Flowers Foods, Inc. (FLO) to Issue $0.17 Quarterly Dividend
Flowers Foods, Inc. (NYSE:FLO) declared a quarterly dividend on Friday, August 18th, RTT News reports. Stockholders of record on Friday, September 1st will be paid a dividend of 0.17 per share on Friday, September 15th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.84%.
Flowers Foods has raised its dividend payment by an average of 15.4% annually over the last three years and has raised its dividend annually for the last 11 consecutive years. Flowers Foods has a payout ratio of 79.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect Flowers Foods to earn $0.92 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 73.9%.
Shares of Flowers Foods (NYSE FLO) traded up 0.06% on Friday, hitting $17.72. The stock had a trading volume of 161,740 shares. The company has a market cap of $3.71 billion, a price-to-earnings ratio of 23.35 and a beta of 0.97. The stock has a 50 day moving average price of $17.55 and a 200-day moving average price of $18.75. Flowers Foods has a 12-month low of $14.51 and a 12-month high of $21.00.
Flowers Foods (NYSE:FLO) last posted its earnings results on Wednesday, August 9th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. Flowers Foods had a return on equity of 14.79% and a net margin of 4.06%. The firm had revenue of $926.64 million for the quarter, compared to analyst estimates of $931.26 million. During the same quarter in the prior year, the company earned $0.26 EPS. Flowers Foods’s revenue was down .9% on a year-over-year basis. On average, equities analysts expect that Flowers Foods will post $0.85 earnings per share for the current year.
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A number of research analysts have weighed in on the company. Zacks Investment Research lowered Flowers Foods from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. BidaskClub raised Flowers Foods from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. Jefferies Group LLC lowered Flowers Foods from a “buy” rating to a “hold” rating and reduced their price target for the stock from $23.00 to $19.00 in a research note on Friday, July 28th. BMO Capital Markets reissued a “hold” rating and set a $19.00 price target on shares of Flowers Foods in a research note on Thursday, July 20th. Finally, TheStreet raised Flowers Foods from a “c+” rating to a “b-” rating in a research note on Thursday, May 18th. One analyst has rated the stock with a sell rating, five have assigned 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 price target of $19.67.
In other news, Chairman Amos R. Mcmullian acquired 20,000 shares of the company’s stock in a transaction dated Monday, August 14th. The stock was acquired at an average cost of $17.91 per share, for a total transaction of $358,200.00. Following the acquisition, the chairman now directly owns 3,643,717 shares in the company, valued at approximately $65,258,971.47. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 15.81% of the company’s stock.
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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