Flowers Foods, Inc. (FLO) Receives Average Rating of “Buy” from Brokerages
Flowers Foods, Inc. (NYSE:FLO) has received an average recommendation of “Buy” from the eleven analysts that are presently covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $19.67.
FLO has been the subject of a number of research reports. BidaskClub raised shares of Flowers Foods from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. Zacks Investment Research raised shares of Flowers Foods from a “sell” rating to a “hold” rating in a research note on Tuesday. Jefferies Group LLC cut shares of Flowers Foods from a “buy” rating to a “hold” rating and cut their target price for the stock from $23.00 to $19.00 in a research note on Friday, July 28th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $19.00 price objective on shares of Flowers Foods in a research note on Thursday, July 20th.
In other Flowers Foods news, insider Robert L. Benton, Jr. sold 15,000 shares of the business’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 transaction, the insider now directly owns 81,677 shares in the company, valued at approximately $1,541,244.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Amos R. Mcmullian bought 20,000 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was purchased at an average price of $17.91 per share, for a total transaction of $358,200.00. Following the completion of the acquisition, the chairman now directly owns 3,643,717 shares in the company, valued at $65,258,971.47. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 98,735 shares of company stock valued at $1,818,921. 15.81% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of the business. Utah Retirement Systems boosted its holdings in Flowers Foods by 0.3% in the 1st quarter. Utah Retirement Systems now owns 31,509 shares of the company’s stock valued at $612,000 after purchasing an additional 100 shares during the last quarter. Teacher Retirement System of Texas boosted its holdings in Flowers Foods by 3.3% in the 2nd quarter. Teacher Retirement System of Texas now owns 15,051 shares of the company’s stock valued at $261,000 after purchasing an additional 480 shares during the last quarter. Botty Investors LLC boosted its holdings in Flowers Foods by 2.5% in the 2nd quarter. Botty Investors LLC now owns 19,940 shares of the company’s stock valued at $345,000 after purchasing an additional 485 shares during the last quarter. Ledyard National Bank boosted its holdings in Flowers Foods by 6.0% in the 2nd quarter. Ledyard National Bank now owns 8,810 shares of the company’s stock valued at $153,000 after purchasing an additional 500 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its holdings in Flowers Foods by 0.3% in the 1st quarter. Metropolitan Life Insurance Co. NY now owns 177,352 shares of the company’s stock valued at $3,442,000 after purchasing an additional 572 shares during the last quarter. Institutional investors own 64.66% of the company’s stock.
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Flowers Foods (NYSE FLO) traded down 0.37% on Wednesday, hitting $18.75. 824,101 shares of the company’s stock traded hands. Flowers Foods has a one year low of $15.03 and a one year high of $21.00. The stock has a 50-day moving average of $18.33 and a 200-day moving average of $18.32. The stock has a market cap of $3.93 billion, a PE ratio of 24.70 and a beta of 1.01.
Flowers Foods (NYSE:FLO) last released 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 business had revenue of $926.64 million during the quarter, compared to analysts’ expectations of $931.26 million. Flowers Foods had a net margin of 4.06% and a return on equity of 14.79%. The company’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.26 earnings per share. On average, equities analysts forecast that Flowers Foods will post $0.85 earnings per share for the current fiscal year.
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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