Flowers Foods Cut to Underperform at Zacks (FLO)
Flowers Foods (NYSE:FLO) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a note issued to investors on Tuesday. They currently have a $18.40 price objective on the stock. Zacks‘s price objective indicates a potential downside of 5.06% from the stock’s previous close.
FLO has been the subject of a number of other recent research reports. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Flowers Foods in a research note on Wednesday, August 13th. They now have a $23.00 price target on the stock, down previously from $24.00. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $23.23.
Shares of Flowers Foods (NYSE:FLO) traded down 0.05% on Tuesday, hitting $19.37. 448,866 shares of the company’s stock traded hands. Flowers Foods has a 52 week low of $18.50 and a 52 week high of $25.67. The stock’s 50-day moving average is $20.04 and its 200-day moving average is $20.44. The company has a market cap of $4.059 billion and a price-to-earnings ratio of 23.61.
Flowers Foods (NYSE:FLO) last released its earnings data on Tuesday, August 12th. The company reported $0.21 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.24 by $0.03. The company had revenue of $877.40 million for the quarter, compared to the consensus estimate of $940.83 million. Analysts expect that Flowers Foods will post $0.95 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 12th. Investors of record on Friday, August 29th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend is Wednesday, August 27th.
Flowers Foods, Inc (NYSE:FLO) is a producer and marketer of bakery products in the United States.
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