Wall Street brokerages expect that Flowers Foods, Inc. (NYSE:FLO) will post sales of $1.20 billion for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Flowers Foods’ earnings. Flowers Foods posted sales of $1.19 billion in the same quarter last year, which would indicate a positive year over year growth rate of 0.8%. The company is expected to announce its next earnings results on Wednesday, May 16th.
On average, analysts expect that Flowers Foods will report full-year sales of $1.20 billion for the current financial year, with estimates ranging from $3.93 billion to $3.96 billion. For the next year, analysts anticipate that the company will report sales of $4.01 billion per share, with estimates ranging from $3.95 billion to $4.07 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Flowers Foods.
Flowers Foods (NYSE:FLO) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.03. The firm had revenue of $873.60 million during the quarter, compared to the consensus estimate of $860.34 million. Flowers Foods had a net margin of 3.83% and a return on equity of 15.17%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.16 EPS.
A number of research firms have issued reports on FLO. TheStreet raised shares of Flowers Foods from a “c+” rating to a “b” rating in a report on Wednesday, February 7th. Pivotal Research cut their price objective on shares of Flowers Foods to $26.00 and set a “buy” rating for the company in a report on Thursday, February 8th. Stephens reissued a “hold” rating and issued a $20.00 price objective on shares of Flowers Foods in a report on Friday, February 9th. BMO Capital Markets boosted their price objective on shares of Flowers Foods from $19.00 to $20.00 and gave the company a “market perform” rating in a report on Wednesday, November 15th. Finally, Zacks Investment Research downgraded shares of Flowers Foods from a “hold” rating to a “sell” rating in a report on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $21.00.
In other news, insider Stephen R. Avera sold 68,908 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $19.33, for a total transaction of $1,331,991.64. Following the completion of the sale, the insider now owns 553,989 shares of the company’s stock, valued at approximately $10,708,607.37. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO R Steve Kinsey sold 116,067 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $19.39, for a total transaction of $2,250,539.13. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 189,935 shares of company stock valued at $3,679,598. 15.81% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of FLO. Truewealth LLC bought a new stake in shares of Flowers Foods during the 4th quarter worth approximately $119,000. Ffcm LLC lifted its holdings in shares of Flowers Foods by 1,298.6% during the 3rd quarter. Ffcm LLC now owns 6,965 shares of the company’s stock worth $131,000 after acquiring an additional 6,467 shares during the period. Advisor Group Inc. lifted its holdings in shares of Flowers Foods by 77.8% during the 4th quarter. Advisor Group Inc. now owns 6,831 shares of the company’s stock worth $132,000 after acquiring an additional 2,990 shares during the period. BB&T Securities LLC bought a new stake in shares of Flowers Foods during the 3rd quarter worth approximately $192,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Flowers Foods by 48.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,976 shares of the company’s stock worth $193,000 after acquiring an additional 3,266 shares during the period. 66.44% of the stock is owned by institutional investors.
Flowers Foods (NYSE FLO) traded up $0.44 during midday trading on Tuesday, reaching $21.35. 1,510,065 shares of the company’s stock were exchanged, compared to its average volume of 1,482,137. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.67. The company has a market cap of $4,475.17, a P/E ratio of 30.07, a P/E/G ratio of 3.27 and a beta of 0.91. Flowers Foods has a 52-week low of $16.80 and a 52-week high of $21.46.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Friday, March 2nd will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.19%. Flowers Foods’s dividend payout ratio (DPR) is presently 95.77%.
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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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