Denver Investment Advisors LLC Invests $11.94 Million in Flowers Foods, Inc. (FLO)
Denver Investment Advisors LLC acquired a new position in shares of Flowers Foods, Inc. (NYSE:FLO) during the second quarter, Holdings Channel reports. The fund acquired 689,659 shares of the company’s stock, valued at approximately $11,938,000.
Several other hedge funds have also bought and sold shares of FLO. BlackRock Inc. boosted its stake in Flowers Foods by 13,803.5% in the first quarter. BlackRock Inc. now owns 14,447,449 shares of the company’s stock worth $280,425,000 after buying an additional 14,343,537 shares during the period. Wellington Shields & Co. LLC boosted its stake in Flowers Foods by 4,668.7% in the first quarter. Wellington Shields & Co. LLC now owns 6,665,434 shares of the company’s stock worth $129,376,000 after buying an additional 6,525,659 shares during the period. Bank of New York Mellon Corp boosted its stake in Flowers Foods by 48.2% in the first quarter. Bank of New York Mellon Corp now owns 3,990,226 shares of the company’s stock worth $77,450,000 after buying an additional 1,297,541 shares during the period. Cornerstone Capital Management Holdings LLC. acquired a new stake in Flowers Foods during the first quarter worth approximately $15,972,000. Finally, Champlain Investment Partners LLC boosted its stake in Flowers Foods by 7.9% in the first quarter. Champlain Investment Partners LLC now owns 5,441,170 shares of the company’s stock worth $105,613,000 after buying an additional 400,290 shares during the period. Institutional investors and hedge funds own 67.47% of the company’s stock.
Shares of Flowers Foods, Inc. (FLO) opened at 17.80 on Wednesday. The stock has a market capitalization of $3.73 billion, a PE ratio of 23.45 and a beta of 0.97. The company’s 50 day moving average price is $17.54 and its 200 day moving average price is $18.76. Flowers Foods, Inc. has a 12 month low of $14.51 and a 12 month high of $21.00.
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 the consensus estimate of $0.23 by $0.01. The firm had revenue of $926.64 million during the quarter, compared to analysts’ expectations of $931.26 million. Flowers Foods had a return on equity of 14.79% and a net margin of 4.06%. Flowers Foods’s revenue was down .9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.26 earnings per share. Equities analysts anticipate that Flowers Foods, Inc. will post $0.86 earnings per share for the current fiscal year.
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FLO has been the subject of a number of recent analyst reports. Zacks Investment Research cut Flowers Foods from a “hold” rating to a “sell” rating in a research report on Tuesday, April 18th. BidaskClub upgraded Flowers Foods from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. TheStreet upgraded Flowers Foods from a “c+” rating to a “b-” rating in a research report on Thursday, May 18th. Jefferies Group LLC cut Flowers Foods from a “buy” rating to a “hold” rating and dropped their price target for the stock from $23.00 to $19.00 in a research report on Friday, July 28th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $19.00 price target on shares of Flowers Foods in a research report on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. Flowers Foods presently has a consensus rating of “Hold” and a consensus target price of $19.67.
In other news, Chairman Amos R. Mcmullian acquired 20,000 shares of Flowers Foods stock in a transaction that occurred on Monday, August 14th. The stock was purchased at an average cost of $17.91 per share, with a total value of $358,200.00. Following the completion of the acquisition, the chairman now owns 3,643,717 shares in the company, valued at approximately $65,258,971.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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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