Nordea Investment Management AB grew its stake in Flowers Foods, Inc. (NYSE:FLO – Free Report) by 0.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 228,171 shares of the company’s stock after buying an additional 1,781 shares during the period. Nordea Investment Management AB owned approximately 0.11% of Flowers Foods worth $3,630,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. IFP Advisors Inc lifted its position in shares of Flowers Foods by 860.2% in the second quarter. IFP Advisors Inc now owns 1,978 shares of the company’s stock worth $32,000 after buying an additional 1,772 shares during the last quarter. Allworth Financial LP lifted its position in shares of Flowers Foods by 904.8% in the first quarter. Allworth Financial LP now owns 2,502 shares of the company’s stock worth $45,000 after buying an additional 2,253 shares during the last quarter. Capital Advisors Ltd. LLC lifted its position in shares of Flowers Foods by 278.8% in the second quarter. Capital Advisors Ltd. LLC now owns 2,917 shares of the company’s stock worth $47,000 after buying an additional 2,147 shares during the last quarter. UMB Bank n.a. lifted its position in shares of Flowers Foods by 54.2% in the second quarter. UMB Bank n.a. now owns 3,357 shares of the company’s stock worth $54,000 after buying an additional 1,180 shares during the last quarter. Finally, TD Private Client Wealth LLC increased its stake in shares of Flowers Foods by 63.1% in the first quarter. TD Private Client Wealth LLC now owns 3,739 shares of the company’s stock worth $71,000 after purchasing an additional 1,446 shares during the period. Institutional investors and hedge funds own 75.45% of the company’s stock.
Flowers Foods Stock Performance
Flowers Foods stock opened at $12.75 on Wednesday. The business has a 50 day moving average price of $13.95 and a two-hundred day moving average price of $15.78. The company has a quick ratio of 0.90, a current ratio of 1.26 and a debt-to-equity ratio of 1.23. The stock has a market cap of $2.69 billion, a price-to-earnings ratio of 12.26 and a beta of 0.27. Flowers Foods, Inc. has a 12 month low of $12.42 and a 12 month high of $23.04.
Flowers Foods Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, September 5th were issued a $0.2475 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $0.99 dividend on an annualized basis and a dividend yield of 7.8%. Flowers Foods’s dividend payout ratio is presently 95.19%.
Analyst Ratings Changes
Several equities analysts recently weighed in on the company. Weiss Ratings reissued a “sell (d+)” rating on shares of Flowers Foods in a research report on Wednesday, October 8th. Truist Financial cut their price objective on Flowers Foods from $20.00 to $15.00 and set a “hold” rating for the company in a research report on Monday, August 18th. Finally, DA Davidson reissued a “neutral” rating and set a $15.00 price objective on shares of Flowers Foods in a research report on Monday, August 18th. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $15.33.
Check Out Our Latest Analysis on Flowers Foods
Insider Buying and Selling
In other news, CEO Ryals Mcmullian sold 350,000 shares of the stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $12.82, for a total value of $4,487,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,231,380 shares of the company’s stock, valued at approximately $15,786,291.60. This represents a 22.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Cindy Cox sold 3,600 shares of the stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $15.00, for a total value of $54,000.00. Following the sale, the insider owned 16,994 shares in the company, valued at approximately $254,910. This trade represents a 17.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 11.57% of the company’s stock.
Flowers Foods Profile
Flowers Foods, Inc produces and markets packaged bakery food products in the United States. Its principal products include fresh breads, buns, rolls, snack items, bagels, English muffins, and tortillas, as well as frozen breads and rolls under the Nature's Own, Dave's Killer Bread, Wonder, Canyon Bakehouse, Mrs.
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