Flowers Foods, Inc. (NYSE:FLO) announced a quarterly dividend on Friday, August 18th, RTT News reports. Stockholders of record on Friday, September 1st will be given a dividend of 0.17 per share on Friday, September 15th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.84%.
Flowers Foods has raised its dividend by an average of 15.4% annually over the last three years and has increased its dividend every year for the last 11 years. Flowers Foods has a dividend payout ratio of 79.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Flowers Foods to earn $0.92 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 73.9%.
Flowers Foods (NYSE FLO) traded up 0.06% during mid-day trading on Friday, hitting $17.72. The stock had a trading volume of 161,740 shares. Flowers Foods has a one year low of $14.51 and a one year high of $21.00. The stock has a market cap of $3.71 billion, a PE ratio of 23.35 and a beta of 0.97. The firm’s 50-day moving average is $17.55 and its 200 day moving average is $18.75.
Flowers Foods (NYSE:FLO) last released its quarterly earnings results on Wednesday, August 9th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. The business had revenue of $926.64 million for the quarter, compared to the consensus estimate of $931.26 million. Flowers Foods had a net margin of 4.06% and a return on equity of 14.79%. Flowers Foods’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter last year, the firm earned $0.26 EPS. Equities research analysts expect that Flowers Foods will post $0.85 EPS for the current year.
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A number of research analysts have recently weighed in on the stock. BidaskClub upgraded shares of Flowers Foods from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. Zacks Investment Research downgraded shares of Flowers Foods from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Jefferies Group LLC downgraded shares of Flowers Foods from a “buy” rating to a “hold” rating and dropped their target price for the stock from $23.00 to $19.00 in a report on Friday, July 28th. TheStreet upgraded shares of Flowers Foods from a “c+” rating to a “b-” rating in a report on Thursday, May 18th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $19.00 target price on shares of Flowers Foods in a report on Thursday, July 20th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $19.67.
In other news, Chairman Amos R. Mcmullian bought 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The shares were purchased at an average price of $17.91 per share, for a total transaction of $358,200.00. Following the acquisition, the chairman now directly owns 3,643,717 shares of the company’s stock, valued at approximately $65,258,971.47. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 15.81% of the company’s stock.
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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