Pivotal Research Reiterates Buy Rating for Flowers Foods (FLO)
Pivotal Research reaffirmed their buy rating on shares of Flowers Foods (NYSE:FLO) in a report published on Friday morning. The firm currently has a $26.00 price objective on the stock, up from their prior price objective of $23.00.
A number of other equities analysts have also weighed in on the stock. BMO Capital Markets upped their price target on shares of Flowers Foods from $19.00 to $20.00 and gave the stock a market perform rating in a research report on Wednesday, November 15th. Zacks Investment Research upgraded shares of Flowers Foods from a hold rating to a buy rating and set a $21.00 target price for the company in a research report on Monday, November 13th. SunTrust Banks restated a hold rating and set a $20.00 target price on shares of Flowers Foods in a research report on Friday, November 10th. Finally, TheStreet lowered shares of Flowers Foods from a b- rating to a c rating in a research report on Thursday, November 9th. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Flowers Foods currently has an average rating of Buy and an average price target of $21.20.
Flowers Foods (NYSE:FLO) traded up $0.20 on Friday, hitting $18.69. 1,383,800 shares of the company’s stock were exchanged, compared to its average volume of 1,280,233. The company has a market capitalization of $3,917.60, a price-to-earnings ratio of 46.73, a P/E/G ratio of 3.16 and a beta of 1.04. Flowers Foods has a fifty-two week low of $16.80 and a fifty-two week high of $21.00. The company has a current ratio of 1.28, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71.
Flowers Foods (NYSE:FLO) last posted its quarterly earnings results on Wednesday, November 8th. The company reported $0.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.03. The business had revenue of $932.80 million during the quarter, compared to analyst estimates of $915.55 million. Flowers Foods had a net margin of 2.16% and a return on equity of 15.16%. The company’s revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.21 earnings per share. equities research analysts expect that Flowers Foods will post 0.86 EPS for the current year.
In related news, CEO Allen L. Shiver sold 177,081 shares of the company’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $19.00, for a total transaction of $3,364,539.00. Following the completion of the transaction, the chief executive officer now owns 978,353 shares in the company, valued at $18,588,707. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO R Steve Kinsey sold 116,067 shares of the company’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $19.39, for a total transaction of $2,250,539.13. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 448,016 shares of company stock valued at $8,588,807. 15.81% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Flowers Foods by 10.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,710 shares of the company’s stock valued at $116,000 after purchasing an additional 629 shares during the last quarter. Ffcm LLC lifted its position in Flowers Foods by 1,298.6% during the third quarter. Ffcm LLC now owns 6,965 shares of the company’s stock valued at $131,000 after purchasing an additional 6,467 shares during the last quarter. BB&T Securities LLC bought a new position in Flowers Foods during the third quarter valued at $192,000. Round Table Services LLC bought a new position in Flowers Foods during the third quarter valued at $208,000. Finally, Archford Capital Strategies LLC lifted its position in Flowers Foods by 71,581.3% during the second quarter. Archford Capital Strategies LLC now owns 11,469 shares of the company’s stock valued at $628,000 after purchasing an additional 11,453 shares during the last quarter. Institutional investors and hedge funds own 66.38% of the company’s stock.
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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