Flowers Foods (NYSE:FLO) updated its FY18 earnings guidance on Wednesday. The company provided EPS guidance of $1.04-1.16 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.96. The company issued revenue guidance of $3.92-3.98 billion, compared to the consensus revenue estimate of $3.93 billion.
FLO has been the topic of a number of research reports. Zacks Investment Research downgraded shares of Flowers Foods from a strong-buy rating to a hold rating in a research report on Friday, January 12th. Pivotal Research reaffirmed a buy rating and issued a $26.00 price objective (up previously from $23.00) on shares of Flowers Foods in a research report on Friday, January 12th. BMO Capital Markets lifted their price objective on shares of Flowers Foods from $19.00 to $20.00 and gave the stock a market perform rating in a research report on Wednesday, November 15th. SunTrust Banks reaffirmed a hold rating and issued a $20.00 price objective on shares of Flowers Foods in a research report on Friday, November 10th. Finally, TheStreet downgraded shares of Flowers Foods from a b- rating to a c rating in a research report on Thursday, November 9th. Four investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Flowers Foods currently has a consensus rating of Buy and an average target price of $21.20.
Shares of Flowers Foods (NYSE:FLO) traded up $0.05 during midday trading on Wednesday, reaching $18.95. 1,126,779 shares of the company’s stock traded hands, compared to its average volume of 1,236,426. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.28. Flowers Foods has a twelve month low of $16.80 and a twelve month high of $21.00. The firm has a market cap of $3,990.00, a PE ratio of 47.38, a price-to-earnings-growth ratio of 3.14 and a beta of 0.91.
In other news, insider Brad K. Alexander sold 81,000 shares of the company’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $19.07, for a total transaction of $1,544,670.00. Following the completion of the sale, the insider now owns 245,412 shares of the company’s stock, valued at $4,680,006.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Allen L. Shiver sold 177,081 shares of the company’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $19.00, for a total transaction of $3,364,539.00. Following the sale, the chief executive officer now directly owns 978,353 shares of the company’s stock, valued at approximately $18,588,707. The disclosure for this sale can be found here. In the last three months, insiders sold 448,016 shares of company stock valued at $8,588,807. 15.81% of the stock is owned by insiders.
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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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