Flowers Foods, Inc. (FLO) Upgraded at Zacks Investment Research
Flowers Foods, Inc. (NYSE:FLO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors 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. “
FLO has been the topic of several other reports. BidaskClub raised Flowers Foods from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 23rd. Jefferies Group LLC reaffirmed a “hold” rating and set a $19.00 price target on shares of Flowers Foods in a research report on Thursday, August 31st. Finally, BMO Capital Markets restated a “hold” rating and set a $19.00 target price on shares of Flowers Foods in a research report on Thursday, July 20th. Six analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $19.67.
Shares of Flowers Foods (NYSE FLO) traded down 0.69% during trading on Tuesday, hitting $18.82. The stock had a trading volume of 1,568,539 shares. The firm has a market cap of $3.94 billion, a P/E ratio of 24.80 and a beta of 1.01. Flowers Foods has a 12-month low of $15.03 and a 12-month high of $21.00. The firm has a 50 day moving average price of $18.23 and a 200 day moving average price of $18.33.
Flowers Foods (NYSE:FLO) last announced its quarterly earnings results on Wednesday, August 9th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate 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% compared to the same quarter last year. During the same period last year, the firm earned $0.26 EPS. On average, equities analysts expect that Flowers Foods will post $0.85 earnings per share for the current fiscal year.
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In other news, SVP Karyl H. Lauder sold 28,173 shares of the firm’s stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $18.59, for a total transaction of $523,736.07. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Robert L. Benton, Jr. sold 15,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $18.87, for a total value of $283,050.00. Following the sale, the insider now owns 81,677 shares in the company, valued at $1,541,244.99. The disclosure for this sale can be found here. Insiders have sold a total of 98,735 shares of company stock worth $1,818,921 over the last 90 days. Insiders own 15.81% of the company’s stock.
Several large investors have recently bought and sold shares of FLO. UBS Asset Management Americas Inc. grew its position in shares of Flowers Foods by 13.1% during the 1st quarter. UBS Asset Management Americas Inc. now owns 150,234 shares of the company’s stock valued at $2,916,000 after acquiring an additional 17,423 shares during the period. Prudential Financial Inc. lifted its stake in Flowers Foods by 186.5% in the 1st quarter. Prudential Financial Inc. now owns 302,816 shares of the company’s stock valued at $5,878,000 after buying an additional 197,120 shares in the last quarter. Stifel Financial Corp lifted its stake in Flowers Foods by 81.4% in the 1st quarter. Stifel Financial Corp now owns 22,094 shares of the company’s stock valued at $429,000 after buying an additional 9,912 shares in the last quarter. OppenheimerFunds Inc. lifted its stake in Flowers Foods by 20.6% in the 1st quarter. OppenheimerFunds Inc. now owns 50,017 shares of the company’s stock valued at $971,000 after buying an additional 8,540 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Flowers Foods by 3.1% in the 1st quarter. Principal Financial Group Inc. now owns 753,908 shares of the company’s stock valued at $14,633,000 after buying an additional 22,447 shares in the last quarter. Hedge funds and other 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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