Flowers Foods Inc. (FLO) Coverage Initiated by Analysts at DA Davidson
DA Davidson started coverage on shares of Flowers Foods Inc. (NYSE:FLO) in a research report issued on Wednesday. The firm set a “neutral” rating and a $16.00 price target on the stock. DA Davidson’s price target would indicate a potential upside of 7.67% from the company’s current price.
Several other research analysts have also recently issued reports on the company. Pivotal Research reaffirmed a “sell” rating and issued a $4.00 price target on shares of Flowers Foods in a report on Thursday, September 1st. TheStreet downgraded shares of Flowers Foods from a “buy” rating to a “hold” rating in a research note on Monday, August 22nd. Deutsche Bank AG reissued a “hold” rating and set a $19.00 target price on shares of Flowers Foods in a research note on Saturday, August 13th. Zacks Investment Research downgraded shares of Flowers Foods from a “hold” rating to a “strong sell” rating in a research note on Friday, August 12th. Finally, Jefferies Group cut their target price on shares of Flowers Foods from $23.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, August 11th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $17.78.
Flowers Foods (NYSE:FLO) opened at 14.86 on Wednesday. The company has a 50-day moving average price of $15.17 and a 200-day moving average price of $17.61. The firm has a market cap of $3.07 billion, a PE ratio of 16.91 and a beta of 0.77. Flowers Foods has a one year low of $14.35 and a one year high of $27.31.
Flowers Foods (NYSE:FLO) last posted its quarterly earnings results on Wednesday, August 10th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.26. The company had revenue of $935 million for the quarter, compared to analysts’ expectations of $948.98 million. Flowers Foods had a return on equity of 16.39% and a net margin of 4.80%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.25 earnings per share. Equities analysts predict that Flowers Foods will post $0.91 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, September 2nd were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date was Wednesday, August 31st. Flowers Foods’s dividend payout ratio (DPR) is presently 72.73%.
In related news, insider George E. Deese sold 462,500 shares of the company’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $15.14, for a total value of $7,002,250.00. Following the completion of the sale, the insider now directly owns 3,288,625 shares in the company, valued at $49,789,782.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Amos R. Mcmullian acquired 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The stock was acquired at an average price of $14.99 per share, with a total value of $449,700.00. Following the completion of the acquisition, the chairman now directly owns 3,650,940 shares of the company’s stock, valued at approximately $54,727,590.60. The disclosure for this purchase can be found here. 16.87% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of FLO. Tower Research Capital LLC TRC boosted 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 worth $108,000 after buying an additional 1,455 shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Flowers Foods during the second quarter worth about $122,000. Advisors Asset Management Inc. boosted 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 worth $141,000 after buying an additional 1,194 shares in the last quarter. Invictus RG boosted its stake in shares of Flowers Foods by 57.3% in the first quarter. Invictus RG now owns 7,734 shares of the company’s stock worth $143,000 after buying an additional 2,817 shares in the last quarter. Finally, IFP Advisors Inc boosted its stake in shares of Flowers Foods by 4.2% in the first quarter. IFP Advisors Inc now owns 10,252 shares of the company’s stock worth $189,000 after buying an additional 409 shares in the last quarter. Hedge funds and other institutional investors own 69.05% of the company’s stock.
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.
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