Alps Advisors Inc. boosted its stake in Flowers Foods, Inc. (NYSE:FLO) by 25.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,485 shares of the company’s stock after buying an additional 6,908 shares during the period. Alps Advisors Inc.’s holdings in Flowers Foods were worth $597,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of FLO. Bronfman E.L. Rothschild L.P. raised 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 raised 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. Crescent Grove Advisors LLC purchased a new stake in shares of Flowers Foods during the second quarter valued at about $173,000. ARP Americas LLC purchased a new stake in shares of Flowers Foods during the second quarter valued at about $213,000. Finally, Breton Hill Capital Ltd. purchased a new stake in shares of Flowers Foods during the second quarter valued at about $215,000. 67.47% of the stock is owned by institutional investors and hedge funds.
Shares of Flowers Foods, Inc. (NYSE FLO) opened at 17.92 on Tuesday. The stock has a market cap of $3.75 billion, a price-to-earnings ratio of 23.61 and a beta of 0.97. The stock’s 50 day moving average price is $17.58 and its 200-day moving average price is $18.70. Flowers Foods, Inc. has a 1-year low of $14.51 and a 1-year high of $21.00.
Flowers Foods (NYSE:FLO) last posted its quarterly earnings data on Wednesday, August 9th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.01. Flowers Foods had a return on equity of 14.79% and a net margin of 4.06%. The company had revenue of $926.64 million during the quarter, compared to analysts’ expectations of $931.26 million. During the same quarter in the previous year, the business earned $0.26 EPS. Flowers Foods’s revenue was down .9% compared to the same quarter last year. On average, equities research analysts forecast that Flowers Foods, Inc. will post $0.85 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date is Wednesday, August 30th. Flowers Foods’s payout ratio is currently 90.67%.
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FLO has been the subject of a number of analyst reports. Zacks Investment Research raised Flowers Foods from a “sell” rating to a “hold” rating in a research note on Tuesday, May 9th. BidaskClub raised Flowers Foods from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. Jefferies Group LLC reissued a “buy” rating and set a $23.00 price objective on shares of Flowers Foods in a research note on Friday, May 26th. BMO Capital Markets reissued a “hold” rating and set a $19.00 price objective on shares of Flowers Foods in a research note on Thursday, July 20th. Finally, TheStreet raised 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 given a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $19.67.
In other Flowers Foods news, Chairman Amos R. Mcmullian acquired 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was bought at an average price of $17.91 per share, for a total transaction of $358,200.00. Following the acquisition, the chairman now directly owns 3,643,717 shares in the company, valued at $65,258,971.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 15.81% of the stock is owned by insiders.
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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