BTIM Corp. boosted its position in shares of Flowers Foods, Inc. (NYSE:FLO) by 4.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,185,145 shares of the company’s stock after buying an additional 46,117 shares during the period. BTIM Corp. owned 0.57% of Flowers Foods worth $20,515,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. TNB Financial bought a new stake in Flowers Foods during the first quarter worth approximately $20,125,000. Oxbow Advisors LLC raised its stake in Flowers Foods by 1.6% in the first quarter. Oxbow Advisors LLC now owns 23,440 shares of the company’s stock worth $455,000 after buying an additional 365 shares during the last quarter. Norges Bank bought a new stake in Flowers Foods during the fourth quarter worth approximately $25,343,000. Prudential Financial Inc. raised its stake in Flowers Foods by 186.5% in the first quarter. Prudential Financial Inc. now owns 302,816 shares of the company’s stock worth $5,878,000 after buying an additional 197,120 shares during the last quarter. Finally, Americafirst Capital Management LLC bought a new stake in Flowers Foods during the first quarter worth approximately $1,683,000. Institutional investors and hedge funds own 66.52% of the company’s stock.
Shares of Flowers Foods, Inc. (FLO) traded down 1.17% during mid-day trading on Friday, reaching $17.69. The company’s stock had a trading volume of 74,345 shares. Flowers Foods, Inc. has a 52-week low of $14.35 and a 52-week high of $21.00. The firm’s 50 day moving average is $17.76 and its 200-day moving average is $19.04. The company has a market capitalization of $3.70 billion, a PE ratio of 22.42 and a beta of 0.96.
Flowers Foods (NYSE:FLO) last posted its quarterly earnings results on Wednesday, May 17th. The company reported $0.25 earnings per share for the quarter, meeting the consensus estimate of $0.25. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.21 billion. Flowers Foods had a return on equity of 15.39% and a net margin of 4.22%. Flowers Foods’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.28 earnings per share. Analysts forecast that Flowers Foods, Inc. will post $0.87 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 23rd. Investors of record on Friday, June 9th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.80%. This is a positive change from Flowers Foods’s previous quarterly dividend of $0.16. The ex-dividend date was Wednesday, June 7th. Flowers Foods’s payout ratio is presently 87.18%.
A number of analysts recently commented on FLO shares. BidaskClub raised Flowers Foods from a “hold” rating to a “buy” rating in a research note on Thursday, June 29th. Zacks Investment Research lowered Flowers Foods from a “hold” rating to a “sell” rating in a research note on Friday, May 19th. TheStreet raised Flowers Foods from a “c+” rating to a “b-” rating in a research note on Thursday, May 18th. BMO Capital Markets reaffirmed a “hold” rating and set a $19.00 price objective on shares of Flowers Foods in a research note on Thursday. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $23.00 price objective on shares of Flowers Foods in a research note on Friday, May 26th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $20.14.
About Flowers Foods
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.
Want to see what other hedge funds are holding FLO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Flowers Foods, Inc. (NYSE:FLO).
Receive News & Ratings for Flowers Foods Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flowers Foods Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
