Flowers Foods, Inc. (NYSE:FLO) Given Average Rating of “Hold” by Brokerages
Flowers Foods, Inc. (NYSE:FLO) has been given a consensus recommendation of “Hold” by the eleven ratings firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $20.33.
Several research firms have recently weighed in on FLO. BidaskClub cut Flowers Foods from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. TheStreet raised Flowers Foods from a “c+” rating to a “b-” rating in a research report on Thursday, May 18th. Zacks Investment Research raised Flowers Foods from a “sell” rating to a “hold” rating in a research report on Tuesday, May 9th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $23.00 price objective on shares of Flowers Foods in a research report on Friday, May 26th.
A number of hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its stake in Flowers Foods by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,402,132 shares of the company’s stock valued at $28,001,000 after buying an additional 17,055 shares in the last quarter. Credit Agricole S A raised its stake in Flowers Foods by 5.6% in the fourth quarter. Credit Agricole S A now owns 22,315 shares of the company’s stock valued at $446,000 after buying an additional 1,187 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Flowers Foods by 85.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 10,131 shares of the company’s stock valued at $202,000 after buying an additional 4,654 shares in the last quarter. Tudor Investment Corp Et Al acquired a new stake in Flowers Foods during the fourth quarter valued at about $230,000. Finally, Norges Bank acquired a new stake in Flowers Foods during the fourth quarter valued at about $25,343,000. Hedge funds and other institutional investors own 66.52% of the company’s stock.
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Shares of Flowers Foods (FLO) traded down 1.21% during mid-day trading on Monday, hitting $17.10. The stock had a trading volume of 1,295,808 shares. Flowers Foods has a one year low of $14.35 and a one year high of $21.00. The company has a 50-day moving average of $18.37 and a 200 day moving average of $19.25. The firm has a market cap of $3.58 billion, a price-to-earnings ratio of 21.67 and a beta of 0.96.
Flowers Foods (NYSE:FLO) last posted its earnings results on Wednesday, May 17th. The company reported $0.25 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.25. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Flowers Foods had a return on equity of 15.39% and a net margin of 4.22%. The company’s revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.28 earnings per share. On average, equities research analysts forecast that Flowers Foods will post $0.87 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 23rd. Shareholders of record on Friday, June 9th were paid a $0.17 dividend. This is a positive change from Flowers Foods’s previous quarterly dividend of $0.16. The ex-dividend date was Wednesday, June 7th. This represents a $0.68 annualized dividend and a yield of 3.98%. Flowers Foods’s dividend payout ratio is currently 87.18%.
About Flowers Foods
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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