Flowers Foods Inc. (FLO) Expected to Earn Q3 2016 Earnings of $0.21 Per Share
Flowers Foods Inc. (NYSE:FLO) – Investment analysts at DA Davidson issued their Q3 2016 earnings per share estimates for Flowers Foods in a report released on Tuesday. DA Davidson analyst T. Ramey anticipates that the brokerage will earn $0.21 per share for the quarter. DA Davidson has a “Neutral” rating and a $16.00 price target on the stock. DA Davidson also issued estimates for Flowers Foods’ Q4 2016 earnings at $0.17 EPS, FY2016 earnings at $0.92 EPS, Q1 2017 earnings at $0.29 EPS, Q2 2017 earnings at $0.25 EPS, Q3 2017 earnings at $0.22 EPS, Q4 2017 earnings at $0.19 EPS and FY2017 earnings at $0.95 EPS.
Other equities analysts also recently issued reports about the stock. Pivotal Research reduced their target price on shares of Flowers Foods from $8.00 to $4.00 and set a “sell” rating for the company in a report on Wednesday, August 10th. Deutsche Bank AG set a $19.00 price objective on shares of Flowers Foods and gave the company a “hold” rating in a report on Friday, August 5th. Jefferies Group cut their price objective on shares of Flowers Foods from $23.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, August 11th. Zacks Investment Research downgraded shares of Flowers Foods from a “hold” rating to a “strong sell” rating in a report on Friday, August 12th. Finally, TheStreet downgraded shares of Flowers Foods from a “buy” rating to a “hold” rating in a report on Monday, August 22nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $17.78.
Shares of Flowers Foods (NYSE:FLO) opened at 14.67 on Thursday. The firm’s 50-day moving average is $15.14 and its 200-day moving average is $17.57. The company has a market cap of $3.03 billion, a PE ratio of 16.69 and a beta of 0.77. Flowers Foods has a 1-year low of $14.35 and a 1-year high of $27.31.
Flowers Foods (NYSE:FLO) last released its earnings results on Wednesday, August 10th. The company reported $0.26 EPS for the quarter, hitting analysts’ consensus estimates of $0.26. Flowers Foods had a net margin of 4.80% and a return on equity of 16.39%. The company had revenue of $935 million for the quarter, compared to analysts’ expectations of $948.98 million. During the same quarter last year, the business earned $0.25 EPS. The firm’s revenue was up 5.2% compared to the same quarter last year.
Large investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its stake in 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 in the last quarter. Fuller & Thaler Asset Management Inc. bought a new stake in Flowers Foods during the second quarter valued at approximately $122,000. Advisors Asset Management Inc. raised its stake in 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 in the last quarter. Invictus RG raised its stake in Flowers Foods by 57.3% in the first quarter. Invictus RG now owns 7,734 shares of the company’s stock valued at $143,000 after buying an additional 2,817 shares in the last quarter. Finally, IFP Advisors Inc raised its stake in Flowers Foods by 4.2% in the first quarter. IFP Advisors Inc now owns 10,252 shares of the company’s stock valued at $189,000 after buying an additional 409 shares in the last quarter. Institutional investors and hedge funds own 69.05% of the company’s stock.
In other Flowers Foods news, insider George E. Deese sold 462,500 shares of the company’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $15.14, for a total value of $7,002,250.00. Following the sale, the insider now owns 3,288,625 shares in the company, valued at approximately $49,789,782.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Amos R. Mcmullian acquired 30,000 shares of the stock in a transaction on Thursday, August 25th. The stock was bought at an average price of $14.99 per share, for a total transaction of $449,700.00. Following the transaction, the chairman now owns 3,650,940 shares in the company, valued at approximately $54,727,590.60. The disclosure for this purchase can be found here. 16.87% of the stock is owned by company insiders.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, September 2nd were given a $0.16 dividend. The ex-dividend date was Wednesday, August 31st. This represents a $0.64 annualized dividend and a yield of 4.36%. Flowers Foods’s dividend payout ratio is presently 72.73%.
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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