Shares of Flowers Foods, Inc. (NYSE:FLO) have earned an average recommendation of “Hold” from the eight brokerages that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and one has given a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $18.00.
Several brokerages recently issued reports on FLO. ValuEngine raised shares of Flowers Foods from a “hold” rating to a “buy” rating in a research note on Friday. Zacks Investment Research lowered shares of Flowers Foods from a “buy” rating to a “hold” rating in a research note on Wednesday, April 10th. Finally, Pivotal Research reissued a “sell” rating and set a $16.00 target price on shares of Flowers Foods in a research note on Thursday, February 7th.
NYSE FLO traded up $0.14 on Thursday, hitting $22.80. 1,816,918 shares of the company were exchanged, compared to its average volume of 896,928. The firm has a market cap of $4.82 billion, a PE ratio of 24.26 and a beta of 0.49. Flowers Foods has a 12 month low of $17.78 and a 12 month high of $23.18. The company has a quick ratio of 1.05, a current ratio of 1.17 and a debt-to-equity ratio of 1.02.
Flowers Foods (NYSE:FLO) last issued its earnings results on Wednesday, May 15th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.02. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.23 billion. Flowers Foods had a net margin of 4.28% and a return on equity of 15.85%. Flowers Foods’s revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.30 earnings per share. On average, equities analysts predict that Flowers Foods will post 1 earnings per share for the current year.
In related news, insider Debo Mukherjee bought 1,550 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average cost of $20.20 per share, with a total value of $31,310.00. Following the completion of the purchase, the insider now directly owns 1,550 shares in the company, valued at $31,310. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.17% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in FLO. Victory Capital Management Inc. increased its holdings in Flowers Foods by 284,317.4% during the fourth quarter. Victory Capital Management Inc. now owns 2,599,575 shares of the company’s stock worth $48,014,000 after buying an additional 2,598,661 shares during the last quarter. Norges Bank acquired a new position in shares of Flowers Foods during the fourth quarter worth about $40,532,000. Oregon Public Employees Retirement Fund lifted its stake in shares of Flowers Foods by 1,721.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,336,840 shares of the company’s stock worth $72,000 after purchasing an additional 1,263,444 shares in the last quarter. APG Asset Management N.V. lifted its stake in shares of Flowers Foods by 36.2% during the fourth quarter. APG Asset Management N.V. now owns 3,663,400 shares of the company’s stock worth $59,190,000 after purchasing an additional 972,700 shares in the last quarter. Finally, Morgan Stanley lifted its stake in shares of Flowers Foods by 165.5% during the third quarter. Morgan Stanley now owns 1,364,637 shares of the company’s stock worth $25,464,000 after purchasing an additional 850,620 shares in the last quarter. 66.99% of the stock is currently owned by hedge funds and other institutional investors.
About Flowers Foods
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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