Schwab Charles Investment Management Inc. lifted its holdings in Flowers Foods, Inc. (NYSE:FLO) by 8.1% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,640,892 shares of the company’s stock after buying an additional 122,709 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.78% of Flowers Foods worth $30,866,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Wellington Shields Capital Management LLC raised its holdings in shares of Flowers Foods by 106.7% in the 3rd quarter. Wellington Shields Capital Management LLC now owns 14,794,716 shares of the company’s stock worth $278,289,000 after purchasing an additional 7,638,437 shares during the period. State Street Corp raised its holdings in Flowers Foods by 1.1% during the 2nd quarter. State Street Corp now owns 4,781,357 shares of the company’s stock valued at $82,762,000 after acquiring an additional 53,592 shares during the period. Bank of New York Mellon Corp raised its holdings in Flowers Foods by 5.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,216,755 shares of the company’s stock valued at $72,992,000 after acquiring an additional 226,529 shares during the period. Hamlin Capital Management LLC raised its holdings in Flowers Foods by 15.8% during the 3rd quarter. Hamlin Capital Management LLC now owns 3,860,784 shares of the company’s stock valued at $72,621,000 after acquiring an additional 525,394 shares during the period. Finally, Cramer Rosenthal Mcglynn LLC raised its holdings in Flowers Foods by 0.6% during the 2nd quarter. Cramer Rosenthal Mcglynn LLC now owns 2,160,859 shares of the company’s stock valued at $37,404,000 after acquiring an additional 12,272 shares during the period. Hedge funds and other institutional investors own 66.44% of the company’s stock.
A number of equities research analysts have issued reports on FLO shares. BidaskClub raised shares of Flowers Foods from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 23rd. Jefferies Group reissued a “hold” rating and set a $19.00 target price on shares of Flowers Foods in a report on Thursday, August 31st. Zacks Investment Research raised shares of Flowers Foods from a “sell” rating to a “hold” rating in a report on Tuesday, October 17th. BMO Capital Markets reissued a “hold” rating and set a $19.00 target price on shares of Flowers Foods in a report on Thursday, November 2nd. Finally, Pivotal Research raised shares of Flowers Foods from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a report on Thursday, November 9th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Flowers Foods currently has an average rating of “Buy” and a consensus price target of $21.43.
Flowers Foods, Inc. (FLO) traded up $0.06 on Monday, hitting $20.26. 1,034,600 shares of the stock were exchanged, compared to its average volume of 1,363,749. The stock has a market cap of $4,246.69, a price-to-earnings ratio of 23.02, a P/E/G ratio of 3.85 and a beta of 1.04. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.28 and a quick ratio of 1.01. Flowers Foods, Inc. has a 12-month low of $16.77 and a 12-month high of $21.00.
Flowers Foods (NYSE:FLO) last released its quarterly earnings results on Wednesday, November 8th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The firm had revenue of $932.80 million during the quarter, compared to analyst estimates of $915.55 million. Flowers Foods had a net margin of 2.16% and a return on equity of 15.16%. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.21 EPS. research analysts forecast that Flowers Foods, Inc. will post 0.86 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.36%. Flowers Foods’s dividend payout ratio (DPR) is currently 170.00%.
In other news, insider Stephen R. Avera sold 68,908 shares of the business’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $19.33, for a total transaction of $1,331,991.64. Following the completion of the transaction, the insider now directly owns 553,989 shares in the company, valued at approximately $10,708,607.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO R Steve Kinsey sold 116,067 shares of the business’s stock in a transaction on Wednesday, November 29th. The shares were 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. Insiders have sold a total of 509,689 shares of company stock valued at $9,743,948 over the last 90 days. Company insiders own 15.81% of the company’s stock.
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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