Flowers Foods Inc. (NYSE:FLO) – Gabelli issued their FY2016 earnings estimates for Flowers Foods in a research note issued to investors on Monday. Gabelli analyst S. Donnelly anticipates that the brokerage will earn $0.90 per share for the year.
Other equities research analysts have also recently issued reports about the company. Jefferies Group reiterated a “buy” rating and issued a $20.00 price target on shares of Flowers Foods in a research note on Tuesday. BMO Capital Markets reiterated a “market perform” rating and issued a $19.00 price target (up from $17.00) on shares of Flowers Foods in a research note on Tuesday. DA Davidson reiterated a “hold” rating and issued a $16.00 price target on shares of Flowers Foods in a research note on Thursday, November 10th. Deutsche Bank AG reiterated a “hold” rating on shares of Flowers Foods in a research note on Friday, November 4th. Finally, Zacks Investment Research upgraded Flowers Foods from a “sell” rating to a “hold” rating in a research note on Monday, November 14th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $19.22.
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Flowers Foods (NYSE:FLO) last announced its quarterly earnings data on Wednesday, November 9th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.21 by $0.00. The company had revenue of $918.80 million for the quarter, compared to the consensus estimate of $923.81 million. Flowers Foods had a net margin of 4.67% and a return on equity of 16.16%. The company’s revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.23 earnings per share.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC raised its stake in shares of Flowers Foods by 33.9% in the second quarter. Tower Research Capital LLC TRC now owns 5,742 shares of the company’s stock valued at $108,000 after buying an additional 1,455 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Flowers Foods during the second quarter valued at approximately $122,000. Advisors Asset Management Inc. raised its stake in shares of Flowers Foods by 18.9% in the second quarter. Advisors Asset Management Inc. now owns 7,524 shares of the company’s stock valued at $141,000 after buying an additional 1,194 shares during the last quarter. Creative Planning raised its stake in shares of Flowers Foods by 3.7% in the third quarter. Creative Planning now owns 8,772 shares of the company’s stock valued at $133,000 after buying an additional 313 shares during the last quarter. Finally, Breton Hill Capital Ltd. acquired a new stake in shares of Flowers Foods during the second quarter valued at approximately $199,000. Institutional investors own 69.40% of the company’s stock.
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In related news, SVP Tonja W. Taylor sold 4,425 shares of Flowers Foods stock in a transaction that occurred on Friday, November 18th. The stock was sold at an average price of $15.91, for a total transaction of $70,401.75. Following the completion of the transaction, the senior vice president now directly owns 17,594 shares in the company, valued at $279,920.54. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Brad K. Alexander sold 69,850 shares of Flowers Foods stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $16.23, for a total value of $1,133,665.50. Following the transaction, the chief operating officer now owns 300,685 shares of the company’s stock, valued at $4,880,117.55. The disclosure for this sale can be found here. Corporate insiders own 16.87% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Friday, December 2nd will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend is Wednesday, November 30th. Flowers Foods’s dividend payout ratio is currently 74.42%.
About Flowers Foods
Flowers Foods, Inc is a producer and marketer of bakery products. The Company operates in two segments: direct-store-delivery segment (DSD Segment) and warehouse delivery segment (Warehouse Segment). The DSD segment’s production plant locations include Birmingham, Alabama; Opelika, Alabama; Tuscaloosa, Alabama; Goldsboro, North Carolina; Jamestown, North Carolina, and Oxford, Pennsylvania.
