Crawford Investment Counsel Inc. Raises Stake in Flowers Foods, Inc. (FLO)
Crawford Investment Counsel Inc. boosted its position in Flowers Foods, Inc. (NYSE:FLO) by 19.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 887,038 shares of the company’s stock after buying an additional 142,678 shares during the period. Crawford Investment Counsel Inc. owned 0.42% of Flowers Foods worth $15,355,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its position in Flowers Foods by 2.8% in the second quarter. Principal Financial Group Inc. now owns 775,084 shares of the company’s stock worth $13,417,000 after buying an additional 21,176 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Flowers Foods by 10.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,710 shares of the company’s stock worth $116,000 after buying an additional 629 shares during the period. Pacer Advisors Inc. increased its position in Flowers Foods by 12.0% in the second quarter. Pacer Advisors Inc. now owns 28,909 shares of the company’s stock worth $500,000 after buying an additional 3,087 shares during the period. Utah Retirement Systems increased its position in Flowers Foods by 2.5% in the second quarter. Utah Retirement Systems now owns 32,309 shares of the company’s stock worth $559,000 after buying an additional 800 shares during the period. Finally, Prudential Financial Inc. increased its position in Flowers Foods by 106.7% in the second quarter. Prudential Financial Inc. now owns 626,016 shares of the company’s stock worth $10,836,000 after buying an additional 323,200 shares during the period. Institutional investors own 64.66% of the company’s stock.
Shares of Flowers Foods, Inc. (NYSE:FLO) opened at 17.23 on Wednesday. Flowers Foods, Inc. has a one year low of $14.51 and a one year high of $21.00. The stock has a market capitalization of $3.61 billion, a P/E ratio of 22.70 and a beta of 0.97. The company’s 50 day moving average price is $17.65 and its 200 day moving average price is $18.65.
Flowers Foods (NYSE:FLO) last issued 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. Flowers Foods had a return on equity of 14.79% and a net margin of 4.06%. The company had revenue of $926.64 million during the quarter, compared to analysts’ expectations of $931.26 million. During the same quarter in the previous year, the company posted $0.26 earnings per share. The business’s revenue was down .9% on a year-over-year basis. On average, equities analysts expect that Flowers Foods, Inc. will post $0.85 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date of this dividend is Wednesday, August 30th. Flowers Foods’s dividend payout ratio is presently 90.67%.
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A number of research firms have recently commented on FLO. BidaskClub upgraded Flowers Foods from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 23rd. Zacks Investment Research downgraded Flowers Foods from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Jefferies Group LLC downgraded Flowers Foods from a “buy” rating to a “hold” rating and dropped their target price for the company from $23.00 to $19.00 in a report on Friday, July 28th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $19.00 target price on shares of Flowers Foods in a report on Thursday, July 20th. One analyst has rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $19.67.
In other news, EVP Marta Jones Turner sold 37,062 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $17.91, for a total transaction of $663,780.42. Following the completion of the sale, the executive vice president now owns 266,444 shares in the company, valued at $4,772,012.04. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Amos R. Mcmullian acquired 20,000 shares of Flowers Foods stock in a transaction dated Monday, August 14th. The shares were purchased at an average price of $17.91 per share, with a total value of $358,200.00. Following the acquisition, the chairman now owns 3,643,717 shares of the company’s stock, valued at $65,258,971.47. The disclosure for this purchase can be found here. Insiders own 15.81% of the company’s stock.
Flowers Foods Company Profile
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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