Nationwide Fund Advisors Raises Stake in Flowers Foods Inc. (FLO)
Nationwide Fund Advisors boosted its stake in Flowers Foods Inc. (NYSE:FLO) by 61.4% during the second quarter, Holdings Channel reports. The fund owned 497,091 shares of the company’s stock after buying an additional 189,199 shares during the period. Nationwide Fund Advisors owned about 0.23% of Flowers Foods worth $9,320,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. purchased a new stake in Flowers Foods during the second quarter valued at $122,000. Advisors Asset Management Inc. boosted its stake in Flowers Foods by 18.9% in the second quarter. Advisors Asset Management Inc. now owns 7,524 shares of the company’s stock valued at $141,000 after buying an additional 1,194 shares during the last quarter. Invictus RG boosted its stake in Flowers Foods by 57.3% in the first quarter. Invictus RG now owns 7,734 shares of the company’s stock valued at $143,000 after buying an additional 2,817 shares during the last quarter. IFP Advisors Inc boosted its stake in Flowers Foods by 4.2% in the first quarter. IFP Advisors Inc now owns 10,252 shares of the company’s stock valued at $189,000 after buying an additional 409 shares during the last quarter. Finally, Breton Hill Capital Ltd. purchased a new stake in Flowers Foods during the second quarter valued at $199,000. 69.13% of the stock is owned by institutional investors and hedge funds.
Shares of Flowers Foods Inc. (NYSE:FLO) traded up 0.811% during trading on Monday, hitting $15.545. The stock had a trading volume of 1,821,223 shares. Flowers Foods Inc. has a 1-year low of $14.35 and a 1-year high of $27.31. The firm’s 50 day moving average is $16.02 and its 200 day moving average is $17.89. The company has a market cap of $3.22 billion, a PE ratio of 17.685 and a beta of 0.68.
Flowers Foods (NYSE:FLO) last released its earnings results on Wednesday, August 10th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.26. The company earned $935 million during the quarter, compared to analyst estimates of $948.98 million. Flowers Foods had a return on equity of 16.39% and a net margin of 4.80%. Flowers Foods’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.25 earnings per share. Equities research analysts anticipate that Flowers Foods Inc. will post $0.91 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, September 2nd were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 4.15%. The ex-dividend date was Wednesday, August 31st. Flowers Foods’s dividend payout ratio is presently 72.73%.
Several analysts recently weighed in on FLO shares. Jefferies Group dropped their price target on Flowers Foods from $23.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, August 11th. TheStreet cut Flowers Foods from a “buy” rating to a “hold” rating in a report on Monday, August 22nd. Deutsche Bank AG reissued a “hold” rating and set a $19.00 price target on shares of Flowers Foods in a report on Saturday, August 13th. Zacks Investment Research raised Flowers Foods from a “sell” rating to a “hold” rating in a report on Monday, August 1st. Finally, KeyCorp started coverage on Flowers Foods in a report on Wednesday, May 25th. They set a “sector weight” rating for the company. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $18.00.
In other news, SVP Robert L. Benton, Jr. sold 12,065 shares of the company’s stock in a transaction that occurred on Thursday, June 30th. The stock was sold at an average price of $18.49, for a total value of $223,081.85. Following the completion of the transaction, the senior vice president now directly owns 65,610 shares of the company’s stock, valued at $1,213,128.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Amos R. Mcmullian bought 30,000 shares of Flowers Foods stock in a transaction dated Thursday, August 25th. The stock was acquired at an average cost of $14.99 per share, with a total value of $449,700.00. Following the completion of the acquisition, the chairman now owns 3,650,940 shares of the company’s stock, valued at $54,727,590.60. The disclosure for this purchase can be found here. 16.87% of the stock is owned by insiders.
About Flowers Foods
Flowers Foods, Inc is a producer and marketer of bakery products. The Company operates in two segments: direct-store-delivery segment (DSD Segment) and warehouse delivery segment (Warehouse Segment). The DSD segment’s production plant locations include Birmingham, Alabama; Opelika, Alabama; Tuscaloosa, Alabama; Goldsboro, North Carolina; Jamestown, North Carolina, and Oxford, Pennsylvania.
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