Flowers Foods (NYSE:FLO) Posts Earnings Results, Hits Estimates

Flowers Foods (NYSE:FLOGet Free Report) released its quarterly earnings results on Friday. The company reported $0.20 EPS for the quarter, meeting the consensus estimate of $0.20, Briefing.com reports. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.13 billion. Flowers Foods had a net margin of 2.42% and a return on equity of 18.15%. The firm’s revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the business earned $0.23 earnings per share.

Flowers Foods Stock Down 5.1 %

Shares of NYSE FLO opened at $22.19 on Monday. The company’s 50-day simple moving average is $22.54 and its 200-day simple moving average is $22.57. Flowers Foods has a 52-week low of $19.64 and a 52-week high of $29.10. The firm has a market cap of $4.68 billion, a price-to-earnings ratio of 38.26, a price-to-earnings-growth ratio of 10.05 and a beta of 0.40. The company has a quick ratio of 0.79, a current ratio of 1.11 and a debt-to-equity ratio of 0.78.

Flowers Foods Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were given a $0.23 dividend. The ex-dividend date was Thursday, November 30th. This represents a $0.92 annualized dividend and a dividend yield of 4.15%. Flowers Foods’s dividend payout ratio (DPR) is 158.62%.

Analyst Ratings Changes

Several analysts recently commented on FLO shares. TheStreet lowered shares of Flowers Foods from a “b-” rating to a “c+” rating in a research report on Monday, October 16th. StockNews.com upgraded shares of Flowers Foods from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Truist Financial dropped their price target on shares of Flowers Foods from $25.00 to $23.00 and set a “hold” rating on the stock in a research report on Monday, November 13th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $24.00.

Read Our Latest Stock Report on FLO

Insider Activity

In other Flowers Foods news, CEO Ryals Mcmullian purchased 9,100 shares of the firm’s stock in a transaction dated Monday, December 18th. The shares were purchased at an average cost of $21.99 per share, with a total value of $200,109.00. Following the completion of the purchase, the chief executive officer now owns 849,028 shares in the company, valued at approximately $18,670,125.72. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Flowers Foods news, CEO Ryals Mcmullian purchased 9,100 shares of the firm’s stock in a transaction dated Monday, December 18th. The shares were purchased at an average cost of $21.99 per share, with a total value of $200,109.00. Following the completion of the purchase, the chief executive officer now owns 849,028 shares in the company, valued at approximately $18,670,125.72. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO R Steve Kinsey purchased 1,780 shares of the firm’s stock in a transaction dated Wednesday, December 20th. The stock was acquired at an average cost of $22.46 per share, for a total transaction of $39,978.80. Following the completion of the purchase, the chief financial officer now owns 399,520 shares of the company’s stock, valued at approximately $8,973,219.20. The disclosure for this purchase can be found here. Company insiders own 11.49% of the company’s stock.

Hedge Funds Weigh In On Flowers Foods

A number of institutional investors have recently bought and sold shares of FLO. State Street Corp raised its stake in Flowers Foods by 206.0% during the first quarter. State Street Corp now owns 17,286,504 shares of the company’s stock worth $473,823,000 after purchasing an additional 11,637,370 shares during the period. Norges Bank purchased a new position in Flowers Foods during the fourth quarter worth about $38,880,000. Arrowstreet Capital Limited Partnership raised its stake in Flowers Foods by 73.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,383,121 shares of the company’s stock worth $65,321,000 after purchasing an additional 1,010,211 shares during the period. Morgan Stanley raised its stake in Flowers Foods by 84.0% during the fourth quarter. Morgan Stanley now owns 2,165,440 shares of the company’s stock worth $62,235,000 after purchasing an additional 988,809 shares during the period. Finally, Renaissance Technologies LLC raised its stake in Flowers Foods by 14.6% during the first quarter. Renaissance Technologies LLC now owns 5,464,185 shares of the company’s stock worth $149,773,000 after purchasing an additional 694,882 shares during the period. 78.55% of the stock is owned by hedge funds and other institutional investors.

Flowers Foods Company Profile

(Get Free Report)

Flowers Foods, Inc produces and markets packaged bakery food products in the United States. Its principal products include fresh breads, buns, rolls, snack cakes, and tortillas, as well as frozen breads and rolls under the Nature's Own, Dave's Killer Bread, Wonder, Canyon Bakehouse, Mrs. Freshley's, and Tastykake brand names.

Further Reading

Earnings History for Flowers Foods (NYSE:FLO)

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