Shell Asset Management Co. continued to hold its stake in Flowers Foods, Inc. (NYSE:FLO) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 55,668 shares of the company’s stock at the end of the second quarter. Shell Asset Management Co.’s holdings in Flowers Foods were worth $964,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in 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 increased its stake in 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 increased its stake in 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. TNB Financial bought a new stake in Flowers Foods during the first quarter worth about $20,125,000. Finally, Cornerstone Capital Management Holdings LLC. bought a new stake in Flowers Foods during the first quarter worth about $15,972,000. 67.47% of the stock is currently owned by institutional investors and hedge funds.
Shares of Flowers Foods, Inc. (NYSE:FLO) traded up 0.90% during midday trading on Friday, reaching $17.87. 1,119,454 shares of the company traded hands. Flowers Foods, Inc. has a 12 month low of $14.51 and a 12 month high of $21.00. The company’s 50 day moving average is $17.56 and its 200-day moving average is $18.73. The stock has a market capitalization of $3.74 billion, a price-to-earnings ratio of 23.54 and a beta of 0.97.
Flowers Foods (NYSE:FLO) last announced 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 firm had revenue of $926.64 million for the quarter, compared to analysts’ expectations 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 was down .9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.26 earnings per share. Equities research analysts forecast that Flowers Foods, Inc. will post $0.85 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.81%. Flowers Foods’s dividend payout ratio (DPR) is 90.67%.
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A number of equities research analysts have recently issued reports on FLO shares. BidaskClub raised shares of Flowers Foods from a “hold” rating to a “buy” rating in a research note on Thursday, June 29th. Zacks Investment Research raised shares of Flowers Foods from a “sell” rating to a “hold” rating in a research note on Tuesday, May 9th. Jefferies Group LLC downgraded shares of Flowers Foods from a “buy” rating to a “hold” rating and reduced their price target for the company from $23.00 to $19.00 in a research note on Friday, July 28th. TheStreet raised shares of Flowers Foods from a “c+” rating to a “b-” rating in a research note on Thursday, May 18th. Finally, BMO Capital Markets reissued a “hold” rating and issued 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 assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $19.67.
In other Flowers Foods news, Chairman Amos R. Mcmullian purchased 20,000 shares of Flowers Foods stock in a transaction on Monday, August 14th. The shares were purchased at an average cost of $17.91 per share, with a total value of $358,200.00. Following the completion of the transaction, the chairman now directly owns 3,643,717 shares in the company, valued at approximately $65,258,971.47. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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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