State of Tennessee Treasury Department Raises Position in Flowers Foods, Inc. (NYSE:FLO)
State of Tennessee Treasury Department grew its position in Flowers Foods, Inc. (NYSE:FLO) by 14.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 122,026 shares of the company’s stock after acquiring an additional 15,600 shares during the period. State of Tennessee Treasury Department owned about 0.06% of Flowers Foods worth $2,504,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of FLO. FMR LLC boosted its holdings in shares of Flowers Foods by 131.6% in the first quarter. FMR LLC now owns 2,279 shares of the company’s stock valued at $49,000 after acquiring an additional 1,295 shares in the last quarter. Victory Capital Management Inc. boosted 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 worth $70,555,000 after buying an additional 296,932 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Flowers Foods by 131.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,123 shares of the company’s stock worth $46,000 after buying an additional 1,204 shares in the last quarter. Bank of Montreal Can boosted its holdings in Flowers Foods by 43.6% during the fourth quarter. Bank of Montreal Can now owns 170,886 shares of the company’s stock worth $3,714,000 after buying an additional 51,882 shares in the last quarter. Finally, Schroder Investment Management Group purchased a new stake in Flowers Foods during the fourth quarter worth about $57,000. 66.86% of the stock is currently owned by institutional investors and hedge funds.
FLO has been the topic of a number of research analyst reports. SunTrust Banks boosted their price objective 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. Zacks Investment Research cut shares of Flowers Foods from a “strong-buy” rating to a “hold” rating and set a $26.00 target price for the company. in a research report on Thursday, April 9th. Finally, Deutsche Bank lifted their target price on shares of Flowers Foods from $22.00 to $24.00 and gave the stock a “hold” rating in a research report on Friday, May 15th. Six investment analysts have rated the stock with a hold rating, The stock has an average rating of “Hold” and a consensus target price of $23.80.
Flowers Foods (NYSE:FLO) last issued its earnings results on Wednesday, May 13th. The company reported $0.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.08. Flowers Foods had a net margin of 2.21% and a return on equity of 17.35%. The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.33 billion. As a group, sell-side analysts expect that Flowers Foods, Inc. will post 1.09 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 19th. Stockholders of record on Friday, June 5th were paid a $0.20 dividend. This is an increase from Flowers Foods’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $0.80 annualized dividend and a dividend yield of 3.60%. Flowers Foods’s dividend payout ratio (DPR) is presently 83.33%.
Flowers Foods Company 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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