Rainier Group Investment Advisory LLC continued to hold its stake in Flowers Foods, Inc. (NYSE:FLO) during the 2nd quarter, according to its most recent filing with the SEC. The fund owned 16,875 shares of the company’s stock at the end of the 2nd quarter. Rainier Group Investment Advisory LLC’s holdings in Flowers Foods were worth $292,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. UBS Asset Management Americas Inc. boosted its stake in shares of Flowers Foods by 13.1% in the first quarter. UBS Asset Management Americas Inc. now owns 150,234 shares of the company’s stock valued at $2,916,000 after buying an additional 17,423 shares during the period. Karp Capital Management Corp bought a new stake in shares of Flowers Foods in the first quarter valued at approximately $745,000. Ameriprise Financial Inc. boosted its stake in shares of Flowers Foods by 2.6% in the first quarter. Ameriprise Financial Inc. now owns 501,370 shares of the company’s stock valued at $9,731,000 after buying an additional 12,875 shares during the period. Prudential Financial Inc. boosted its stake in shares of Flowers Foods by 186.5% in the first quarter. Prudential Financial Inc. now owns 302,816 shares of the company’s stock valued at $5,878,000 after buying an additional 197,120 shares during the period. Finally, Stifel Financial Corp boosted its stake in shares of Flowers Foods by 81.4% in the first quarter. Stifel Financial Corp now owns 22,094 shares of the company’s stock valued at $429,000 after buying an additional 9,912 shares during the period. Institutional investors own 64.66% of the company’s stock.
Several brokerages recently issued reports on FLO. BidaskClub cut Flowers Foods from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Zacks Investment Research cut Flowers Foods from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. BMO Capital Markets reiterated a “hold” rating and issued a $19.00 price target on shares of Flowers Foods in a research note on Thursday, July 20th. Finally, Jefferies Group LLC cut Flowers Foods from a “buy” rating to a “hold” rating and cut their price target for the company from $23.00 to $19.00 in a research note on Friday, July 28th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $19.67.
In other news, EVP Marta Jones Turner sold 37,062 shares of Flowers Foods stock in a transaction on Monday, August 21st. The shares were sold at an average price of $17.91, for a total transaction of $663,780.42. Following the completion of the sale, the executive vice president now directly owns 266,444 shares of the company’s stock, valued at approximately $4,772,012.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert L. Benton, Jr. sold 18,500 shares of Flowers Foods stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $18.83, for a total transaction of $348,355.00. The disclosure for this sale can be found here. Insiders have sold a total of 98,735 shares of company stock valued at $1,818,921 over the last ninety days. 15.81% of the stock is currently owned by insiders.
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Flowers Foods, Inc. (NYSE FLO) traded up 0.27% during midday trading on Friday, reaching $18.75. The company’s stock had a trading volume of 755,753 shares. The stock has a 50-day moving average price of $18.09 and a 200 day moving average price of $18.37. Flowers Foods, Inc. has a 12 month low of $14.74 and a 12 month high of $21.00. The company has a market cap of $3.93 billion, a PE ratio of 24.70 and a beta of 1.01.
Flowers Foods (NYSE:FLO) last posted its quarterly earnings data on Wednesday, August 9th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. Flowers Foods had a net margin of 4.06% and a return on equity of 14.79%. The company had revenue of $926.64 million during the quarter, compared to the consensus estimate of $931.26 million. During the same period in the previous year, the firm posted $0.26 EPS. The firm’s revenue was down .9% compared to the same quarter last year. Analysts expect that Flowers Foods, Inc. will post $0.85 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date was Wednesday, August 30th. Flowers Foods’s dividend payout ratio is currently 90.67%.
Flowers Foods Company 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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