Verition Fund Management LLC Takes $213,000 Position in Flowers Foods, Inc. (NYSE:FLO)
Verition Fund Management LLC acquired a new stake in Flowers Foods, Inc. (NYSE:FLO) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 9,529 shares of the company’s stock, valued at approximately $213,000.
Several other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp boosted its position in shares of 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 acquiring an additional 104,127 shares during the period. Wells Fargo & Company MN lifted its position in Flowers Foods by 34.4% in the first quarter. Wells Fargo & Company MN now owns 2,725,459 shares of the company’s stock worth $55,927,000 after purchasing an additional 697,942 shares during the period. AJO LP lifted its position in Flowers Foods by 69.3% in the first quarter. AJO LP now owns 2,553,264 shares of the company’s stock worth $52,392,000 after purchasing an additional 1,044,923 shares during the period. Geode Capital Management LLC lifted its position in Flowers Foods by 2.7% in the first quarter. Geode Capital Management LLC now owns 2,350,824 shares of the company’s stock worth $48,238,000 after purchasing an additional 62,865 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its position in Flowers Foods by 204.4% in the second quarter. Robeco Institutional Asset Management B.V. now owns 2,192,740 shares of the company’s stock worth $49,029,000 after purchasing an additional 1,472,327 shares during the period. 64.84% of the stock is owned by institutional investors.
Separately, Jefferies Financial Group reaffirmed a “hold” rating and issued a $24.00 target price on shares of Flowers Foods in a research report on Thursday, August 6th. Six research analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold” and an average target price of $24.00.
Flowers Foods (NYSE:FLO) last announced its earnings results on Thursday, August 6th. The company reported $0.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.02. Flowers Foods had a return on equity of 18.50% and a net margin of 2.29%. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same period last year, the company posted $0.25 earnings per share. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. Analysts predict that Flowers Foods, Inc. will post 1.22 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Friday, August 28th were paid a $0.20 dividend. The ex-dividend date was Thursday, August 27th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.44%. Flowers Foods’s dividend payout ratio (DPR) is presently 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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