Flowers Foods, Inc. (FLO) Shares Sold by Axa
Axa decreased its position in shares of Flowers Foods, Inc. (NYSE:FLO) by 27.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 569,800 shares of the company’s stock after selling 211,800 shares during the period. Axa owned approximately 0.27% of Flowers Foods worth $9,863,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Bronfman E.L. Rothschild L.P. grew its position in shares of Flowers Foods by 58.8% during the first quarter. Bronfman E.L. Rothschild L.P. now owns 5,195 shares of the company’s stock valued at $101,000 after purchasing an additional 1,923 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Flowers Foods by 10.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,710 shares of the company’s stock valued at $116,000 after purchasing an additional 629 shares in the last quarter. Ledyard National Bank grew its position in shares of Flowers Foods by 6.0% during the second quarter. Ledyard National Bank now owns 8,810 shares of the company’s stock valued at $153,000 after purchasing an additional 500 shares in the last quarter. Crescent Grove Advisors LLC purchased a new position in shares of Flowers Foods during the second quarter valued at about $173,000. Finally, AMG National Trust Bank purchased a new position in shares of Flowers Foods during the second quarter valued at about $196,000. Hedge funds and other institutional investors own 64.66% of the company’s stock.
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Flowers Foods, Inc. (NYSE FLO) opened at 18.05 on Wednesday. Flowers Foods, Inc. has a 52-week low of $14.60 and a 52-week high of $21.00. The company has a 50-day moving average price of $17.68 and a 200 day moving average price of $18.47. The stock has a market cap of $3.78 billion, a price-to-earnings ratio of 23.78 and a beta of 0.98.
Flowers Foods (NYSE:FLO) last posted its earnings results on Wednesday, August 9th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. Flowers Foods had a net margin of 4.06% and a return on equity of 14.79%. The business had revenue of $926.64 million for the quarter, compared to analysts’ expectations of $931.26 million. During the same period in the previous year, the company posted $0.26 earnings per share. The business’s revenue for the quarter was down .9% compared to the same quarter last year. On average, analysts expect that Flowers Foods, Inc. will post $0.85 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be given a dividend of $0.17 per share. The ex-dividend date is Wednesday, August 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.77%. Flowers Foods’s payout ratio is currently 90.67%.
In related news, EVP Marta Jones Turner sold 37,062 shares of the company’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $17.91, for a total value of $663,780.42. Following the sale, the executive vice president now directly owns 266,444 shares of the company’s stock, valued at $4,772,012.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Amos R. Mcmullian purchased 20,000 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The stock was bought at an average cost of $17.91 per share, for a total transaction of $358,200.00. Following the completion of the acquisition, the chairman now directly owns 3,643,717 shares of the company’s stock, valued at $65,258,971.47. The disclosure for this purchase can be found here. Insiders own 15.81% of the company’s stock.
A number of brokerages have recently weighed in on FLO. BidaskClub upgraded Flowers Foods from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Jefferies Group LLC restated a “hold” rating and set a $19.00 price objective on shares of Flowers Foods in a research report on Thursday, August 31st. BMO Capital Markets restated a “hold” rating and set a $19.00 price objective on shares of Flowers Foods in a research report on Thursday, July 20th. Zacks Investment Research upgraded Flowers Foods from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. Finally, TheStreet upgraded Flowers Foods from a “c+” rating to a “b-” rating in a research report on Thursday, May 18th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $19.67.
Flowers Foods Profile
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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