APG Asset Management N.V. lowered its holdings in shares of Flowers Foods, Inc. (NYSE:FLO) by 62.0% during the 4th quarter, Holdings Channel reports. The firm owned 53,700 shares of the company’s stock after selling 87,700 shares during the quarter. APG Asset Management N.V.’s holdings in Flowers Foods were worth $864,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the stock. Ffcm LLC boosted its position in Flowers Foods by 1,298.6% during the 3rd quarter. Ffcm LLC now owns 6,965 shares of the company’s stock valued at $131,000 after buying an additional 6,467 shares during the period. BB&T Securities LLC purchased a new stake in Flowers Foods during the 3rd quarter valued at $192,000. Fox Run Management L.L.C. purchased a new stake in Flowers Foods during the 4th quarter valued at $195,000. Round Table Services LLC purchased a new stake in Flowers Foods during the 3rd quarter valued at $208,000. Finally, Honkamp Krueger Financial Services Inc. purchased a new stake in Flowers Foods during the 3rd quarter valued at $293,000. 66.46% of the stock is currently owned by institutional investors.
In other news, insider Brad K. Alexander sold 81,000 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $19.07, for a total value of $1,544,670.00. Following the completion of the sale, the insider now directly owns 245,412 shares of the company’s stock, valued at approximately $4,680,006.84. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO R Steve Kinsey sold 116,067 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $19.39, for a total transaction of $2,250,539.13. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 448,016 shares of company stock valued at $8,588,807. Corporate insiders own 15.81% of the company’s stock.
Flowers Foods (NYSE:FLO) last posted its earnings results on Wednesday, February 7th. The company reported $0.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.03. Flowers Foods had a net margin of 2.16% and a return on equity of 15.16%. The firm had revenue of $873.60 million during the quarter, compared to analysts’ expectations of $860.34 million. During the same period last year, the company posted $0.16 EPS. The company’s quarterly revenue was up .6% compared to the same quarter last year. research analysts predict that Flowers Foods, Inc. will post 0.86 earnings per share for the current year.
Several brokerages have weighed in on FLO. TheStreet raised shares of Flowers Foods from a “c+” rating to a “b” rating in a research report on Wednesday. Pivotal Research dropped their price target on shares of Flowers Foods to $26.00 and set a “buy” rating for the company in a research report on Thursday. Stephens reissued a “hold” rating and set a $20.00 price target on shares of Flowers Foods in a research report on Friday. BMO Capital Markets increased their price target on shares of Flowers Foods from $19.00 to $20.00 and gave the company a “market perform” rating in a research report on Wednesday, November 15th. Finally, Zacks Investment Research cut shares of Flowers Foods from a “hold” rating to a “sell” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $21.00.
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.
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