New Mexico Educational Retirement Board Has $940,000 Holdings in Flowers Foods, Inc. (NYSE:FLO)
New Mexico Educational Retirement Board raised its position in Flowers Foods, Inc. (NYSE:FLO) by 44.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,800 shares of the company’s stock after buying an additional 14,100 shares during the period. New Mexico Educational Retirement Board’s holdings in Flowers Foods were worth $940,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the business. State Street Corp boosted its position in Flowers Foods by 2.2% in the first quarter. State Street Corp now owns 4,836,748 shares of the company’s stock valued at $99,250,000 after buying an additional 104,127 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Flowers Foods by 10.1% during the fourth quarter. Victory Capital Management Inc. now owns 3,245,421 shares of the company’s stock valued at $70,555,000 after purchasing an additional 296,932 shares during the period. Wells Fargo & Company MN grew its holdings in Flowers Foods by 34.4% during the first quarter. Wells Fargo & Company MN now owns 2,725,459 shares of the company’s stock valued at $55,927,000 after purchasing an additional 697,942 shares during the period. Renaissance Technologies LLC grew its holdings in Flowers Foods by 11.7% during the fourth quarter. Renaissance Technologies LLC now owns 2,709,880 shares of the company’s stock valued at $58,913,000 after purchasing an additional 282,997 shares during the period. Finally, AJO LP grew its holdings in Flowers Foods by 69.3% during the first quarter. AJO LP now owns 2,553,264 shares of the company’s stock valued at $52,392,000 after purchasing an additional 1,044,923 shares during the period. Hedge funds and other institutional investors own 66.86% of the company’s stock.
A number of brokerages recently issued reports on FLO. Deutsche Bank boosted their price objective on shares of Flowers Foods from $22.00 to $24.00 and gave the company a “hold” rating in a report on Friday, May 15th. Zacks Investment Research cut shares of Flowers Foods from a “strong-buy” rating to a “hold” rating and set a $26.00 price target for the company. in a report on Thursday, April 9th. Finally, SunTrust Banks increased their target price on shares of Flowers Foods from $20.00 to $25.00 and gave the stock a “hold” rating in a report on Friday, May 15th. Six analysts have rated the stock with a hold rating, Flowers Foods presently has a consensus rating of “Hold” and an average price target of $23.80.
Flowers Foods (NYSE:FLO) last posted its quarterly earnings results on Wednesday, May 13th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.08. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.33 billion. Flowers Foods had a net margin of 2.21% and a return on equity of 17.35%. As a group, research analysts predict that Flowers Foods, Inc. will post 1.09 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 19th. Investors of record on Friday, June 5th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.60%. This is a positive change from Flowers Foods’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Thursday, June 4th. Flowers Foods’s dividend payout ratio (DPR) is currently 83.33%.
Flowers Foods Profile
Flowers Foods, Inc produces and markets bakery products in the United States. The company operates through two segments, Direct-Store-Delivery and Warehouse Delivery. The Direct-Store-Delivery segment produces and markets fresh breads, buns, rolls, tortillas, and snack cakes. This segment offers its products primarily under the Nature's Own, Dave's Killer Bread, Tastykake, Wonder, and Cobblestone Bread Company brand names.
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