Research Analysts Offer Predictions for Flowers Foods Inc.’s FY2017 Earnings (FLO)
Flowers Foods Inc. (NYSE:FLO) – Research analysts at Jefferies Group dropped their FY2017 earnings per share estimates for shares of Flowers Foods in a research report issued on Friday. Jefferies Group analyst A. Jagdale now anticipates that the brokerage will post earnings per share of $1.00 for the year, down from their prior estimate of $1.06. Jefferies Group has a “Buy” rating and a $20.00 price objective on the stock. Jefferies Group also issued estimates for Flowers Foods’ FY2018 earnings at $1.08 EPS.
Several other analysts also recently issued reports on FLO. Zacks Investment Research downgraded Flowers Foods from a “hold” rating to a “sell” rating in a report on Monday, July 25th. Deutsche Bank AG set a $19.00 target price on Flowers Foods and gave the company a “hold” rating in a research note on Friday, August 5th. Pivotal Research cut their target price on Flowers Foods from $8.00 to $4.00 and set a “sell” rating on the stock in a research note on Wednesday, August 10th. TheStreet downgraded Flowers Foods from a “buy” rating to a “hold” rating in a research note on Monday, August 22nd. Finally, DA Davidson assumed coverage on Flowers Foods in a research note on Wednesday, October 5th. They set a “neutral” rating and a $16.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. Flowers Foods presently has a consensus rating of “Hold” and a consensus price target of $17.56.
Shares of Flowers Foods (NYSE:FLO) opened at 15.50 on Monday. The firm has a market cap of $3.22 billion, a price-to-earnings 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 company’s 50 day moving average price is $15.26 and its 200-day moving average price is $17.01.
Flowers Foods (NYSE:FLO) last posted its quarterly earnings data on Wednesday, November 9th. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by $0.00. The company had revenue of $918.80 million for the quarter, compared to analyst estimates of $923.81 million. Flowers Foods had a net margin of 4.67% and a return on equity of 16.16%. The firm’s revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.23 EPS.
Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Flowers Foods by 4.3% in the second quarter. Vanguard Group Inc. now owns 15,262,447 shares of the company’s stock worth $286,171,000 after buying an additional 627,379 shares during the last quarter. Wellington Shields Capital Management LLC boosted its position in shares of Flowers Foods by 0.5% in the third quarter. Wellington Shields Capital Management LLC now owns 7,362,599 shares of the company’s stock worth $111,323,000 after buying an additional 37,196 shares during the last quarter. BlackRock Fund Advisors boosted its position in shares of Flowers Foods by 4.4% in the third quarter. BlackRock Fund Advisors now owns 6,758,858 shares of the company’s stock worth $102,194,000 after buying an additional 285,831 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of Flowers Foods by 4.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 5,485,227 shares of the company’s stock worth $102,848,000 after buying an additional 217,116 shares during the last quarter. Finally, American Century Companies Inc. bought a new position in shares of Flowers Foods during the second quarter worth about $94,985,000. Institutional investors and hedge funds own 67.18% of the company’s stock.
In related news, Chairman Amos R. Mcmullian bought 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The shares were acquired at an average cost of $14.99 per share, for a total transaction of $449,700.00. Following the acquisition, the chairman now directly owns 3,650,940 shares of the company’s stock, valued at approximately $54,727,590.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Richard Lan bought 14,000 shares of the firm’s stock in a transaction that occurred on Monday, August 22nd. The stock was bought at an average price of $15.18 per share, for a total transaction of $212,520.00. Following the completion of the acquisition, the director now directly owns 27,763 shares in the company, valued at $421,442.34. The disclosure for this purchase can be found here. 16.87% of the stock is owned by corporate insiders.
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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