Flowers Foods, Inc. (NYSE:FLO) Sees Significant Decrease in Short Interest

Flowers Foods, Inc. (NYSE:FLO) saw a significant decrease in short interest during the month of July. As of July 31st, there was short interest totalling 6,434,700 shares, a decrease of 7.3% from the June 30th total of 6,942,100 shares. Based on an average trading volume of 1,120,000 shares, the days-to-cover ratio is presently 5.7 days. Approximately 3.5% of the shares of the company are sold short.

Several analysts have issued reports on FLO shares. DA Davidson started coverage on Flowers Foods in a report on Monday, August 5th. They set a “neutral” rating and a $24.00 price target for the company. ValuEngine lowered Flowers Foods from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $20.50.

A number of large investors have recently added to or reduced their stakes in FLO. BNP Paribas Arbitrage SA boosted its stake in shares of Flowers Foods by 22.3% in the first quarter. BNP Paribas Arbitrage SA now owns 13,278 shares of the company’s stock worth $283,000 after acquiring an additional 2,419 shares during the period. Neuberger Berman Group LLC boosted its stake in Flowers Foods by 2.6% during the first quarter. Neuberger Berman Group LLC now owns 1,426,676 shares of the company’s stock valued at $30,417,000 after buying an additional 36,740 shares during the last quarter. Blue Sky Asset Management LLC bought a new position in Flowers Foods during the first quarter valued at approximately $209,000. Victory Capital Management Inc. boosted its stake in Flowers Foods by 10.5% during the first quarter. Victory Capital Management Inc. now owns 2,872,668 shares of the company’s stock valued at $61,245,000 after buying an additional 273,093 shares during the last quarter. Finally, Simmons Bank bought a new position in Flowers Foods during the first quarter valued at approximately $201,000. 65.10% of the stock is owned by institutional investors and hedge funds.

NYSE:FLO traded up $0.14 during mid-day trading on Thursday, hitting $22.60. 1,189,486 shares of the company traded hands, compared to its average volume of 1,068,027. The stock’s fifty day moving average price is $23.44 and its 200-day moving average price is $21.97. Flowers Foods has a one year low of $17.78 and a one year high of $24.35. The company has a quick ratio of 0.90, a current ratio of 1.15 and a debt-to-equity ratio of 0.96. The firm has a market cap of $4.77 billion, a price-to-earnings ratio of 24.04 and a beta of 0.41.

Flowers Foods (NYSE:FLO) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.01). Flowers Foods had a net margin of 4.44% and a return on equity of 15.95%. The company had revenue of $975.76 million for the quarter, compared to the consensus estimate of $967.66 million. During the same period in the prior year, the firm posted $0.25 EPS. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. Equities analysts predict that Flowers Foods will post 0.97 EPS for the current year.

Flowers Foods Company Profile

Flowers Foods, Inc produces and markets bakery products in the United States. The company operates through two segments, Direct-Store-Delivery and Warehouse Delivery. The Direct-Store-Delivery segment produces and markets fresh breads, buns, rolls, tortillas, and snack cakes. This segment offers its products primarily under the Nature's Own, Dave's Killer Bread, Tastykake, Wonder, and Cobblestone Bread Company brand names.

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