DA Davidson Equities Analysts Cut Earnings Estimates for Flowers Foods Inc. (FLO)
Flowers Foods Inc. (NYSE:FLO) – Analysts at DA Davidson dropped their FY2016 earnings estimates for Flowers Foods in a report released on Friday. DA Davidson analyst E. Gottlieb now anticipates that the brokerage will earn $0.90 per share for the year, down from their prior forecast of $0.92. DA Davidson currently has a “Hold” rating and a $16.00 target price on the stock. DA Davidson also issued estimates for Flowers Foods’ Q4 2016 earnings at $0.16 EPS, Q2 2017 earnings at $0.24 EPS and Q4 2017 earnings at $0.18 EPS.
Flowers Foods (NYSE:FLO) last posted its earnings results on Wednesday, November 9th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by $0.00. The company earned $918.80 million during 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 business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.23 earnings per share.
Several other brokerages also recently commented on FLO. Jefferies Group dropped their price target on Flowers Foods from $23.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, August 11th. Pivotal Research dropped their price target on Flowers Foods from $8.00 to $4.00 and set a “sell” rating on the stock in a research report on Wednesday, August 10th. Zacks Investment Research raised Flowers Foods from a “sell” rating to a “hold” rating in a research report on Monday, August 1st. BMO Capital Markets reaffirmed a “hold” rating and issued a $17.00 price target on shares of Flowers Foods in a research report on Friday. Finally, Deutsche Bank AG set a $19.00 price target on Flowers Foods and gave the stock a “hold” rating in a research report on Friday, August 5th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $17.56.
Shares of Flowers Foods (NYSE:FLO) opened at 15.50 on Monday. The company has a market capitalization of $3.22 billion, a PE ratio of 17.84 and a beta of 0.83. Flowers Foods has a 1-year low of $14.35 and a 1-year high of $24.18. The firm has a 50-day moving average price of $15.26 and a 200-day moving average price of $17.01.
In other Flowers Foods news, insider George E. Deese sold 462,500 shares of the company’s stock in a transaction 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 directly owns 3,288,625 shares in the company, valued at $49,789,782.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Amos R. Mcmullian purchased 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 completion of the transaction, the chairman now directly owns 3,650,940 shares of the company’s stock, valued at $54,727,590.60. The disclosure for this purchase can be found here. 16.87% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in FLO. Synovus Financial Corp boosted its stake in shares of Flowers Foods by 0.3% in the third quarter. Synovus Financial Corp now owns 36,204 shares of the company’s stock worth $546,000 after buying an additional 103 shares during the period. Lbmc Investment Advisors LLC raised its position in Flowers Foods by 0.9% in the second quarter. Lbmc Investment Advisors LLC now owns 16,621 shares of the company’s stock worth $312,000 after buying an additional 149 shares in the last quarter. American Research & Management Co. raised its position in Flowers Foods by 1.8% in the second quarter. American Research & Management Co. now owns 11,201 shares of the company’s stock worth $210,000 after buying an additional 200 shares in the last quarter. State Treasurer State of Michigan raised its position in Flowers Foods by 0.3% in the third quarter. State Treasurer State of Michigan now owns 73,250 shares of the company’s stock worth $1,108,000 after buying an additional 200 shares in the last quarter. Finally, Wilbanks Smith & Thomas Asset Management LLC raised its position in Flowers Foods by 2.2% in the third quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 12,450 shares of the company’s stock worth $188,000 after buying an additional 270 shares in the last quarter. Hedge funds and other institutional investors own 67.18% of the company’s stock.
Flowers Foods Company Profile
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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