Wall Street brokerages expect Flowers Foods, Inc. (NYSE:FLO) to post $857.15 million in sales for the current quarter, according to Zacks. Two analysts have made estimates for Flowers Foods’ earnings, with the lowest sales estimate coming in at $855.30 million and the highest estimate coming in at $859.00 million. Flowers Foods reported sales of $868.72 million in the same quarter last year, which indicates a negative year-over-year growth rate of 1.3%. The business is scheduled to issue its next earnings report on Monday, February 12th.
According to Zacks, analysts expect that Flowers Foods will report full year sales of $857.15 million for the current year, with estimates ranging from $3.88 billion to $3.91 billion. For the next year, analysts forecast that the company will report sales of $3.94 billion per share, with estimates ranging from $3.91 billion to $3.95 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Flowers Foods.
Flowers Foods (NYSE:FLO) last posted its quarterly earnings results on Wednesday, November 8th. The company reported $0.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.03. The company had revenue of $932.80 million for the quarter, compared to the consensus estimate of $915.55 million. Flowers Foods had a return on equity of 15.16% and a net margin of 2.16%. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.21 EPS.
In related news, insider Tonja W. Taylor sold 4,960 shares of the firm’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $19.57, for a total transaction of $97,067.20. Following the sale, the insider now owns 22,055 shares of the company’s stock, valued at approximately $431,616.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Allen L. Shiver sold 177,081 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $19.00, for a total value of $3,364,539.00. Following the sale, the chief executive officer now directly owns 978,353 shares in the company, valued at approximately $18,588,707. The disclosure for this sale can be found here. Insiders have sold a total of 448,016 shares of company stock worth $8,588,807 in the last ninety days. 15.81% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of the stock. Arcus Capital Partners LLC raised its stake in Flowers Foods by 1.0% during the 2nd quarter. Arcus Capital Partners LLC now owns 60,141 shares of the company’s stock worth $1,041,000 after buying an additional 575 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Flowers Foods by 10.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,710 shares of the company’s stock valued at $116,000 after purchasing an additional 629 shares during the period. State of Wisconsin Investment Board raised its stake in shares of Flowers Foods by 2.1% in the 2nd quarter. State of Wisconsin Investment Board now owns 35,233 shares of the company’s stock valued at $610,000 after purchasing an additional 710 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Flowers Foods by 1.1% in the 2nd quarter. PNC Financial Services Group Inc. now owns 66,543 shares of the company’s stock valued at $1,152,000 after purchasing an additional 753 shares during the period. Finally, Mutual of America Capital Management LLC raised its stake in shares of Flowers Foods by 0.5% in the 2nd quarter. Mutual of America Capital Management LLC now owns 149,240 shares of the company’s stock valued at $2,583,000 after purchasing an additional 762 shares during the period. 66.39% of the stock is currently owned by institutional investors and hedge funds.
Flowers Foods (FLO) traded down $0.63 during mid-day trading on Wednesday, hitting $18.65. The stock had a trading volume of 1,990,000 shares, compared to its average volume of 1,200,000. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.28. The firm has a market cap of $3,910.00, a P/E ratio of 46.63, a P/E/G ratio of 3.38 and a beta of 1.04. Flowers Foods has a one year low of $16.80 and a one year high of $21.00.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.65%. The ex-dividend date was Thursday, November 30th. Flowers Foods’s payout ratio is presently 170.00%.
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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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