Capstone Asset Management Co. Lowers Stake in Flowers Foods, Inc. (FLO)
Capstone Asset Management Co. decreased its stake in Flowers Foods, Inc. (NYSE:FLO) by 4.0% during the second quarter, Holdings Channel reports. The institutional investor owned 19,931 shares of the company’s stock after selling 840 shares during the period. Capstone Asset Management Co.’s holdings in Flowers Foods were worth $345,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Bronfman E.L. Rothschild L.P. increased its position in shares of Flowers Foods by 58.8% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 5,195 shares of the company’s stock valued at $101,000 after buying an additional 1,923 shares in the last quarter. Ledyard National Bank bought a new position in shares of Flowers Foods during the first quarter valued at about $161,000. Edmp Inc. bought a new position in shares of Flowers Foods during the first quarter valued at about $194,000. Parametrica Management Ltd bought a new position in shares of Flowers Foods during the first quarter valued at about $229,000. Finally, Paloma Partners Management Co bought a new position in shares of Flowers Foods during the first quarter valued at about $229,000. Hedge funds and other institutional investors own 66.64% of the company’s stock.
Shares of Flowers Foods, Inc. (NYSE:FLO) traded down 2.00% during mid-day trading on Thursday, reaching $17.18. 1,328,320 shares of the company were exchanged. The stock has a market capitalization of $3.59 billion, a P/E ratio of 21.77 and a beta of 0.97. Flowers Foods, Inc. has a 12 month low of $14.35 and a 12 month high of $21.00. The firm has a 50-day moving average price of $17.52 and a 200 day moving average price of $18.84.
Flowers Foods (NYSE:FLO) last announced its quarterly earnings data on Wednesday, August 9th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. The firm had revenue of $926.64 million for the quarter, compared to the consensus estimate of $931.26 million. Flowers Foods had a net margin of 4.22% and a return on equity of 15.39%. The business’s revenue for the quarter was down .9% on a year-over-year basis. During the same period in the prior year, the company posted $0.26 earnings per share. Equities research analysts anticipate that Flowers Foods, Inc. will post $0.87 EPS for the current fiscal year.
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FLO has been the subject of several research reports. TheStreet upgraded Flowers Foods from a “c+” rating to a “b-” rating in a research report on Thursday, May 18th. BidaskClub raised shares of Flowers Foods from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. Jefferies Group LLC reissued a “buy” rating and set a $23.00 price objective on shares of Flowers Foods in a research note on Friday, May 26th. BMO Capital Markets reaffirmed a “hold” rating and set a $19.00 price target on shares of Flowers Foods in a research report on Thursday, July 20th. Finally, Zacks Investment Research raised shares of Flowers Foods from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $19.57.
About Flowers Foods
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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