Cramer Rosenthal Mcglynn LLC Cuts Position in Flowers Foods, Inc. (FLO)

Cramer Rosenthal Mcglynn LLC cut its stake in Flowers Foods, Inc. (NYSE:FLO) by 45.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,182,124 shares of the company’s stock after selling 978,735 shares during the quarter. Cramer Rosenthal Mcglynn LLC owned about 0.56% of Flowers Foods worth $22,236,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in FLO. Bank of Montreal Can raised its position in Flowers Foods by 5.9% in the second quarter. Bank of Montreal Can now owns 45,555 shares of the company’s stock valued at $789,000 after purchasing an additional 2,546 shares during the period. Russell Investments Group Ltd. raised its position in Flowers Foods by 106.2% in the second quarter. Russell Investments Group Ltd. now owns 726,537 shares of the company’s stock valued at $12,576,000 after purchasing an additional 374,159 shares during the period. ING Groep NV purchased a new position in Flowers Foods in the second quarter valued at about $388,000. Great West Life Assurance Co. Can raised its position in Flowers Foods by 2.4% in the second quarter. Great West Life Assurance Co. Can now owns 110,870 shares of the company’s stock valued at $1,918,000 after purchasing an additional 2,569 shares during the period. Finally, Texas Permanent School Fund raised its position in Flowers Foods by 1.0% in the second quarter. Texas Permanent School Fund now owns 134,429 shares of the company’s stock valued at $2,327,000 after purchasing an additional 1,330 shares during the period. 66.44% of the stock is currently owned by institutional investors.

Several research analysts have commented on FLO shares. TheStreet lowered Flowers Foods from a “b-” rating to a “c” rating in a research report on Thursday, November 9th. Jefferies Group reissued a “hold” rating and issued a $19.00 price objective on shares of Flowers Foods in a research report on Thursday, August 31st. Pivotal Research raised Flowers Foods from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research report on Thursday, November 9th. Zacks Investment Research raised Flowers Foods from a “sell” rating to a “hold” rating in a research report on Tuesday, October 17th. Finally, SunTrust Banks reissued a “hold” rating and issued a $20.00 price objective on shares of Flowers Foods in a research report on Friday, November 10th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $21.43.

In related news, insider Robert L. Benton, Jr. sold 18,500 shares of Flowers Foods stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $18.83, for a total value of $348,355.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tonja W. Taylor sold 4,960 shares of Flowers Foods stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $19.57, for a total value of $97,067.20. Following the completion of the transaction, the insider now owns 22,055 shares of the company’s stock, valued at $431,616.35. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 509,689 shares of company stock worth $9,743,948. Corporate insiders own 15.81% of the company’s stock.

Shares of Flowers Foods, Inc. (NYSE:FLO) traded down $0.13 during midday trading on Wednesday, hitting $19.98. The stock had a trading volume of 1,493,600 shares, compared to its average volume of 1,368,614. Flowers Foods, Inc. has a twelve month low of $15.68 and a twelve month high of $21.00. The stock has a market capitalization of $4,215.25, a price-to-earnings ratio of 22.85, a price-to-earnings-growth ratio of 3.82 and a beta of 1.04. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.28.

Flowers Foods (NYSE:FLO) last announced its earnings results on Wednesday, November 8th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.03. Flowers Foods had a return on equity of 15.16% and a net margin of 2.16%. The business had revenue of $932.80 million for the quarter, compared to analyst estimates of $915.55 million. During the same period in the previous year, the company earned $0.21 earnings per share. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. research analysts expect that Flowers Foods, Inc. will post 0.86 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date is Thursday, November 30th. Flowers Foods’s payout ratio is 170.00%.

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Flowers Foods Profile

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.

Institutional Ownership by Quarter for Flowers Foods (NYSE:FLO)

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