Several other equities analysts also recently weighed in on the company. Truist Financial dropped their price objective on Flowers Foods from $25.00 to $23.00 and set a hold rating for the company in a research note on Monday, November 13th. TheStreet downgraded Flowers Foods from a b- rating to a c+ rating in a research note on Monday, October 16th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Flowers Foods presently has a consensus rating of Hold and a consensus target price of $24.00.
Flowers Foods Stock Performance
Flowers Foods (NYSE:FLO – Get Free Report) last released its quarterly earnings data on Friday, February 9th. The company reported $0.20 earnings per share for the quarter, meeting the consensus estimate of $0.20. Flowers Foods had a return on equity of 18.15% and a net margin of 2.42%. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the business posted $0.23 EPS. Flowers Foods’s quarterly revenue was up 4.3% on a year-over-year basis. On average, equities analysts forecast that Flowers Foods will post 1.28 EPS for the current year.
Flowers Foods Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend was Thursday, November 30th. Flowers Foods’s payout ratio is 158.62%.
Insiders Place Their Bets
In related news, CFO R Steve Kinsey purchased 1,780 shares of the company’s stock in a transaction on Wednesday, December 20th. The stock was bought at an average price of $22.46 per share, with a total value of $39,978.80. Following the completion of the transaction, the chief financial officer now owns 399,520 shares of the company’s stock, valued at approximately $8,973,219.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Flowers Foods news, CEO Ryals Mcmullian acquired 9,100 shares of the firm’s stock in a transaction dated Monday, December 18th. The shares were acquired at an average price of $21.99 per share, for a total transaction of $200,109.00. Following the completion of the acquisition, the chief executive officer now directly owns 849,028 shares of the company’s stock, valued at $18,670,125.72. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO R Steve Kinsey acquired 1,780 shares of the firm’s stock in a transaction dated Wednesday, December 20th. The shares were acquired at an average price of $22.46 per share, for a total transaction of $39,978.80. Following the acquisition, the chief financial officer now directly owns 399,520 shares of the company’s stock, valued at $8,973,219.20. The disclosure for this purchase can be found here. 11.49% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Flowers Foods
Hedge funds have recently made changes to their positions in the business. Fortis Capital Advisors LLC acquired a new stake in shares of Flowers Foods during the fourth quarter worth $30,000. Financial Connections Group Inc. acquired a new position in Flowers Foods in the fourth quarter valued at $30,000. HM Payson & Co. acquired a new position in Flowers Foods in the third quarter valued at $30,000. NBC Securities Inc. acquired a new position in Flowers Foods in the third quarter valued at $32,000. Finally, GAMMA Investing LLC acquired a new position in Flowers Foods in the fourth quarter valued at $34,000. Institutional investors and hedge funds own 78.55% of the company’s stock.
Flowers Foods Company Profile
Flowers Foods, Inc produces and markets packaged bakery food products in the United States. Its principal products include fresh breads, buns, rolls, snack cakes, and tortillas, as well as frozen breads and rolls under the Nature's Own, Dave's Killer Bread, Wonder, Canyon Bakehouse, Mrs. Freshley's, and Tastykake brand names.
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