Texas Permanent School Fund decreased its position in Flowers Foods, Inc. (NYSE:FLO) by 7.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 124,686 shares of the company’s stock after selling 9,805 shares during the period. Texas Permanent School Fund’s holdings in Flowers Foods were worth $2,408,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Jolley Asset Management LLC lifted its holdings in Flowers Foods by 2.6% in the fourth quarter. Jolley Asset Management LLC now owns 239,786 shares of the company’s stock valued at $4,630,000 after buying an additional 6,127 shares during the period. Fox Run Management L.L.C. acquired a new position in shares of Flowers Foods during the fourth quarter valued at about $195,000. Alpha Windward LLC acquired a new position in shares of Flowers Foods during the fourth quarter valued at about $540,000. Schwab Charles Investment Management Inc. raised its holdings in shares of Flowers Foods by 3.2% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,693,851 shares of the company’s stock valued at $32,709,000 after purchasing an additional 52,959 shares during the period. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in shares of Flowers Foods by 19.4% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 59,761 shares of the company’s stock valued at $1,154,000 after purchasing an additional 9,697 shares during the period. Institutional investors and hedge funds own 66.46% of the company’s stock.
Flowers Foods, Inc. (NYSE FLO) opened at $18.59 on Tuesday. Flowers Foods, Inc. has a fifty-two week low of $16.80 and a fifty-two week high of $21.00. The firm has a market cap of $4,018.22, a PE ratio of 21.78, a PEG ratio of 3.24 and a beta of 0.91. The company has a current ratio of 1.28, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71.
FLO has been the topic of several research reports. TheStreet lowered shares of Flowers Foods from a “b-” rating to a “c” rating in a report on Thursday, November 9th. Pivotal Research reiterated a “buy” rating and set a $26.00 price objective (up previously from $23.00) on shares of Flowers Foods in a report on Friday, January 12th. Zacks Investment Research lowered shares of Flowers Foods from a “strong-buy” rating to a “hold” rating in a report on Friday, January 12th. SunTrust Banks reiterated a “hold” rating and set a $20.00 price objective on shares of Flowers Foods in a report on Friday, November 10th. Finally, BMO Capital Markets upped their price objective on shares of Flowers Foods from $19.00 to $20.00 and gave the company a “market perform” rating in a report on Wednesday, November 15th. Four equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $21.20.
In other news, CFO R Steve Kinsey sold 116,067 shares of the business’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $19.39, for a total transaction of $2,250,539.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brad K. Alexander sold 81,000 shares of the business’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $19.07, for a total transaction of $1,544,670.00. Following the sale, the insider now directly owns 245,412 shares of the company’s stock, valued at $4,680,006.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 448,016 shares of company stock valued at $8,588,807. 15.81% of the stock is currently owned by 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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