Flowers Foods, Inc. (NYSE:FLO) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Thursday.
Other analysts also recently issued research reports about the stock. Jefferies Group LLC downgraded shares of Flowers Foods from a “buy” rating to a “hold” rating and cut their price objective for the company from $23.00 to $19.00 in a report on Friday, July 28th. BMO Capital Markets reiterated a “hold” rating and issued a $19.00 price objective on shares of Flowers Foods in a report on Thursday, July 20th. TheStreet upgraded shares of Flowers Foods from a “c+” rating to a “b-” rating in a report on Thursday, May 18th. Finally, Zacks Investment Research upgraded shares of Flowers Foods from a “sell” rating to a “hold” rating in a report on Tuesday, May 9th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Flowers Foods currently has a consensus rating of “Hold” and a consensus target price of $19.57.
Shares of Flowers Foods (NYSE FLO) traded up 0.142% during midday trading on Thursday, hitting $17.655. The stock had a trading volume of 283,535 shares. Flowers Foods has a 52-week low of $14.35 and a 52-week high of $21.00. The stock has a market cap of $3.69 billion, a PE ratio of 22.376 and a beta of 0.97. The firm has a 50 day moving average price of $17.58 and a 200-day moving average price of $18.92.
Flowers Foods (NYSE:FLO) last released its quarterly earnings data on Wednesday, May 17th. The company reported $0.25 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.25. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.21 billion. Flowers Foods had a net margin of 4.22% and a return on equity of 15.39%. Flowers Foods’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.28 EPS. Equities analysts predict that Flowers Foods will post $0.87 EPS for the current fiscal year.
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Several hedge funds have recently made changes to their positions in FLO. BlackRock Inc. increased its stake in shares of Flowers Foods by 13,803.5% in the first quarter. BlackRock Inc. now owns 14,447,449 shares of the company’s stock worth $280,425,000 after buying an additional 14,343,537 shares in the last quarter. Wellington Shields & Co. LLC increased its stake in shares of Flowers Foods by 4,668.7% in the first quarter. Wellington Shields & Co. LLC now owns 6,665,434 shares of the company’s stock worth $129,376,000 after buying an additional 6,525,659 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Flowers Foods by 48.2% in the first quarter. Bank of New York Mellon Corp now owns 3,990,226 shares of the company’s stock worth $77,450,000 after buying an additional 1,297,541 shares in the last quarter. Norges Bank purchased a new stake in shares of Flowers Foods during the fourth quarter worth about $25,343,000. Finally, TNB Financial purchased a new stake in shares of Flowers Foods during the first quarter worth about $20,125,000. Institutional investors and hedge funds own 66.66% of the company’s stock.
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.
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