Flowers Foods, Inc. (FLO) Shares Sold by Prudential Financial Inc.
Prudential Financial Inc. cut its position in Flowers Foods, Inc. (NYSE:FLO) by 81.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 117,176 shares of the company’s stock after selling 508,840 shares during the period. Prudential Financial Inc. owned 0.06% of Flowers Foods worth $2,204,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently modified their holdings of FLO. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Flowers Foods by 10.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,710 shares of the company’s stock worth $116,000 after acquiring an additional 629 shares during the last quarter. Crescent Grove Advisors LLC acquired a new stake in shares of Flowers Foods in the second quarter worth approximately $173,000. AMG National Trust Bank acquired a new stake in shares of Flowers Foods in the second quarter worth approximately $196,000. Round Table Services LLC acquired a new stake in shares of Flowers Foods in the third quarter worth approximately $208,000. Finally, ARP Americas LLC acquired a new stake in shares of Flowers Foods in the second quarter worth approximately $213,000. 66.44% of the stock is currently owned by hedge funds and other institutional investors.
In other Flowers Foods news, CEO Allen L. Shiver sold 177,081 shares of Flowers Foods stock in a transaction on Monday, November 13th. The stock was sold at an average price of $19.00, for a total value of $3,364,539.00. Following the sale, the chief executive officer now owns 978,353 shares in the company, valued at $18,588,707. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tonja W. Taylor sold 4,960 shares of Flowers Foods stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $19.57, for a total value of $97,067.20. Following the completion of the sale, the insider now owns 22,055 shares in the company, valued at approximately $431,616.35. The disclosure for this sale can be found here. In the last quarter, insiders have sold 509,689 shares of company stock worth $9,743,948. 15.81% of the stock is currently owned by company insiders.
Flowers Foods (NYSE:FLO) last announced its quarterly earnings data on Wednesday, November 8th. The company reported $0.23 EPS for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.03. Flowers Foods had a return on equity of 15.16% and a net margin of 2.16%. The firm had revenue of $932.80 million for the quarter, compared to the consensus estimate of $915.55 million. During the same quarter last year, the business posted $0.21 earnings per share. The firm’s revenue was up 1.5% compared to the same quarter last year. equities analysts predict that Flowers Foods, Inc. will post 0.86 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a dividend of $0.17 per share. The ex-dividend date is Thursday, November 30th. This represents a $0.68 dividend on an annualized basis and a yield of 3.40%. Flowers Foods’s payout ratio is 170.00%.
A number of brokerages have recently issued reports on FLO. BMO Capital Markets lifted their price target on Flowers Foods from $19.00 to $20.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 15th. Zacks Investment Research raised Flowers Foods from a “sell” rating to a “hold” rating in a research note on Tuesday, October 17th. SunTrust Banks reaffirmed a “hold” rating and issued a $20.00 price target on shares of Flowers Foods in a research note on Friday, November 10th. TheStreet lowered Flowers Foods from a “b-” rating to a “c” rating in a research note on Thursday, November 9th. Finally, BidaskClub upgraded Flowers Foods from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 23rd. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Flowers Foods presently has a consensus rating of “Buy” and a consensus target price of $21.43.
Flowers Foods Company 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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