Meritage Portfolio Management Has $3.62 Million Stock Position in Flowers Foods, Inc. (NYSE:FLO)

Meritage Portfolio Management boosted its position in shares of Flowers Foods, Inc. (NYSE:FLO) by 64.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 160,588 shares of the company’s stock after purchasing an additional 62,923 shares during the quarter. Meritage Portfolio Management’s holdings in Flowers Foods were worth $3,615,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. HM Payson & Co. bought a new stake in shares of Flowers Foods during the third quarter worth approximately $30,000. Financial Connections Group Inc. acquired a new stake in Flowers Foods during the 4th quarter worth $30,000. NBC Securities Inc. bought a new stake in shares of Flowers Foods during the 3rd quarter valued at $32,000. Gladius Capital Management LP boosted its position in shares of Flowers Foods by 46.4% in the 3rd quarter. Gladius Capital Management LP now owns 1,539 shares of the company’s stock worth $34,000 after purchasing an additional 488 shares during the last quarter. Finally, GAMMA Investing LLC acquired a new stake in shares of Flowers Foods during the fourth quarter worth $34,000. 75.45% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Edward J. Jr. Casey acquired 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were bought at an average price of $23.55 per share, with a total value of $117,750.00. Following the acquisition, the director now directly owns 20,330 shares in the company, valued at approximately $478,771.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Terry S. Thomas sold 36,577 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $23.11, for a total transaction of $845,294.47. Following the completion of the transaction, the insider now owns 42,740 shares in the company, valued at $987,721.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Edward J. Jr. Casey bought 5,000 shares of Flowers Foods stock in a transaction dated Tuesday, April 2nd. The stock was acquired at an average price of $23.55 per share, with a total value of $117,750.00. Following the purchase, the director now directly owns 20,330 shares of the company’s stock, valued at $478,771.50. The disclosure for this purchase can be found here. Corporate insiders own 11.49% of the company’s stock.

Flowers Foods Stock Down 0.6 %

Flowers Foods stock traded down $0.14 during mid-day trading on Thursday, reaching $24.89. The company’s stock had a trading volume of 986,046 shares, compared to its average volume of 1,180,804. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.76 and a current ratio of 1.04. The business’s 50 day simple moving average is $23.11 and its 200 day simple moving average is $22.38. The company has a market capitalization of $5.26 billion, a price-to-earnings ratio of 42.98, a price-to-earnings-growth ratio of 4.67 and a beta of 0.39. Flowers Foods, Inc. has a 12 month low of $19.64 and a 12 month high of $29.10.

Flowers Foods (NYSE:FLO) last posted its earnings results on Friday, February 9th. The company reported $0.20 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.20. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.13 billion. Flowers Foods had a return on equity of 18.15% and a net margin of 2.42%. The firm’s revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.23 EPS. As a group, research analysts anticipate that Flowers Foods, Inc. will post 1.25 earnings per share for the current year.

Flowers Foods Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.70%. The ex-dividend date was Thursday, February 29th. Flowers Foods’s dividend payout ratio is currently 158.62%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. StockNews.com raised Flowers Foods from a “hold” rating to a “buy” rating in a research note on Tuesday, April 9th. DA Davidson initiated coverage on shares of Flowers Foods in a research report on Friday, March 1st. They issued a “neutral” rating and a $24.00 price target on the stock. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $24.00.

About Flowers Foods

Flowers Foods, Inc produces and markets packaged bakery food products in the United States. Its principal products include fresh breads, buns, rolls, snack items, bagels, English muffins, and tortillas, as well as frozen breads and rolls under the Nature's Own, Dave's Killer Bread, Wonder, Canyon Bakehouse, Mrs.