Flowers Foods, Inc. (NYSE:FLO) was up 1.4% on Friday . The company traded as high as $20.36 and last traded at $20.23. Approximately 1,253,614 shares traded hands during trading, a decline of 2% from the average daily volume of 1,276,790 shares. The stock had previously closed at $19.96.
A number of equities research analysts have recently weighed in on FLO shares. Zacks Investment Research raised shares of Flowers Foods from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a report on Monday, November 13th. BMO Capital Markets boosted 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. TheStreet lowered shares of Flowers Foods from a “b-” rating to a “c” rating in a report on Thursday, November 9th. Pivotal Research reissued a “buy” rating and set a $26.00 price objective (up from $23.00) on shares of Flowers Foods in a report on Friday, January 12th. Finally, SunTrust Banks reaffirmed a “hold” rating and issued a $20.00 price target on shares of Flowers Foods in a report on Friday, November 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $21.00.
The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.01 and a current ratio of 1.27. The stock has a market cap of $4,360.00, a price-to-earnings ratio of 28.69, a P/E/G ratio of 3.56 and a beta of 0.91.
In other Flowers Foods news, insider Tonja W. Taylor sold 4,960 shares of the company’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $19.57, for a total value of $97,067.20. Following the sale, the insider now directly owns 22,055 shares of the company’s stock, valued at $431,616.35. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Allen L. Shiver sold 177,081 shares of the company’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $19.00, for a total transaction 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. Over the last ninety days, insiders sold 448,016 shares of company stock worth $8,588,807. 15.81% of the stock is owned by corporate insiders.
Several institutional investors have recently modified their holdings of FLO. Wellington Shields Capital Management LLC raised its position in shares of Flowers Foods by 106.7% in the third quarter. Wellington Shields Capital Management LLC now owns 14,794,716 shares of the company’s stock worth $278,289,000 after acquiring an additional 7,638,437 shares during the period. Hamlin Capital Management LLC raised its position in shares of Flowers Foods by 15.8% in the third quarter. Hamlin Capital Management LLC now owns 3,860,784 shares of the company’s stock worth $72,621,000 after acquiring an additional 525,394 shares during the period. Koch Industries Inc. acquired a new position in shares of Flowers Foods in the second quarter worth about $443,000. BlackRock Inc. raised its position in shares of Flowers Foods by 2.9% in the fourth quarter. BlackRock Inc. now owns 14,983,444 shares of the company’s stock worth $289,330,000 after acquiring an additional 416,393 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Flowers Foods by 20.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,054,115 shares of the company’s stock worth $35,558,000 after acquiring an additional 342,563 shares during the period. Institutional investors and hedge funds own 66.46% of the company’s stock.
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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