Flowers Foods Inc. Plans Quarterly Dividend of $0.16 (FLO)
Flowers Foods Inc. (NYSE:FLO) declared a quarterly dividend on Friday, November 18th. Investors of record on Friday, December 2nd will be paid a dividend of 0.16 per share on Friday, December 16th. This represents a $0.64 annualized dividend and a yield of 4.03%.
Shares of Flowers Foods (NYSE:FLO) remained flat at $15.90 on Friday. 438,676 shares of the stock were exchanged. Flowers Foods has a 12 month low of $14.35 and a 12 month high of $24.18. The stock has a market cap of $3.30 billion, a P/E ratio of 18.30 and a beta of 0.83. The company’s 50-day moving average is $15.34 and its 200-day moving average is $16.92.
Flowers Foods (NYSE:FLO) last issued its quarterly earnings data on Wednesday, November 9th. The company reported $0.21 EPS for the quarter, missing the Zacks’ consensus estimate of $0.21 by $0.00. The company had revenue of $918.80 million for the quarter, compared to the consensus estimate of $923.81 million. Flowers Foods had a return on equity of 16.16% and a net margin of 4.67%. Flowers Foods’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.23 earnings per share. On average, equities research analysts predict that Flowers Foods will post $0.91 earnings per share for the current year.
In related news, COO Brad K. Alexander sold 69,850 shares of the firm’s stock in a transaction dated Tuesday, November 15th. The stock was sold at an average price of $16.23, for a total transaction of $1,133,665.50. Following the completion of the transaction, the chief operating officer now owns 300,685 shares of the company’s stock, valued at $4,880,117.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 purchased at an average cost of $14.99 per share, with a total value of $449,700.00. Following the purchase, 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. Corporate insiders own 16.87% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. LPL Financial LLC increased its stake in shares of Flowers Foods by 222.2% in the third quarter. LPL Financial LLC now owns 70,972 shares of the company’s stock valued at $1,055,000 after buying an additional 48,947 shares in the last quarter. Ameritas Investment Partners Inc. increased its stake in shares of Flowers Foods by 93.0% in the third quarter. Ameritas Investment Partners Inc. now owns 55,535 shares of the company’s stock valued at $840,000 after buying an additional 26,755 shares in the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of Flowers Foods during the third quarter valued at approximately $3,786,000. Advantus Capital Management Inc increased its stake in shares of Flowers Foods by 0.5% in the third quarter. Advantus Capital Management Inc now owns 22,157 shares of the company’s stock valued at $335,000 after buying an additional 113 shares in the last quarter. Finally, Two Sigma Advisers LP bought a new stake in shares of Flowers Foods during the third quarter valued at approximately $2,141,000. 67.18% of the stock is owned by institutional investors and hedge funds.
A number of brokerages recently commented on FLO. Pivotal Research restated a “sell” rating and set a $4.00 price objective on shares of Flowers Foods in a research note on Wednesday, October 26th. Zacks Investment Research cut Flowers Foods from a “hold” rating to a “sell” rating in a research note on Monday, July 25th. TheStreet cut Flowers Foods from a “buy” rating to a “hold” rating in a research note on Monday, August 22nd. DA Davidson assumed coverage on Flowers Foods in a research note on Wednesday, October 5th. They issued a “neutral” rating and a $16.00 price target for the company. Finally, Deutsche Bank AG reissued a “hold” rating on shares of Flowers Foods in a research note on Friday, November 4th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $17.56.
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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