Flowers Foods’ (FLO) Buy Rating Reiterated at Jefferies Group
Flowers Foods Inc. (NYSE:FLO)‘s stock had its “buy” rating reissued by Jefferies Group in a research note issued to investors on Wednesday.
Several other analysts have also issued reports on the company. Zacks Investment Research upgraded Flowers Foods from a “sell” rating to a “hold” rating in a research note on Monday, November 14th. BMO Capital Markets reiterated a “hold” rating and set a $17.00 price objective on shares of Flowers Foods in a research note on Friday, November 11th. DA Davidson reiterated a “hold” rating and set a $16.00 price objective on shares of Flowers Foods in a research note on Thursday, November 10th. Deutsche Bank AG reiterated a “hold” rating on shares of Flowers Foods in a research note on Friday, November 4th. Finally, Pivotal Research reiterated a “sell” rating and set a $4.00 price objective on shares of Flowers Foods in a research note on Wednesday, October 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $17.56.
Flowers Foods (NYSE:FLO) traded up 0.940% during mid-day trading on Wednesday, reaching $15.565. The company had a trading volume of 660,420 shares. The stock has a 50 day moving average price of $15.54 and a 200-day moving average price of $16.72. The stock has a market capitalization of $3.23 billion, a P/E ratio of 17.911 and a beta of 0.83. Flowers Foods has a 12-month low of $14.35 and a 12-month high of $23.77.
Flowers Foods (NYSE:FLO) last issued its earnings results on Wednesday, November 9th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by $0.00. The firm 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 firm earned $0.23 earnings per share. Equities analysts anticipate that Flowers Foods will post $0.91 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Friday, December 2nd will be paid a $0.16 dividend. The ex-dividend date is Wednesday, November 30th. This represents a $0.64 dividend on an annualized basis and a yield of 4.11%. Flowers Foods’s dividend payout ratio is currently 74.42%.
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In other news, SVP Dan W. Stone sold 13,250 shares of the company’s stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $16.15, for a total value of $213,987.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Tonja W. Taylor sold 4,425 shares of the company’s stock in a transaction dated Friday, November 18th. The stock was sold at an average price of $15.91, for a total value of $70,401.75. Following the completion of the transaction, the senior vice president now owns 17,594 shares of the company’s stock, valued at $279,920.54. The disclosure for this sale can be found here. 16.87% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC boosted its position 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 worth $108,000 after buying an additional 1,455 shares during the last quarter. Fuller & Thaler Asset Management Inc. purchased a new position in Flowers Foods during the second quarter worth about $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 worth $141,000 after buying an additional 1,194 shares during the last quarter. 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 worth $133,000 after buying an additional 313 shares during the last quarter. Finally, Breton Hill Capital Ltd. purchased a new position in Flowers Foods during the second quarter worth about $199,000. Hedge funds and other institutional investors own 69.47% 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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