Nationwide Fund Advisors Grows Stake in Flowers Foods, Inc. (FLO)
Nationwide Fund Advisors lifted its position in Flowers Foods, Inc. (NYSE:FLO) by 3.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 316,780 shares of the company’s stock after buying an additional 9,848 shares during the period. Nationwide Fund Advisors owned approximately 0.15% of Flowers Foods worth $5,483,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of Flowers Foods by 13,803.5% in the 1st quarter. BlackRock Inc. now owns 14,447,449 shares of the company’s stock worth $280,425,000 after buying an additional 14,343,537 shares during the last quarter. Champlain Investment Partners LLC boosted its stake in shares of Flowers Foods by 7.9% in the 1st quarter. Champlain Investment Partners LLC now owns 5,441,170 shares of the company’s stock worth $105,613,000 after buying an additional 400,290 shares during the last quarter. State Street Corp boosted its stake in shares of Flowers Foods by 2.8% in the 1st quarter. State Street Corp now owns 4,727,765 shares of the company’s stock worth $91,768,000 after buying an additional 130,642 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Flowers Foods by 5.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,216,755 shares of the company’s stock worth $72,992,000 after buying an additional 226,529 shares during the last quarter. Finally, Hamlin Capital Management LLC boosted its stake in shares of Flowers Foods by 1.1% in the 2nd quarter. Hamlin Capital Management LLC now owns 3,335,390 shares of the company’s stock worth $57,736,000 after buying an additional 35,031 shares during the last quarter. Hedge funds and other institutional investors own 64.66% of the company’s stock.
Flowers Foods, Inc. (NYSE:FLO) opened at 18.83 on Thursday. The company has a market capitalization of $3.94 billion, a PE ratio of 24.81 and a beta of 1.01. The company has a 50-day moving average price of $18.03 and a 200-day moving average price of $18.37. Flowers Foods, Inc. has a one year low of $14.60 and a one year high of $21.00.
Flowers Foods (NYSE:FLO) last posted its quarterly earnings results on Wednesday, August 9th. The company reported $0.24 EPS for the quarter, beating the 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 company had revenue of $926.64 million for the quarter, compared to analyst estimates of $931.26 million. During the same period in the prior year, the company earned $0.26 earnings per share. The firm’s revenue was down .9% on a year-over-year basis. Analysts expect that Flowers Foods, Inc. will post $0.85 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 3.61%. The ex-dividend date of this dividend was Wednesday, August 30th. Flowers Foods’s payout ratio is 90.67%.
In other Flowers Foods 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 SEC, which is available through the SEC website. Also, insider Robert L. Benton, Jr. sold 18,500 shares of the company’s stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $18.83, for a total transaction of $348,355.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 70,562 shares of company stock worth $1,295,185. 15.81% of the stock is owned by corporate insiders.
A number of equities analysts recently commented on FLO shares. BidaskClub raised Flowers Foods from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Jefferies Group LLC cut Flowers Foods from a “buy” rating to a “hold” rating and decreased their target price for the stock from $23.00 to $19.00 in a report 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 report on Thursday, July 20th. Finally, Zacks Investment Research raised Flowers Foods from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $19.67.
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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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