Insider Selling: Flowers Foods Chairman Sells 415,000 Shares of Stock (FLO)
Flowers Foods (NYSE:FLO) Chairman George E. Deese sold 415,000 shares of the company’s stock on the open market in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $19.21, for a total value of $7,972,150.00. Following the completion of the sale, the chairman now directly owns 2,241,242 shares of the company’s stock, valued at approximately $43,054,259. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Zacks downgraded shares of Flowers Foods from a “neutral” rating to an “underperform” rating in a research note on Tuesday. They now have a $18.40 price target on the stock. Separately, 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. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Flowers Foods in a research note on Tuesday, August 5th. They now have a $24.00 price target on the stock, down previously from $26.00. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $23.23.
Flowers Foods (NYSE:FLO) remained flat at $19.18 during during mid-day trading trading on Friday. 714,911 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 has a 50-day moving average of $19.90 and a 200-day moving average of $20.40. The company has a market cap of $4.019 billion and a P/E ratio of 23.36.
Flowers Foods (NYSE:FLO) last issued its quarterly earnings data on Tuesday, August 12th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the 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. On average, analysts predict that Flowers Foods will post $0.95 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 12th. Stockholders of record on Friday, August 29th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.50%. The ex-dividend date 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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