Flowers Foods, Inc. (FLO) Stake Maintained by State of Tennessee Treasury Department
State of Tennessee Treasury Department continued to hold its stake in Flowers Foods, Inc. (NYSE:FLO) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 130,000 shares of the company’s stock at the end of the 2nd quarter. State of Tennessee Treasury Department owned 0.06% of Flowers Foods worth $2,250,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently modified their holdings of FLO. Great West Life Assurance Co. Can lifted its holdings in shares of Flowers Foods by 4.1% in the first quarter. Great West Life Assurance Co. Can now owns 108,301 shares of the company’s stock valued at $2,102,000 after purchasing an additional 4,287 shares in the last quarter. State Treasurer State of Michigan lifted its holdings in shares of Flowers Foods by 1.5% in the first quarter. State Treasurer State of Michigan now owns 74,650 shares of the company’s stock valued at $1,449,000 after purchasing an additional 1,100 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Flowers Foods by 48.2% in the first quarter. Bank of New York Mellon Corp now owns 3,990,226 shares of the company’s stock valued at $77,450,000 after purchasing an additional 1,297,541 shares in the last quarter. Swiss National Bank lifted its holdings in shares of Flowers Foods by 2.0% in the first quarter. Swiss National Bank now owns 309,063 shares of the company’s stock valued at $5,999,000 after purchasing an additional 6,200 shares in the last quarter. Finally, World Asset Management Inc lifted its holdings in shares of Flowers Foods by 14.6% in the first quarter. World Asset Management Inc now owns 12,639 shares of the company’s stock valued at $245,000 after purchasing an additional 1,607 shares in the last quarter. Institutional investors own 64.66% of the company’s stock.
FLO has been the topic of several analyst reports. BidaskClub lowered Flowers Foods from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Zacks Investment Research lowered Flowers Foods from a “hold” rating to a “sell” rating in a report on Friday, August 11th. BMO Capital Markets reiterated a “hold” rating and set a $19.00 target price on shares of Flowers Foods in a report on Thursday, July 20th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $23.00 target price on shares of Flowers Foods in a report on Friday, May 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Flowers Foods has a consensus rating of “Hold” and an average price target of $19.67.
Flowers Foods, Inc. (FLO) opened at 18.31 on Monday. Flowers Foods, Inc. has a 12 month low of $14.60 and a 12 month high of $21.00. The firm’s 50-day moving average price is $17.71 and its 200-day moving average price is $18.45. The firm has a market cap of $3.83 billion, a P/E ratio of 24.12 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 the Thomson Reuters’ consensus estimate of $0.23 by $0.01. Flowers Foods had a net margin of 4.06% and a return on equity of 14.79%. The firm had revenue of $926.64 million for the quarter, compared to analysts’ expectations of $931.26 million. During the same quarter last year, the firm earned $0.26 EPS. The company’s quarterly revenue was down .9% compared to the same quarter last year. On average, equities research analysts expect that Flowers Foods, Inc. will post $0.85 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were given a dividend of $0.17 per share. The ex-dividend date was Wednesday, August 30th. This represents a $0.68 annualized dividend and a dividend yield of 3.71%. Flowers Foods’s dividend payout ratio is currently 90.67%.
In other Flowers Foods news, EVP Marta Jones Turner sold 37,062 shares of Flowers Foods stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $17.91, for a total transaction of $663,780.42. Following the transaction, the executive vice president now owns 266,444 shares of the company’s stock, valued at approximately $4,772,012.04. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Amos R. Mcmullian bought 20,000 shares of the company’s stock in a transaction on Monday, August 14th. The shares were purchased at an average cost of $17.91 per share, for a total transaction of $358,200.00. Following the transaction, the chairman now owns 3,643,717 shares in the company, valued at $65,258,971.47. The disclosure for this purchase can be found here. 15.81% of the stock is owned by company insiders.
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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