Flowers Foods, Inc. (FLO) Stake Raised by Retirement Systems of Alabama
Retirement Systems of Alabama raised its stake in Flowers Foods, Inc. (NYSE:FLO) by 0.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 237,364 shares of the company’s stock after buying an additional 31 shares during the period. Retirement Systems of Alabama owned about 0.11% of Flowers Foods worth $4,109,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of FLO. Teachers Advisors LLC raised its stake in shares of Flowers Foods by 3.3% in the fourth quarter. Teachers Advisors LLC now owns 166,593 shares of the company’s stock valued at $3,327,000 after buying an additional 5,286 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in shares of Flowers Foods by 2.7% in the first quarter. Louisiana State Employees Retirement System now owns 46,400 shares of the company’s stock valued at $901,000 after buying an additional 1,200 shares in the last quarter. Nationwide Fund Advisors raised its stake in shares of Flowers Foods by 1.2% in the first quarter. Nationwide Fund Advisors now owns 306,932 shares of the company’s stock valued at $5,958,000 after buying an additional 3,763 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Flowers Foods by 287,474.1% in the first quarter. Acadian Asset Management LLC now owns 77,645 shares of the company’s stock valued at $1,507,000 after buying an additional 77,618 shares in the last quarter. Finally, Shell Asset Management Co. purchased a new stake in shares of Flowers Foods during the first quarter valued at about $1,081,000. 67.47% of the stock is owned by institutional investors.
Shares of Flowers Foods, Inc. (NYSE FLO) opened at 17.87 on Monday. The company has a market cap of $3.74 billion, a P/E ratio of 23.54 and a beta of 0.97. The firm has a 50-day moving average price of $17.56 and a 200 day moving average price of $18.73. Flowers Foods, Inc. has a 12 month low of $14.51 and a 12 month high of $21.00.
Flowers Foods (NYSE:FLO) last announced its earnings results on Wednesday, August 9th. The company reported $0.24 EPS for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.01. The firm had revenue of $926.64 million during the quarter, compared to analysts’ expectations of $931.26 million. Flowers Foods had a return on equity of 14.79% and a net margin of 4.06%. The company’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.26 EPS. Equities analysts predict that Flowers Foods, Inc. will post $0.85 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.81%. Flowers Foods’s dividend payout ratio (DPR) is 90.67%.
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Several brokerages have issued reports on FLO. Zacks Investment Research lowered Flowers Foods from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. BidaskClub raised Flowers Foods from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. Jefferies Group LLC lowered Flowers Foods from a “buy” rating to a “hold” rating and cut their target price for the stock from $23.00 to $19.00 in a research note on Friday, July 28th. BMO Capital Markets reaffirmed a “hold” rating and issued a $19.00 target price on shares of Flowers Foods in a research note on Thursday, July 20th. Finally, TheStreet raised Flowers Foods from a “c+” rating to a “b-” rating in a research note on Thursday, May 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $19.67.
In related news, Chairman Amos R. Mcmullian bought 20,000 shares of the company’s stock in a transaction dated Monday, August 14th. The stock was purchased at an average price of $17.91 per share, for a total transaction of $358,200.00. Following the acquisition, the chairman now owns 3,643,717 shares in the company, valued at $65,258,971.47. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 15.81% of the stock is currently owned by insiders.
About Flowers Foods
Flowers Foods, Inc is a producer and marketer of packaged bakery products. The Company operates in two segments: direct-store-delivery segment (DSD Segment) and warehouse delivery segment (Warehouse Segment). The DSD segment produces fresh breads, buns, rolls, tortillas and snack cakes sold primarily by a network of independent distributors to retail and foodservice customers in the areas of the United States: East, South, Southwest, California, and select markets in the Midwest, Pacific Northwest, Nevada, and Colorado.
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