Wellington Shields Capital Management LLC grew its position in Flowers Foods, Inc. (NYSE:FLO) by 106.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,794,716 shares of the company’s stock after purchasing an additional 7,638,437 shares during the period. Flowers Foods makes up 36.9% of Wellington Shields Capital Management LLC’s holdings, making the stock its largest position. Wellington Shields Capital Management LLC owned approximately 7.07% of Flowers Foods worth $278,289,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Cadence Capital Management LLC increased its holdings in shares of Flowers Foods by 25.1% in the second quarter. Cadence Capital Management LLC now owns 34,600 shares of the company’s stock valued at $599,000 after purchasing an additional 6,935 shares during the period. Systematic Financial Management LP acquired a new position in shares of Flowers Foods in the second quarter valued at about $1,555,000. Mutual of America Capital Management LLC increased its holdings in shares of Flowers Foods by 2.4% in the third quarter. Mutual of America Capital Management LLC now owns 152,873 shares of the company’s stock valued at $2,876,000 after purchasing an additional 3,633 shares during the period. Janus Capital Management LLC increased its holdings in shares of Flowers Foods by 123.8% in the first quarter. Janus Capital Management LLC now owns 85,700 shares of the company’s stock valued at $1,663,000 after purchasing an additional 47,400 shares during the period. Finally, BTIM Corp. increased its holdings in shares of Flowers Foods by 4.0% in the second quarter. BTIM Corp. now owns 1,185,145 shares of the company’s stock valued at $20,515,000 after purchasing an additional 46,117 shares during the period. 68.69% of the stock is currently owned by institutional investors and hedge funds.
Shares of Flowers Foods, Inc. (NYSE FLO) traded up $0.20 on Tuesday, hitting $18.90. The stock had a trading volume of 2,002,000 shares, compared to its average volume of 1,355,757. Flowers Foods, Inc. has a 1 year low of $15.27 and a 1 year high of $21.00. The company has a quick ratio of 1.01, a current ratio of 1.28 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $3,960.00, a P/E ratio of 21.25, a price-to-earnings-growth ratio of 3.56 and a beta of 1.00.
Flowers Foods (NYSE:FLO) last issued its earnings results on Wednesday, November 8th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates 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 in the prior year, the business earned $0.21 earnings per share. The company’s revenue was up 1.5% compared to the same quarter last year. equities research analysts expect that Flowers Foods, Inc. will post 0.86 EPS for the current fiscal year.
In other Flowers Foods news, insider Robert L. Benton, Jr. sold 18,500 shares of the stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $18.83, for a total transaction of $348,355.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Marta Jones Turner sold 37,062 shares of the stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $17.91, for a total value of $663,780.42. Following 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 have sold 98,735 shares of company stock worth $1,818,921 in the last quarter. 15.81% of the stock is currently owned by company insiders.
FLO has been the topic of a number of research reports. BidaskClub raised Flowers Foods from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. Zacks Investment Research raised Flowers Foods from a “sell” rating to a “hold” rating in a report on Tuesday, October 17th. Jefferies Group LLC downgraded Flowers Foods from a “buy” rating to a “hold” rating and lowered their target price for the stock from $23.00 to $19.00 in a research note on Friday, July 28th. TheStreet downgraded Flowers Foods from a “b-” rating to a “c” rating in a research note on Thursday, November 9th. Finally, 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, November 2nd. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Flowers Foods presently has a consensus rating of “Buy” and a consensus target price of $21.29.
Flowers Foods 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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