Flowers Foods, Inc. (FLO) Insider Sells $348,355.00 in Stock
Flowers Foods, Inc. (NYSE:FLO) insider Robert L. Benton, Jr. sold 18,500 shares of the firm’s stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $18.83, for a total value of $348,355.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Flowers Foods, Inc. (FLO) traded up 0.86% during trading on Wednesday, hitting $18.83. The stock had a trading volume of 1,061,877 shares. Flowers Foods, Inc. has a 12 month low of $14.60 and a 12 month high of $21.00. The company has a market cap of $3.94 billion, a PE ratio of 24.81 and a beta of 1.01. The stock has a 50 day moving average of $18.00 and a 200 day moving average of $18.37.
Flowers Foods (NYSE:FLO) last posted its earnings results on Wednesday, August 9th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. The company had revenue of $926.64 million for the quarter, compared to the consensus estimate of $931.26 million. Flowers Foods had a return on equity of 14.79% and a net margin of 4.06%. The firm’s revenue for the quarter was down .9% on a year-over-year basis. During the same period in the previous year, the business earned $0.26 earnings per share. Equities analysts forecast that Flowers Foods, Inc. will post $0.85 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were given a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.61%. Flowers Foods’s dividend payout ratio is currently 90.67%.
Several research firms have weighed in on FLO. BidaskClub raised Flowers Foods from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 23rd. Jefferies Group LLC cut Flowers Foods from a “buy” rating to a “hold” rating and lowered their price target for the company from $23.00 to $19.00 in a report on Friday, July 28th. BMO Capital Markets reaffirmed a “hold” rating and issued a $19.00 price target on shares of Flowers Foods in a report on Thursday, July 20th. Finally, Zacks Investment Research lowered Flowers Foods from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $19.67.
Several large investors have recently bought and sold shares of FLO. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Flowers Foods by 10.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,710 shares of the company’s stock worth $116,000 after buying an additional 629 shares in the last quarter. Ledyard National Bank lifted its position in shares of Flowers Foods by 6.0% in the second quarter. Ledyard National Bank now owns 8,810 shares of the company’s stock worth $153,000 after buying an additional 500 shares in the last quarter. Crescent Grove Advisors LLC purchased a new stake in shares of Flowers Foods in the second quarter worth about $173,000. AMG National Trust Bank purchased a new stake in shares of Flowers Foods in the second quarter worth about $196,000. Finally, ARP Americas LLC purchased a new stake in shares of Flowers Foods in the second quarter worth about $213,000. Institutional investors own 64.66% 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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