Bank of New York Mellon Corp Sells 36,479 Shares of Flowers Foods, Inc. $FLO

Bank of New York Mellon Corp cut its position in Flowers Foods, Inc. (NYSE:FLO) by 1.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,325,193 shares of the company’s stock after selling 36,479 shares during the period. Bank of New York Mellon Corp’s holdings in Flowers Foods were worth $37,157,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Flowers Foods by 270.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 7,449,240 shares of the company’s stock worth $141,610,000 after acquiring an additional 5,437,735 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its position in Flowers Foods by 91.6% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 8,392,872 shares of the company’s stock valued at $159,548,000 after purchasing an additional 4,011,428 shares during the last quarter. Millennium Management LLC boosted its stake in Flowers Foods by 209.6% in the first quarter. Millennium Management LLC now owns 949,688 shares of the company’s stock worth $18,054,000 after purchasing an additional 642,942 shares in the last quarter. Cubist Systematic Strategies LLC grew its holdings in shares of Flowers Foods by 8,028.8% during the first quarter. Cubist Systematic Strategies LLC now owns 489,272 shares of the company’s stock worth $9,301,000 after purchasing an additional 483,253 shares during the last quarter. Finally, Nuveen LLC bought a new stake in shares of Flowers Foods during the first quarter worth $6,134,000. Institutional investors and hedge funds own 75.45% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on FLO shares. Truist Financial reduced their price target on shares of Flowers Foods from $20.00 to $15.00 and set a “hold” rating on the stock in a research report on Monday, August 18th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Flowers Foods in a research report on Wednesday, October 8th. Finally, DA Davidson reissued a “neutral” rating and set a $15.00 price target on shares of Flowers Foods in a research note on Monday, August 18th. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $15.33.

Flowers Foods Stock Down 0.6%

Shares of NYSE FLO opened at $11.52 on Thursday. Flowers Foods, Inc. has a 1 year low of $11.33 and a 1 year high of $23.04. The firm’s 50-day moving average is $12.87 and its 200-day moving average is $15.08. The company has a current ratio of 1.26, a quick ratio of 0.90 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $2.43 billion, a PE ratio of 11.07 and a beta of 0.26.

Flowers Foods (NYSE:FLO) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.23 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.23. Flowers Foods had a net margin of 4.30% and a return on equity of 17.85%. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the previous year, the firm posted $0.33 earnings per share. Flowers Foods’s revenue for the quarter was up 3.0% compared to the same quarter last year. Flowers Foods has set its FY 2025 guidance at 1.020-1.08 EPS. Equities analysts expect that Flowers Foods, Inc. will post 1.18 EPS for the current year.

Flowers Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, September 5th were paid a dividend of $0.2475 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $0.99 dividend on an annualized basis and a dividend yield of 8.6%. Flowers Foods’s payout ratio is 107.61%.

Insider Transactions at Flowers Foods

In other news, CEO Ryals Mcmullian sold 350,000 shares of the business’s stock in a transaction dated Thursday, September 25th. The stock was sold at an average price of $12.82, for a total transaction of $4,487,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,231,380 shares in the company, valued at approximately $15,786,291.60. The trade was a 22.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Cindy Cox sold 3,600 shares of the company’s stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $15.00, for a total value of $54,000.00. Following the completion of the sale, the insider directly owned 16,994 shares of the company’s stock, valued at approximately $254,910. This trade represents a 17.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 11.57% of the company’s stock.

About Flowers Foods

Flowers Foods, Inc produces and markets packaged bakery food products in the United States. Its principal products include fresh breads, buns, rolls, snack items, bagels, English muffins, and tortillas, as well as frozen breads and rolls under the Nature's Own, Dave's Killer Bread, Wonder, Canyon Bakehouse, Mrs.