US Bancorp DE lowered its stake in Flowers Foods, Inc. (NYSE:FLO) by 0.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,924 shares of the company’s stock after selling 490 shares during the period. US Bancorp DE’s holdings in Flowers Foods were worth $1,228,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently bought and sold shares of the company. BlackRock Inc. raised its position in Flowers Foods by 13,803.5% in the first quarter. BlackRock Inc. now owns 14,447,449 shares of the company’s stock valued at $280,425,000 after buying an additional 14,343,537 shares during the last quarter. Wellington Shields & Co. LLC raised its position 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 valued at $129,376,000 after buying an additional 6,525,659 shares during the last quarter. Bank of New York Mellon Corp raised its position 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 valued at $77,450,000 after buying an additional 1,297,541 shares during the last quarter. TNB Financial bought a new position in Flowers Foods during the first quarter valued at about $20,125,000. Finally, Cornerstone Capital Management Holdings LLC. bought a new position in Flowers Foods during the first quarter valued at about $15,972,000. Institutional investors and hedge funds own 67.47% of the company’s stock.
Flowers Foods, Inc. (FLO) opened at 17.87 on Friday. The stock has a 50 day moving average price of $17.56 and a 200-day moving average price of $18.73. Flowers Foods, Inc. has a 1-year low of $14.51 and a 1-year high of $21.00. The stock has a market cap of $3.74 billion, a PE ratio of 23.54 and a beta of 0.97.
The business 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 annualized dividend and a yield of 3.81%. Flowers Foods’s dividend payout ratio is currently 90.67%.
FLO has been the topic of several recent research reports. BidaskClub upgraded Flowers Foods from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. Zacks Investment Research upgraded Flowers Foods from a “sell” rating to a “hold” rating in a research report on Tuesday, May 9th. Jefferies Group LLC cut Flowers Foods from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $23.00 to $19.00 in a report on Friday, July 28th. TheStreet upgraded 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 price objective on shares of Flowers Foods in a report on Thursday, July 20th. One 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. The stock currently has a consensus rating of “Hold” and an average target price of $19.67.
In related news, Chairman Amos R. Mcmullian purchased 20,000 shares of the business’s stock in a transaction on Monday, August 14th. The shares were bought at an average cost of $17.91 per share, with a total value of $358,200.00. Following the transaction, the chairman now owns 3,643,717 shares of the company’s stock, valued at $65,258,971.47. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 15.81% of the stock is currently owned by company insiders.
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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