Flowers Foods (FLO) Hits New 1-Year High at $20.80
Flowers Foods, Inc. (NYSE:FLO)’s share price hit a new 52-week high on Wednesday . The company traded as high as $20.80 and last traded at $20.80, with a volume of 548246 shares traded. The stock had previously closed at $20.67.
Several brokerages have recently issued reports on FLO. Stephens reaffirmed a “hold” rating and set a $20.00 target price on shares of Flowers Foods in a research report on Friday, February 9th. Pivotal Research cut their target price on Flowers Foods to $26.00 and set a “buy” rating for the company in a research note on Thursday, February 8th. TheStreet upgraded Flowers Foods from a “c+” rating to a “b” rating in a research note on Wednesday, February 7th. Zacks Investment Research downgraded Flowers Foods from a “hold” rating to a “sell” rating in a research note on Thursday, February 8th. Finally, BMO Capital Markets restated a “hold” rating and issued a $19.00 target price on shares of Flowers Foods in a research note on Thursday, November 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Flowers Foods has an average rating of “Hold” and an average price target of $21.00.
The company has a debt-to-equity ratio of 0.67, a current ratio of 1.27 and a quick ratio of 1.01. The company has a market cap of $4,276.04, a P/E ratio of 29.25, a P/E/G ratio of 3.13 and a beta of 0.91.
In other news, CFO R Steve Kinsey sold 116,067 shares of Flowers Foods stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $19.39, for a total transaction of $2,250,539.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tonja W. Taylor sold 4,960 shares of Flowers Foods stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $19.57, for a total value of $97,067.20. Following the sale, the insider now owns 22,055 shares of the company’s stock, valued at approximately $431,616.35. The disclosure for this sale can be found here. In the last quarter, insiders have sold 189,935 shares of company stock valued at $3,679,598. Corporate insiders own 15.81% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Alliancebernstein L.P. raised its holdings in shares of Flowers Foods by 5.5% during the 2nd quarter. Alliancebernstein L.P. now owns 110,664 shares of the company’s stock valued at $1,916,000 after buying an additional 5,733 shares in the last quarter. Northern Trust Corp increased its stake in Flowers Foods by 2.4% in the 2nd quarter. Northern Trust Corp now owns 1,644,927 shares of the company’s stock worth $28,473,000 after purchasing an additional 37,845 shares during the period. Dimensional Fund Advisors LP increased its stake in Flowers Foods by 20.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,054,115 shares of the company’s stock worth $35,558,000 after purchasing an additional 342,563 shares during the period. Janus Henderson Group PLC purchased a new position in Flowers Foods in the 2nd quarter worth approximately $4,980,000. Finally, State Street Corp increased its stake in Flowers Foods by 1.1% in the 2nd quarter. State Street Corp now owns 4,781,357 shares of the company’s stock worth $82,762,000 after purchasing an additional 53,592 shares during the period. Hedge funds and other institutional investors own 66.44% of the company’s stock.
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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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