Wendell David Associates Inc. cut its stake in Flowers Foods, Inc. (NYSE:FLO) by 8.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,750 shares of the company’s stock after selling 5,500 shares during the quarter. Wendell David Associates Inc.’s holdings in Flowers Foods were worth $1,115,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Flowers Foods by 10.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,710 shares of the company’s stock valued at $116,000 after acquiring an additional 629 shares in the last quarter. Ffcm LLC grew its stake in shares of Flowers Foods by 1,298.6% in the third quarter. Ffcm LLC now owns 6,965 shares of the company’s stock valued at $131,000 after acquiring an additional 6,467 shares in the last quarter. BB&T Securities LLC acquired a new position in shares of Flowers Foods in the third quarter valued at about $192,000. Round Table Services LLC acquired a new position in shares of Flowers Foods in the third quarter valued at about $208,000. Finally, Honkamp Krueger Financial Services Inc. acquired a new position in shares of Flowers Foods in the third quarter valued at about $293,000. 66.38% of the stock is currently owned by institutional investors.
Several equities analysts recently commented on the stock. BMO Capital Markets upped their price target on shares of Flowers Foods from $19.00 to $20.00 and gave the company a “market perform” rating in a research note on Wednesday, November 15th. Zacks Investment Research upgraded shares of Flowers Foods from a “sell” rating to a “hold” rating in a research note on Tuesday, October 17th. SunTrust Banks reiterated a “hold” rating and set a $20.00 price objective on shares of Flowers Foods in a research note on Friday, November 10th. TheStreet downgraded shares of Flowers Foods from a “b-” rating to a “c” rating in a research note on Thursday, November 9th. Finally, Pivotal Research reiterated a “buy” rating and set a $26.00 price objective (up from $23.00) on shares of Flowers Foods in a research note on Friday. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Flowers Foods currently has a consensus rating of “Buy” and a consensus price target of $21.20.
Flowers Foods (NYSE:FLO) last announced its quarterly earnings data on Wednesday, November 8th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. The firm had revenue of $932.80 million for the quarter, compared to the consensus estimate of $915.55 million. Flowers Foods had a net margin of 2.16% and a return on equity of 15.16%. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.21 earnings per share. research analysts forecast that Flowers Foods, Inc. will post 0.86 earnings per share for the current year.
In other Flowers Foods news, CFO R Steve Kinsey sold 116,067 shares of the stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $19.39, for a total transaction of $2,250,539.13. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Tonja W. Taylor sold 4,960 shares of the stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $19.57, for a total transaction of $97,067.20. Following the sale, the insider now owns 22,055 shares in the company, valued at $431,616.35. The disclosure for this sale can be found here. Insiders have sold 448,016 shares of company stock worth $8,588,807 over the last quarter. Corporate insiders own 15.81% of the company’s stock.
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Flowers Foods Company Profile
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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