Kemnay Advisory Services Inc. bought a new position in shares of Flowers Foods, Inc. (NYSE:FLO) during the third quarter, Holdings Channel reports. The fund bought 69,739 shares of the company’s stock, valued at approximately $1,301,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Centaurus Financial Inc. acquired a new stake in shares of Flowers Foods during the second quarter worth about $101,000. Bessemer Group Inc. increased its position in shares of Flowers Foods by 447.4% during the third quarter. Bessemer Group Inc. now owns 6,503 shares of the company’s stock worth $121,000 after purchasing an additional 5,315 shares in the last quarter. Signaturefd LLC increased its position in shares of Flowers Foods by 380.3% during the second quarter. Signaturefd LLC now owns 6,811 shares of the company’s stock worth $142,000 after purchasing an additional 5,393 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new stake in shares of Flowers Foods during the second quarter worth about $217,000. Finally, Baird Financial Group Inc. acquired a new stake in shares of Flowers Foods during the third quarter worth about $201,000. Institutional investors and hedge funds own 66.34% of the company’s stock.
A number of research firms have recently commented on FLO. Zacks Investment Research reiterated a “hold” rating on shares of Flowers Foods in a research report on Tuesday, November 13th. Deutsche Bank set a $18.00 target price on Flowers Foods and gave the stock a “hold” rating in a research report on Monday, November 12th. Jefferies Financial Group reissued a “hold” rating and set a $19.00 price target on shares of Flowers Foods in a report on Friday, August 10th. Finally, Pivotal Research reissued a “buy” rating and set a $24.00 price target on shares of Flowers Foods in a report on Thursday, August 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $20.50.
NYSE FLO opened at $19.36 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.12 and a current ratio of 1.42. Flowers Foods, Inc. has a 52-week low of $18.12 and a 52-week high of $22.82. The stock has a market cap of $4.17 billion, a P/E ratio of 20.81, a P/E/G ratio of 2.37 and a beta of 0.37.
Flowers Foods (NYSE:FLO) last released its quarterly earnings results on Wednesday, November 7th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.02). Flowers Foods had a return on equity of 15.61% and a net margin of 5.45%. The company had revenue of $923.45 million for the quarter, compared to analysts’ expectations of $931.87 million. During the same period in the prior year, the business earned $0.23 EPS. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. Analysts predict that Flowers Foods, Inc. will post 0.93 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date of this dividend is Thursday, November 29th. Flowers Foods’s dividend payout ratio is presently 80.90%.
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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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