Paloma Partners Management Co bought a new position in Flowers Foods, Inc. (NYSE:FLO) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,762 shares of the company’s stock, valued at approximately $229,000.
A number of other institutional investors have also modified their holdings of FLO. BlackRock Inc. raised its position in shares of Flowers Foods by 13,803.5% in the first quarter. BlackRock Inc. now owns 14,447,449 shares of the company’s stock worth $280,425,000 after buying an additional 14,343,537 shares during the period. Wellington Shields & Co. LLC raised its position in shares of Flowers Foods by 4,668.7% in the first quarter. Wellington Shields & Co. LLC now owns 6,665,434 shares of the company’s stock worth $129,376,000 after buying an additional 6,525,659 shares during the period. Bank of New York Mellon Corp raised its position in shares of Flowers Foods by 48.2% in the first quarter. Bank of New York Mellon Corp now owns 3,990,226 shares of the company’s stock worth $77,450,000 after buying an additional 1,297,541 shares during the period. Norges Bank acquired a new position in shares of Flowers Foods during the fourth quarter worth $25,343,000. Finally, TNB Financial acquired a new position in shares of Flowers Foods during the first quarter worth $20,125,000. 66.64% of the stock is owned by institutional investors and hedge funds.
Shares of Flowers Foods, Inc. (NYSE:FLO) opened at 17.68 on Friday. Flowers Foods, Inc. has a one year low of $14.51 and a one year high of $21.00. The stock has a market capitalization of $3.70 billion, a PE ratio of 23.29 and a beta of 0.97. The stock’s 50 day moving average price is $17.53 and its 200 day moving average price is $18.81.
Flowers Foods (NYSE:FLO) last posted its earnings results on Wednesday, August 9th. The company reported $0.24 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 for the quarter, compared to the consensus estimate of $931.26 million. During the same quarter in the previous year, the business earned $0.26 earnings per share. The company’s revenue for the quarter was down .9% on a year-over-year basis. Equities research analysts predict that Flowers Foods, Inc. will post $0.87 EPS for the current fiscal year.
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A number of equities analysts have weighed in on FLO shares. Zacks Investment Research lowered Flowers Foods from a “hold” rating to a “sell” rating in a research report on Tuesday, April 18th. BidaskClub upgraded Flowers Foods from a “hold” rating to a “buy” rating in a research note on Thursday, June 29th. TheStreet upgraded Flowers Foods from a “c+” rating to a “b-” rating in a research note on Thursday, May 18th. Jefferies Group LLC downgraded Flowers Foods from a “buy” rating to a “hold” rating and cut their price target for the company from $23.00 to $19.00 in a research note on Friday, July 28th. Finally, BMO Capital Markets restated a “hold” rating and set a $19.00 price target on shares of Flowers Foods in a research note on Thursday, July 20th. 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 presently has a consensus rating of “Hold” and an average target price of $19.57.
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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