Marshwinds Advisory Co. Sells 2,647 Shares of Flowers Foods, Inc. (FLO)
Marshwinds Advisory Co. cut its position in shares of Flowers Foods, Inc. (NYSE:FLO) by 3.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 75,284 shares of the company’s stock after selling 2,647 shares during the period. Marshwinds Advisory Co.’s holdings in Flowers Foods were worth $1,454,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Arcus Capital Partners LLC boosted its stake in shares of Flowers Foods by 1.0% during the 2nd quarter. Arcus Capital Partners LLC now owns 60,141 shares of the company’s stock worth $1,041,000 after purchasing an additional 575 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Flowers Foods by 10.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,710 shares of the company’s stock worth $116,000 after purchasing an additional 629 shares during the period. State of Wisconsin Investment Board boosted its stake in shares of Flowers Foods by 2.1% during the 2nd quarter. State of Wisconsin Investment Board now owns 35,233 shares of the company’s stock worth $610,000 after purchasing an additional 710 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Flowers Foods by 1.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 66,543 shares of the company’s stock worth $1,152,000 after purchasing an additional 753 shares during the period. Finally, Mutual of America Capital Management LLC boosted its stake in shares of Flowers Foods by 0.5% during the 2nd quarter. Mutual of America Capital Management LLC now owns 149,240 shares of the company’s stock worth $2,583,000 after purchasing an additional 762 shares during the period. 66.39% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts recently commented on FLO shares. Zacks Investment Research raised shares of Flowers Foods from a “sell” rating to a “hold” rating in a research note on Tuesday, October 17th. TheStreet lowered shares of Flowers Foods from a “b-” rating to a “c” rating in a report on Thursday, November 9th. BMO Capital Markets reiterated a “hold” rating and set a $19.00 price objective on shares of Flowers Foods in a report on Thursday, November 2nd. SunTrust Banks reiterated a “hold” rating and set a $20.00 price objective on shares of Flowers Foods in a report on Friday, November 10th. Finally, Pivotal Research upgraded shares of Flowers Foods from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a report on Thursday, November 9th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $21.17.
In other Flowers Foods news, insider Tonja W. Taylor sold 4,960 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $19.57, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Allen L. Shiver sold 177,081 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $19.00, for a total transaction of $3,364,539.00. Following the sale, the chief executive officer now directly owns 978,353 shares in the company, valued at approximately $18,588,707. The disclosure for this sale can be found here. In the last ninety days, insiders sold 448,016 shares of company stock worth $8,588,807. Insiders own 15.81% of the company’s stock.
Flowers Foods, Inc. (NYSE:FLO) traded up $0.16 during trading hours on Monday, hitting $19.19. 224,835 shares of the stock traded hands, compared to its average volume of 1,002,000. Flowers Foods, Inc. has a twelve month low of $16.80 and a twelve month high of $21.00. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.28. The company has a market cap of $3,986.78, a price-to-earnings ratio of 47.96, a P/E/G ratio of 3.38 and a beta of 1.04.
Flowers Foods (NYSE:FLO) last posted its quarterly earnings results on Wednesday, November 8th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.20 by $0.03. Flowers Foods had a net margin of 2.16% and a return on equity of 15.16%. The business had revenue of $932.80 million during the quarter, compared to analyst estimates of $915.55 million. During the same quarter in the previous year, the business posted $0.21 EPS. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. sell-side analysts expect that Flowers Foods, Inc. will post 0.87 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date was Thursday, November 30th. Flowers Foods’s payout ratio is currently 170.00%.
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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