Brokerages expect Flowers Foods, Inc. (NYSE:FLO) to report $929.21 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Flowers Foods’ earnings. The highest sales estimate is $937.00 million and the lowest is $917.80 million. Flowers Foods posted sales of $932.82 million in the same quarter last year, which would indicate a negative year over year growth rate of 0.4%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, November 14th.
According to Zacks, analysts expect that Flowers Foods will report full-year sales of $3.95 billion for the current year, with estimates ranging from $3.93 billion to $3.97 billion. For the next fiscal year, analysts anticipate that the company will report sales of $4.02 billion, with estimates ranging from $3.93 billion to $4.08 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Flowers Foods.
Flowers Foods (NYSE:FLO) last posted its quarterly earnings data on Wednesday, August 8th. The company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). Flowers Foods had a return on equity of 15.85% and a net margin of 3.58%. The company had revenue of $941.30 million for the quarter, compared to analysts’ expectations of $936.16 million. During the same period in the prior year, the company posted $0.24 EPS. The firm’s revenue was up 1.6% compared to the same quarter last year.
FLO has been the topic of a number of recent research reports. Consumer Edge lowered Flowers Foods from an “overweight” rating to an “equal weight” rating in a research report on Monday, August 6th. Pivotal Research reaffirmed a “buy” rating and set a $24.00 price objective on shares of Flowers Foods in a research report on Thursday, August 9th. Zacks Investment Research raised Flowers Foods from a “sell” rating to a “hold” rating in a research report on Tuesday, June 12th. Vertical Group lowered Flowers Foods from a “buy” rating to a “hold” rating in a research report on Monday, July 9th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $19.00 price objective on shares of Flowers Foods in a research report on Friday, August 10th. Ten analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $21.80.
Large investors have recently bought and sold shares of the stock. Cullen Frost Bankers Inc. acquired a new position in Flowers Foods in the second quarter valued at $1,476,000. Segall Bryant & Hamill LLC boosted its stake in Flowers Foods by 270.9% in the second quarter. Segall Bryant & Hamill LLC now owns 1,332,489 shares of the company’s stock valued at $27,756,000 after acquiring an additional 973,260 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Flowers Foods by 12.4% in the second quarter. Russell Investments Group Ltd. now owns 737,044 shares of the company’s stock valued at $15,355,000 after acquiring an additional 81,129 shares in the last quarter. Strs Ohio acquired a new position in Flowers Foods in the second quarter valued at $360,000. Finally, Mackay Shields LLC acquired a new position in Flowers Foods in the second quarter valued at $1,794,000. 66.28% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Flowers Foods stock traded down $0.20 during trading hours on Monday, reaching $18.63. 34,708 shares of the company were exchanged, compared to its average volume of 993,025. Flowers Foods has a 1 year low of $17.71 and a 1 year high of $22.82. The company has a current ratio of 1.39, a quick ratio of 1.11 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $3.94 billion, a P/E ratio of 21.11, a P/E/G ratio of 2.06 and a beta of 0.53.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 14th. Investors of record on Friday, August 31st were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.86%. The ex-dividend date was Thursday, August 30th. Flowers Foods’s dividend payout ratio (DPR) is presently 80.90%.
Flowers Foods Company 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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