Flowers Foods, Inc. (FLO) Earns Buy Rating from Jefferies Group LLC
Flowers Foods, Inc. (NYSE:FLO)‘s stock had its “buy” rating restated by analysts at Jefferies Group LLC in a research note issued on Friday. They currently have a $23.00 price target on the stock. Jefferies Group LLC’s price target suggests a potential upside of 23.92% from the stock’s current price.
A number of other equities research analysts also recently commented on the company. TheStreet upgraded Flowers Foods from a “c+” rating to a “b-” rating in a report on Thursday, May 18th. Zacks Investment Research downgraded Flowers Foods from a “hold” rating to a “sell” rating in a report on Friday, May 19th. Finally, Gabelli upgraded Flowers Foods from a “hold” rating to a “buy” rating in a report on Wednesday, February 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $20.14.
Flowers Foods (NYSE:FLO) traded up 0.38% during trading on Friday, hitting $18.56. The company had a trading volume of 1,626,149 shares. Flowers Foods has a 12-month low of $14.35 and a 12-month high of $21.00. The firm has a 50-day moving average of $19.26 and a 200 day moving average of $18.89. The company has a market capitalization of $3.88 billion, a price-to-earnings ratio of 23.52 and a beta of 0.87.
Flowers Foods (NYSE:FLO) last released its earnings results on Wednesday, May 17th. The company reported $0.25 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.25. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.21 billion. Flowers Foods had a return on equity of 16.42% and a net margin of 4.17%. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.28 earnings per share. On average, equities research analysts forecast that Flowers Foods will post $0.88 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 23rd. Investors of record on Friday, June 9th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date of this dividend is Wednesday, June 7th. This is an increase from Flowers Foods’s previous quarterly dividend of $0.16. Flowers Foods’s dividend payout ratio is currently 83.12%.
A number of large investors have recently added to or reduced their stakes in FLO. Janus Capital Management LLC increased its stake in Flowers Foods by 123.8% in the first quarter. Janus Capital Management LLC now owns 85,700 shares of the company’s stock worth $1,663,000 after buying an additional 47,400 shares in the last quarter. Credit Suisse AG increased its stake in Flowers Foods by 119.6% in the first quarter. Credit Suisse AG now owns 382,958 shares of the company’s stock worth $7,433,000 after buying an additional 208,607 shares in the last quarter. Tudor Investment Corp ET AL increased its stake in Flowers Foods by 38.3% in the first quarter. Tudor Investment Corp ET AL now owns 15,900 shares of the company’s stock worth $309,000 after buying an additional 4,400 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its position in Flowers Foods by 0.3% in the first quarter. Metropolitan Life Insurance Co. NY now owns 177,352 shares of the company’s stock worth $3,442,000 after buying an additional 572 shares during the last quarter. Finally, Paloma Partners Management Co acquired a new position in Flowers Foods during the first quarter worth about $229,000. Institutional investors and hedge funds own 67.50% of the company’s stock.
Flowers Foods Company Profile
Flowers Foods, Inc is a producer and marketer of packaged bakery products. The Company operates in two segments: direct-store-delivery segment (DSD Segment) and warehouse delivery segment (Warehouse Segment). The DSD segment produces fresh breads, buns, rolls, tortillas and snack cakes sold primarily by a network of independent distributors to retail and foodservice customers in the areas of the United States: East, South, Southwest, California, and select markets in the Midwest, Pacific Northwest, Nevada, and Colorado.
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