Flowers Foods Inc. (FLO) Given Average Recommendation of “Hold” by Brokerages
Shares of Flowers Foods Inc. (NYSE:FLO) have been assigned an average rating of “Hold” from the eleven research firms that are covering the firm. Two investment analysts have rated the stock with a sell recommendation, six have given a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $17.38.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Flowers Foods from a “hold” rating to a “sell” rating in a report on Monday, July 25th. TheStreet cut shares of Flowers Foods from a “buy” rating to a “hold” rating in a report on Monday, August 22nd. DA Davidson assumed coverage on shares of Flowers Foods in a report on Wednesday, October 5th. They issued a “neutral” rating and a $16.00 target price on the stock. Pivotal Research reaffirmed a “sell” rating and issued a $4.00 target price on shares of Flowers Foods in a report on Thursday, September 1st. Finally, Deutsche Bank AG reaffirmed a “hold” rating and issued a $19.00 target price on shares of Flowers Foods in a report on Saturday, August 13th.
Flowers Foods (NYSE:FLO) traded down 0.86% during midday trading on Monday, reaching $15.07. The company’s stock had a trading volume of 733,747 shares. The firm has a 50 day moving average price of $15.10 and a 200-day moving average price of $17.43. Flowers Foods has a 52 week low of $14.35 and a 52 week high of $27.31. The firm has a market cap of $3.12 billion, a P/E ratio of 17.14 and a beta of 0.77.
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Flowers Foods (NYSE:FLO) last issued its earnings results on Wednesday, August 10th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.26. The company had revenue of $935 million for the quarter, compared to analysts’ expectations of $948.98 million. Flowers Foods had a net margin of 4.80% and a return on equity of 16.39%. Flowers Foods’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.25 EPS. On average, analysts forecast that Flowers Foods will post $0.91 earnings per share for the current fiscal year.
In other Flowers Foods news, Chairman Amos R. Mcmullian bought 30,000 shares of the stock in a transaction dated Thursday, August 25th. The shares were bought at an average cost of $14.99 per share, with a total value of $449,700.00. Following the completion of the acquisition, the chairman now owns 3,650,940 shares of the company’s stock, valued at $54,727,590.60. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Margaret G. Lewis bought 1,800 shares of the stock in a transaction dated Tuesday, August 16th. The shares were acquired at an average cost of $15.30 per share, for a total transaction of $27,540.00. Following the completion of the acquisition, the director now directly owns 13,856 shares of the company’s stock, valued at approximately $211,996.80. The disclosure for this purchase can be found here. Insiders own 16.87% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. American Century Companies Inc. acquired a new position in shares of Flowers Foods during the second quarter valued at approximately $94,985,000. Deprince Race & Zollo Inc. raised its stake in Flowers Foods by 107.1% in the second quarter. Deprince Race & Zollo Inc. now owns 3,301,228 shares of the company’s stock valued at $61,898,000 after buying an additional 1,707,167 shares in the last quarter. Westwood Holdings Group Inc. purchased a new stake in Flowers Foods during the second quarter valued at about $24,650,000. Highbridge Capital Management LLC purchased a new stake in Flowers Foods during the second quarter valued at about $15,159,000. Finally, Emerald Acquisition Ltd. purchased a new stake in Flowers Foods during the second quarter valued at about $13,978,000. 69.00% of the stock is currently owned by institutional investors.
Flowers Foods Company Profile
Flowers Foods, Inc is a producer and marketer of bakery products. The Company operates in two segments: direct-store-delivery segment (DSD Segment) and warehouse delivery segment (Warehouse Segment). The DSD segment’s production plant locations include Birmingham, Alabama; Opelika, Alabama; Tuscaloosa, Alabama; Goldsboro, North Carolina; Jamestown, North Carolina, and Oxford, Pennsylvania.
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