SunTrust Banks Weighs in on Flowers Foods Inc.’s Q4 2016 Earnings (FLO)
Flowers Foods Inc. (NYSE:FLO) – Analysts at SunTrust Banks raised their Q4 2016 earnings estimates for Flowers Foods in a research report issued to clients and investors on Thursday. SunTrust Banks analyst W. Chappell now expects that the brokerage will post earnings per share of $0.15 for the quarter, up from their prior forecast of $0.14. SunTrust Banks also issued estimates for Flowers Foods’ Q2 2017 earnings at $0.27 EPS and Q4 2017 earnings at $0.16 EPS.
A number of other brokerages also recently weighed in on FLO. Zacks Investment Research downgraded Flowers Foods from a “hold” rating to a “sell” rating in a report on Monday, July 25th. Pivotal Research lowered their price target on Flowers Foods from $8.00 to $4.00 and set a “sell” rating on the stock in a report on Wednesday, August 10th. Deutsche Bank AG set a $19.00 price target on Flowers Foods and gave the company a “hold” rating in a report on Friday, August 5th. Jefferies Group lowered their price target on Flowers Foods from $23.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, August 11th. Finally, DA Davidson reiterated a “hold” rating and set a $16.00 price target on shares of Flowers Foods in a report on Thursday, November 10th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. Flowers Foods has a consensus rating of “Hold” and an average price target of $17.56.
Shares of Flowers Foods (NYSE:FLO) opened at 16.05 on Monday. Flowers Foods has a one year low of $14.35 and a one 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. The stock has a market capitalization of $3.33 billion, a P/E ratio of 18.47 and a beta of 0.83.
Flowers Foods (NYSE:FLO) last announced its earnings results on Wednesday, November 9th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.21 by $0.00. The company had revenue of $918.80 million for the quarter, compared to analysts’ expectations 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.
Hedge funds have recently made changes to their positions in the company. 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 position in Flowers Foods during the second quarter valued at $122,000. Advisors Asset Management Inc. boosted its position 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 boosted its position 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, Creative Planning boosted its position in 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 in the last quarter. 67.18% of the stock is owned by institutional investors.
In other Flowers Foods news, insider George E. Deese sold 462,500 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now owns 3,288,625 shares of the company’s stock, valued at $49,789,782.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Amos R. Mcmullian purchased 30,000 shares of Flowers Foods stock in a transaction on Thursday, August 25th. The stock was bought at an average cost of $14.99 per share, with a total value of $449,700.00. Following 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.
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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