Wellington Shields Capital Management LLC decreased its position in shares of Flowers Foods, Inc. (NYSE:FLO) by 0.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,156,279 shares of the company’s stock after selling 3,750 shares during the period. Flowers Foods accounts for 20.2% of Wellington Shields Capital Management LLC’s holdings, making the stock its largest position. Wellington Shields Capital Management LLC owned approximately 3.42% of Flowers Foods worth $123,875,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the stock. Bronfman E.L. Rothschild L.P. increased its stake in shares of Flowers Foods by 58.8% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 5,195 shares of the company’s stock valued at $101,000 after buying an additional 1,923 shares in the last quarter. Ledyard National Bank increased its stake in shares of Flowers Foods by 6.0% in the second quarter. Ledyard National Bank now owns 8,810 shares of the company’s stock valued at $153,000 after buying an additional 500 shares in the last quarter. Edmp Inc. acquired a new stake in shares of Flowers Foods during the first quarter valued at approximately $194,000. Envestnet Asset Management Inc. increased its stake in shares of Flowers Foods by 85.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 10,131 shares of the company’s stock valued at $202,000 after buying an additional 4,654 shares in the last quarter. Finally, Breton Hill Capital Ltd. acquired a new stake in shares of Flowers Foods during the second quarter valued at approximately $215,000. Institutional investors and hedge funds own 67.47% of the company’s stock.
Flowers Foods, Inc. (NYSE FLO) opened at 18.01 on Tuesday. The company’s 50-day moving average price is $17.54 and its 200 day moving average price is $18.78. Flowers Foods, Inc. has a 52-week low of $14.51 and a 52-week high of $21.00. The stock has a market capitalization of $3.77 billion, a P/E ratio of 23.73 and a beta of 0.97.
Flowers Foods (NYSE:FLO) last posted its quarterly earnings data on Wednesday, August 9th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. The business had revenue of $926.64 million during the quarter, compared to analyst estimates of $931.26 million. Flowers Foods had a net margin of 4.06% and a return on equity of 14.79%. The company’s revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.26 earnings per share. On average, equities research analysts predict that Flowers Foods, Inc. will post $0.86 earnings per share for the current fiscal year.
Several brokerages have commented on FLO. Zacks Investment Research upgraded Flowers Foods from a “sell” rating to a “hold” rating in a research note on Tuesday, May 9th. BidaskClub upgraded Flowers Foods from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. Jefferies Group LLC restated a “buy” rating and issued a $23.00 price target on shares of Flowers Foods in a research note on Friday, May 26th. BMO Capital Markets restated a “hold” rating and issued a $19.00 price target on shares of Flowers Foods in a research note on Thursday, July 20th. Finally, TheStreet upgraded Flowers Foods from a “c+” rating to a “b-” rating in a research note on Thursday, May 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $19.67.
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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