Flowers Foods, Inc. (NYSE:FLO) – Research analysts at SunTrust Banks increased their FY2018 earnings per share estimates for shares of Flowers Foods in a report issued on Monday. SunTrust Banks analyst W. Chappell now forecasts that the company will earn $1.11 per share for the year, up from their prior forecast of $0.91. SunTrust Banks currently has a “Hold” rating and a $20.00 target price on the stock.
Several other research firms have also recently weighed in on FLO. BMO Capital Markets increased their price objective on Flowers Foods from $19.00 to $20.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 15th. Zacks Investment Research upgraded Flowers Foods from a “sell” rating to a “hold” rating in a research report on Tuesday, October 17th. TheStreet cut Flowers Foods from a “b-” rating to a “c” rating in a research report on Thursday, November 9th. Finally, Pivotal Research upgraded Flowers Foods from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research report on Thursday, November 9th. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $21.17.
Flowers Foods (NYSE:FLO) last posted its quarterly earnings data on Wednesday, November 8th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.03. The firm had revenue of $932.80 million for the quarter, compared to analysts’ expectations of $915.55 million. Flowers Foods had a return on equity of 15.16% and a net margin of 2.16%. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.21 EPS.
The business also recently declared a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date of this dividend was Thursday, November 30th. Flowers Foods’s payout ratio is currently 170.00%.
In related news, CFO R Steve Kinsey sold 116,067 shares of the firm’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $19.39, for a total value of $2,250,539.13. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Allen L. Shiver sold 177,081 shares of the firm’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $19.00, for a total value of $3,364,539.00. Following the completion of the sale, the chief executive officer now directly owns 978,353 shares in the company, valued at $18,588,707. The disclosure for this sale can be found here. Insiders sold 448,016 shares of company stock worth $8,588,807 in the last 90 days. 15.81% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Atlantic Trust Group LLC boosted its stake in Flowers Foods by 9.2% in the third quarter. Atlantic Trust Group LLC now owns 75,305 shares of the company’s stock valued at $1,417,000 after buying an additional 6,370 shares in the last quarter. California Public Employees Retirement System boosted its stake in Flowers Foods by 1.7% in the third quarter. California Public Employees Retirement System now owns 509,155 shares of the company’s stock valued at $9,577,000 after buying an additional 8,586 shares in the last quarter. Janney Capital Management LLC acquired a new stake in Flowers Foods in the third quarter valued at about $413,000. Vident Investment Advisory LLC acquired a new stake in Flowers Foods in the third quarter valued at about $367,000. Finally, Dimensional Fund Advisors LP boosted its stake in Flowers Foods by 16.2% in the third quarter. Dimensional Fund Advisors LP now owns 2,387,499 shares of the company’s stock valued at $44,908,000 after buying an additional 333,384 shares in the last quarter. 66.39% of the stock is currently owned by institutional investors and hedge funds.
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Flowers Foods Company 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.
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