ValuEngine Upgrades Flowers Foods (FLO) to “Buy”

Flowers Foods (NYSE:FLO) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Friday, ValuEngine reports.

Several other research firms have also issued reports on FLO. Zacks Investment Research lowered Flowers Foods from a “buy” rating to a “hold” rating in a research report on Wednesday, April 10th. Pivotal Research restated a “sell” rating and set a $16.00 target price on shares of Flowers Foods in a research report on Thursday, February 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $19.20.

Shares of NYSE:FLO opened at $22.66 on Friday. The stock has a market cap of $4.49 billion, a price-to-earnings ratio of 24.11 and a beta of 0.49. Flowers Foods has a 1-year low of $17.78 and a 1-year high of $22.74. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.36 and a quick ratio of 1.05.

Flowers Foods (NYSE:FLO) last announced its quarterly earnings data on Wednesday, May 15th. The company reported $0.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.02. The firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Flowers Foods had a return on equity of 15.46% and a net margin of 3.98%. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.30 EPS. As a group, sell-side analysts expect that Flowers Foods will post 0.99 EPS for the current year.

In related news, insider Debo Mukherjee bought 1,550 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was bought at an average cost of $20.20 per share, for a total transaction of $31,310.00. Following the transaction, the insider now owns 1,550 shares of the company’s stock, valued at $31,310. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 8.17% of the stock is currently owned by insiders.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. grew its position in shares of Flowers Foods by 1.7% during the 1st quarter. BlackRock Inc. now owns 16,517,667 shares of the company’s stock worth $352,156,000 after buying an additional 279,339 shares during the period. Champlain Investment Partners LLC grew its position in shares of Flowers Foods by 1.8% during the 1st quarter. Champlain Investment Partners LLC now owns 6,293,150 shares of the company’s stock worth $134,170,000 after buying an additional 110,665 shares during the period. APG Asset Management N.V. grew its position in shares of Flowers Foods by 36.2% during the 4th quarter. APG Asset Management N.V. now owns 3,663,400 shares of the company’s stock worth $59,190,000 after buying an additional 972,700 shares during the period. Bank of New York Mellon Corp grew its position in shares of Flowers Foods by 27.5% during the 4th quarter. Bank of New York Mellon Corp now owns 3,395,361 shares of the company’s stock worth $62,713,000 after buying an additional 731,718 shares during the period. Finally, Victory Capital Management Inc. grew its position in shares of Flowers Foods by 10.5% during the 1st quarter. Victory Capital Management Inc. now owns 2,872,668 shares of the company’s stock worth $61,245,000 after buying an additional 273,093 shares during the period. Institutional investors own 66.99% of the company’s stock.

About Flowers Foods

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.

Further Reading: Gross Domestic Product (GDP)

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Analyst Recommendations for Flowers Foods (NYSE:FLO)

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