Westwood Holdings Group Inc. decreased its position in Flowers Foods, Inc. (NYSE:FLO) by 4.0% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 1,152,039 shares of the company’s stock after selling 48,264 shares during the period. Westwood Holdings Group Inc. owned about 0.55% of Flowers Foods worth $19,956,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FLO. UBS Asset Management Americas Inc. lifted its stake in Flowers Foods by 13.1% in the 1st quarter. UBS Asset Management Americas Inc. now owns 150,234 shares of the company’s stock valued at $2,916,000 after acquiring an additional 17,423 shares in the last quarter. Karp Capital Management Corp bought a new stake in Flowers Foods in the 1st quarter valued at approximately $745,000. Ameriprise Financial Inc. lifted its stake in Flowers Foods by 2.6% in the 1st quarter. Ameriprise Financial Inc. now owns 501,370 shares of the company’s stock valued at $9,731,000 after acquiring an additional 12,875 shares in the last quarter. Prudential Financial Inc. lifted its stake in Flowers Foods by 186.5% in the 1st quarter. Prudential Financial Inc. now owns 302,816 shares of the company’s stock valued at $5,878,000 after acquiring an additional 197,120 shares in the last quarter. Finally, Stifel Financial Corp lifted its stake in Flowers Foods by 81.4% in the 1st quarter. Stifel Financial Corp now owns 22,094 shares of the company’s stock valued at $429,000 after acquiring an additional 9,912 shares in the last quarter. Hedge funds and other institutional investors own 64.66% of the company’s stock.
Several equities research analysts have commented on FLO shares. BidaskClub upgraded Flowers Foods from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. Jefferies Group LLC cut Flowers Foods from a “buy” rating to a “hold” rating and cut their target price for the company from $23.00 to $19.00 in a research note on Friday, July 28th. BMO Capital Markets restated a “hold” rating and issued a $19.00 target price on shares of Flowers Foods in a research note on Thursday, July 20th. Finally, Zacks Investment Research upgraded Flowers Foods from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $19.67.
In other news, insider Robert L. Benton, Jr. sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $18.87, for a total value of $283,050.00. Following the transaction, the insider now owns 81,677 shares in the company, valued at $1,541,244.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Marta Jones Turner sold 37,062 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 266,444 shares in the company, valued at approximately $4,772,012.04. The disclosure for this sale can be found here. Insiders sold 98,735 shares of company stock worth $1,818,921 in the last 90 days. Corporate insiders own 15.81% of the company’s stock.
Flowers Foods, Inc. (NYSE FLO) traded up 0.774% on Friday, hitting $18.875. The company’s stock had a trading volume of 150,005 shares. The firm has a 50 day moving average of $18.17 and a 200-day moving average of $18.35. Flowers Foods, Inc. has a 12 month low of $14.86 and a 12 month high of $21.00. The stock has a market cap of $3.95 billion, a PE ratio of 24.868 and a beta of 1.01.
Flowers Foods (NYSE:FLO) last posted its earnings results on Wednesday, August 9th. The company reported $0.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.01. Flowers Foods had a return on equity of 14.79% and a net margin of 4.06%. The company had revenue of $926.64 million for the quarter, compared to analyst estimates of $931.26 million. During the same quarter last year, the company earned $0.26 earnings per share. The company’s revenue for the quarter was down .9% on a year-over-year basis. On average, analysts expect that Flowers Foods, Inc. will post $0.85 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were issued a $0.17 dividend. The ex-dividend date was Wednesday, August 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.63%. Flowers Foods’s dividend payout ratio is presently 90.67%.
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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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