SG Americas Securities LLC lessened its holdings in shares of Flowers Foods, Inc. (NYSE:FLO) by 52.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 107,808 shares of the company’s stock after selling 118,559 shares during the period. SG Americas Securities LLC owned 0.05% of Flowers Foods worth $2,012,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Strs Ohio acquired a new stake in Flowers Foods during the 2nd quarter worth $360,000. Russell Investments Group Ltd. grew its holdings in shares of Flowers Foods by 12.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 737,044 shares of the company’s stock valued at $15,355,000 after buying an additional 81,129 shares during the period. Segall Bryant & Hamill LLC grew its holdings in shares of Flowers Foods by 270.9% in the 2nd quarter. Segall Bryant & Hamill LLC now owns 1,332,489 shares of the company’s stock valued at $27,756,000 after buying an additional 973,260 shares during the period. Bank of America Corp DE grew its holdings in shares of Flowers Foods by 4.8% in the 2nd quarter. Bank of America Corp DE now owns 1,067,161 shares of the company’s stock valued at $22,228,000 after buying an additional 49,192 shares during the period. Finally, Mackay Shields LLC acquired a new position in shares of Flowers Foods in the 2nd quarter valued at $1,794,000. 65.83% of the stock is owned by hedge funds and other institutional investors.
FLO has been the subject of several research analyst reports. Jefferies Financial Group reissued a “hold” rating and issued a $19.00 price target on shares of Flowers Foods in a report on Friday, August 10th. Zacks Investment Research reissued a “hold” rating on shares of Flowers Foods in a report on Tuesday, November 13th. Deutsche Bank set a $18.00 price target on shares of Flowers Foods and gave the company a “hold” rating in a report on Monday, November 12th. Pivotal Research reissued a “buy” rating and issued a $24.00 price target on shares of Flowers Foods in a report on Thursday, August 9th. Finally, Consumer Edge lowered shares of Flowers Foods from an “overweight” rating to an “equal weight” rating in a report on Monday, August 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. Flowers Foods currently has an average rating of “Hold” and a consensus target price of $20.50.
Flowers Foods (NYSE:FLO) last announced its earnings results on Wednesday, November 7th. The company reported $0.23 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.02). The company had revenue of $923.45 million during the quarter, compared to analyst estimates of $931.87 million. Flowers Foods had a return on equity of 15.61% and a net margin of 5.45%. Flowers Foods’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.23 earnings per share. Sell-side analysts expect that Flowers Foods, Inc. will post 0.93 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date is Thursday, November 29th. Flowers Foods’s payout ratio is presently 80.90%.
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Flowers Foods Profile
Flowers Foods, Inc produces and markets bakery products in the United States. It operates through two segments, Direct-Store-Delivery (DSD) and Warehouse Delivery. The DSD segment produces and markets fresh breads, buns, rolls, tortillas, and snack cakes. This segment offers its products primarily under the Nature's Own, Wonder, Cobblestone Bread Company, Tastykake, and Dave's Killer Bread brand names.
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