Flowers Foods, Inc. (FLO) Expected to Announce Quarterly Sales of $1.20 Billion

Wall Street brokerages expect that Flowers Foods, Inc. (NYSE:FLO) will post sales of $1.20 billion for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Flowers Foods’ earnings. Flowers Foods posted sales of $1.19 billion in the same quarter last year, which would indicate a positive year over year growth rate of 0.8%. The company is expected to announce its next earnings results on Wednesday, May 16th.

On average, analysts expect that Flowers Foods will report full-year sales of $1.20 billion for the current financial year, with estimates ranging from $3.93 billion to $3.96 billion. For the next year, analysts anticipate that the company will report sales of $4.01 billion per share, with estimates ranging from $3.95 billion to $4.07 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Flowers Foods.

Flowers Foods (NYSE:FLO) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.03. The firm had revenue of $873.60 million during the quarter, compared to the consensus estimate of $860.34 million. Flowers Foods had a net margin of 3.83% and a return on equity of 15.17%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.16 EPS.

A number of research firms have issued reports on FLO. TheStreet raised shares of Flowers Foods from a “c+” rating to a “b” rating in a report on Wednesday, February 7th. Pivotal Research cut their price objective on shares of Flowers Foods to $26.00 and set a “buy” rating for the company in a report on Thursday, February 8th. Stephens reissued a “hold” rating and issued a $20.00 price objective on shares of Flowers Foods in a report on Friday, February 9th. BMO Capital Markets boosted their price objective on shares of Flowers Foods from $19.00 to $20.00 and gave the company a “market perform” rating in a report on Wednesday, November 15th. Finally, Zacks Investment Research downgraded shares of Flowers Foods from a “hold” rating to a “sell” rating in a report on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $21.00.

In other news, insider Stephen R. Avera sold 68,908 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $19.33, for a total transaction of $1,331,991.64. Following the completion of the sale, the insider now owns 553,989 shares of the company’s stock, valued at approximately $10,708,607.37. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO R Steve Kinsey sold 116,067 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $19.39, for a total transaction of $2,250,539.13. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 189,935 shares of company stock valued at $3,679,598. 15.81% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of FLO. Truewealth LLC bought a new stake in shares of Flowers Foods during the 4th quarter worth approximately $119,000. Ffcm LLC lifted its holdings in shares of Flowers Foods by 1,298.6% during the 3rd quarter. Ffcm LLC now owns 6,965 shares of the company’s stock worth $131,000 after acquiring an additional 6,467 shares during the period. Advisor Group Inc. lifted its holdings in shares of Flowers Foods by 77.8% during the 4th quarter. Advisor Group Inc. now owns 6,831 shares of the company’s stock worth $132,000 after acquiring an additional 2,990 shares during the period. BB&T Securities LLC bought a new stake in shares of Flowers Foods during the 3rd quarter worth approximately $192,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Flowers Foods by 48.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,976 shares of the company’s stock worth $193,000 after acquiring an additional 3,266 shares during the period. 66.44% of the stock is owned by institutional investors.

Flowers Foods (NYSE FLO) traded up $0.44 during midday trading on Tuesday, reaching $21.35. 1,510,065 shares of the company’s stock were exchanged, compared to its average volume of 1,482,137. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.67. The company has a market cap of $4,475.17, a P/E ratio of 30.07, a P/E/G ratio of 3.27 and a beta of 0.91. Flowers Foods has a 52-week low of $16.80 and a 52-week high of $21.46.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Friday, March 2nd will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.19%. Flowers Foods’s dividend payout ratio (DPR) is presently 95.77%.

ILLEGAL ACTIVITY NOTICE: This piece of content was originally posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this piece of content on another site, it was illegally stolen and reposted in violation of US & international copyright & trademark legislation. The original version of this piece of content can be viewed at https://stocknewstimes.com/2018/02/18/flowers-foods-inc-flo-expected-to-announce-quarterly-sales-of-1-20-billion.html.

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.

Get a free copy of the Zacks research report on Flowers Foods (FLO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Flowers Foods (NYSE:FLO)

Receive News & Ratings for Flowers Foods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flowers Foods and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply