Flowers Foods, Inc. (NYSE:FLO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.

According to Zacks, “Flowers Foods, Inc. is one of the largest producers and marketers of a full line of frozen and non-frozen bakery and dessert products in the United States. Flowers Foods consists of Flowers Bakeries and Mrs. Smith’s Bakeries. “

Other research analysts have also recently issued research reports about the stock. BidaskClub upgraded shares of Flowers Foods from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. TheStreet upgraded shares of Flowers Foods from a “c+” rating to a “b-” rating in a research report on Thursday, May 18th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $23.00 price objective on shares of Flowers Foods in a research report on Friday, May 26th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $20.14.

Shares of Flowers Foods (NYSE FLO) traded down 0.74% during midday trading on Tuesday, reaching $17.49. 1,017,089 shares of the company’s stock traded hands. Flowers Foods has a one year low of $14.35 and a one year high of $21.00. The company has a market capitalization of $3.66 billion, a price-to-earnings ratio of 22.17 and a beta of 0.97. The company has a 50-day moving average of $18.37 and a 200-day moving average of $19.25.

Flowers Foods (NYSE:FLO) last posted its quarterly earnings data on Wednesday, May 17th. The company reported $0.25 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.25. Flowers Foods had a net margin of 4.22% and a return on equity of 15.39%. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter in the previous year, the business posted $0.28 earnings per share. The business’s revenue was down 1.4% compared to the same quarter last year. Equities research analysts anticipate that Flowers Foods will post $0.87 EPS for the current year.

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Several hedge funds have recently modified their holdings of FLO. TNB Financial bought a new stake in shares of Flowers Foods during the first quarter worth about $20,125,000. Oxbow Advisors LLC raised its stake in shares of Flowers Foods by 1.6% in the first quarter. Oxbow Advisors LLC now owns 23,440 shares of the company’s stock worth $455,000 after buying an additional 365 shares in the last quarter. Norges Bank bought a new stake in shares of Flowers Foods during the fourth quarter worth about $25,343,000. Prudential Financial Inc. raised its stake in shares of Flowers Foods by 186.5% in the first quarter. Prudential Financial Inc. now owns 302,816 shares of the company’s stock worth $5,878,000 after buying an additional 197,120 shares in the last quarter. Finally, Americafirst Capital Management LLC bought a new stake in shares of Flowers Foods during the first quarter worth about $1,683,000. 66.52% of the stock is owned by hedge funds and other institutional investors.

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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