuEngine raised shares of Flowers Foods from a hold rating to a buy rating in a research note on Wednesday, May 2nd. Deutsche Bank set a $24.00 price objective on shares of Flowers Foods and gave the company a hold rating in a research note on Tuesday, April 17th. Finally, Berenberg Bank started coverage on shares of Flowers Foods in a research note on Monday, May 21st. They set a hold rating and a $19.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Flowers Foods currently has an average rating of Hold and a consensus price target of $22.00.
Shares of Flowers Foods opened at $20.55 on Tuesday, MarketBeat Ratings reports. The stock has a market cap of $4.28 billion, a PE ratio of 21.57, a PEG ratio of 2.12 and a beta of 0.63. The company has a quick ratio of 1.13, a current ratio of 1.43 and a debt-to-equity ratio of 0.63. Flowers Foods has a 12 month low of $16.80 and a 12 month high of $22.82.
Flowers Foods (NYSE:FLO) last issued its quarterly earnings data on Wednesday, May 16th. The company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.01). The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.20 billion. Flowers Foods had a net margin of 3.58% and a return on equity of 15.87%. The business’s revenue was up 1.5% on a year-over-year basis. During the same period last year, the company posted $0.25 earnings per share. equities analysts anticipate that Flowers Foods will post 1.06 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 21st. Investors of record on Thursday, June 7th will be paid a $0.18 dividend. This is an increase from Flowers Foods’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date of this dividend is Wednesday, June 6th. Flowers Foods’s dividend payout ratio is presently 80.90%.
In related news, insider David M. Roach sold 10,500 shares of the stock in a transaction dated Tuesday, March 27th. The shares were sold at an average price of $21.11, for a total value of $221,655.00. Following the completion of the transaction, the insider now directly owns 67,801 shares of the company’s stock, valued at $1,431,279.11. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 15.20% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Piermont Capital Management Inc. raised its stake in Flowers Foods by 2.6% in the first quarter. Piermont Capital Management Inc. now owns 108,480 shares of the company’s stock worth $2,371,000 after buying an additional 2,780 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Flowers Foods by 28.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,790 shares of the company’s stock worth $280,000 after buying an additional 2,814 shares in the last quarter. Advisor Group Inc. raised its stake in Flowers Foods by 77.8% in the fourth quarter. Advisor Group Inc. now owns 6,831 shares of the company’s stock worth $132,000 after buying an additional 2,990 shares in the last quarter. Teachers Advisors LLC raised its stake in Flowers Foods by 1.7% in the fourth quarter. Teachers Advisors LLC now owns 208,562 shares of the company’s stock worth $4,027,000 after buying an additional 3,511 shares in the last quarter. Finally, Comerica Bank raised its stake in Flowers Foods by 0.5% in the first quarter. Comerica Bank now owns 776,518 shares of the company’s stock worth $17,347,000 after buying an additional 3,576 shares in the last quarter. 66.43% of the stock is owned by institutional investors.
Flowers Foods Company Profile
Flowers Foods, Inc produces and markets bakery products in the United States. It operates through two segments, Direct-Store-Delivery (DSD) and Warehouse Delivery. The DSD segment produces and markets fresh breads, buns, rolls, tortillas, and snack cakes. This segment offers its products primarily under the Nature's Own, Wonder, Cobblestone Bread Company, Tastykake, and Dave's Killer Bread brand names.
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