Jefferies Group LLC Reiterates Hold Rating for Flowers Foods, Inc. (FLO)
Flowers Foods, Inc. (NYSE:FLO)‘s stock had its “hold” rating restated by investment analysts at Jefferies Group LLC in a report issued on Thursday. They currently have a $19.00 target price on the stock. Jefferies Group LLC’s price objective would suggest a potential upside of 9.38% from the company’s previous close.
Other analysts have also recently issued reports about the stock. TheStreet upgraded shares of Flowers Foods from a “c+” rating to a “b-” rating in a report on Thursday, May 18th. BidaskClub upgraded shares of Flowers Foods from a “hold” rating to a “buy” rating in a report on Thursday, June 29th. Zacks Investment Research upgraded shares of Flowers Foods from a “sell” rating to a “hold” rating in a report on Tuesday, May 9th. Finally, BMO Capital Markets restated a “hold” rating and set a $19.00 target price on shares of Flowers Foods in a report on Thursday, July 20th. One analyst has rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $19.67.
Shares of Flowers Foods (FLO) traded down 0.52% on Thursday, hitting $17.37. The company had a trading volume of 1,941,832 shares. The stock has a market cap of $3.64 billion, a PE ratio of 22.89 and a beta of 0.97. Flowers Foods has a 12 month low of $14.51 and a 12 month high of $21.00. The company has a 50-day moving average of $17.65 and a 200 day moving average of $18.65.
Flowers Foods (NYSE:FLO) last issued its earnings results on Wednesday, August 9th. The company reported $0.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.01. The firm had revenue of $926.64 million during the quarter, compared to analysts’ expectations of $931.26 million. Flowers Foods had a net margin of 4.83% and a return on equity of 15.49%. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period last year, the firm posted $0.26 earnings per share. Analysts anticipate that Flowers Foods will post $0.85 EPS for the current fiscal year.
In other Flowers Foods news, EVP Marta Jones Turner sold 37,062 shares of the stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $17.91, for a total value of $663,780.42. Following the completion of the sale, the executive vice president now owns 266,444 shares in the company, valued at approximately $4,772,012.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Amos R. Mcmullian bought 20,000 shares of the business’s stock in a transaction on Monday, August 14th. The stock was bought at an average price of $17.91 per share, with a total value of $358,200.00. Following the transaction, the chairman now owns 3,643,717 shares in the company, valued at $65,258,971.47. The disclosure for this purchase can be found here. Company insiders own 15.81% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in FLO. BlackRock Inc. increased its stake in Flowers Foods by 13,803.5% in the first quarter. BlackRock Inc. now owns 14,447,449 shares of the company’s stock worth $280,425,000 after buying an additional 14,343,537 shares during the last quarter. Champlain Investment Partners LLC increased its stake in Flowers Foods by 7.9% in the first quarter. Champlain Investment Partners LLC now owns 5,441,170 shares of the company’s stock worth $105,613,000 after buying an additional 400,290 shares during the last quarter. State Street Corp increased its stake in Flowers Foods by 1.1% in the second quarter. State Street Corp now owns 4,781,357 shares of the company’s stock worth $82,762,000 after buying an additional 53,592 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Flowers Foods by 5.7% in the second quarter. Bank of New York Mellon Corp now owns 4,216,755 shares of the company’s stock worth $72,992,000 after buying an additional 226,529 shares during the last quarter. Finally, Hamlin Capital Management LLC increased its stake in Flowers Foods by 1.1% in the second quarter. Hamlin Capital Management LLC now owns 3,335,390 shares of the company’s stock worth $57,736,000 after buying an additional 35,031 shares during the last quarter. Institutional investors own 64.66% 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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