Robert L. Benton, Jr. Sells 18,500 Shares of Flowers Foods, Inc. (FLO) Stock
Flowers Foods, Inc. (NYSE:FLO) insider Robert L. Benton, Jr. sold 18,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $18.83, for a total transaction of $348,355.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
Flowers Foods, Inc. (NYSE:FLO) opened at 18.70 on Friday. The firm has a market cap of $3.91 billion, a price-to-earnings ratio of 24.64 and a beta of 1.01. The company’s 50 day moving average is $18.06 and its 200-day moving average is $18.37. Flowers Foods, Inc. has a 1-year low of $14.60 and a 1-year high of $21.00.
Flowers Foods (NYSE:FLO) last posted its quarterly earnings results on Wednesday, August 9th. The company reported $0.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.01. The business had revenue of $926.64 million during the quarter, compared to the consensus estimate of $931.26 million. Flowers Foods had a net margin of 4.06% and a return on equity of 14.79%. Flowers Foods’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.26 earnings per share. On average, analysts predict that Flowers Foods, Inc. will post $0.85 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date of this dividend was Wednesday, August 30th. Flowers Foods’s dividend payout ratio (DPR) is 90.67%.
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Institutional investors and hedge funds have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Flowers Foods by 10.3% during 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 last quarter. Ledyard National Bank increased its stake in Flowers Foods by 6.0% in the second quarter. Ledyard National Bank now owns 8,810 shares of the company’s stock valued at $153,000 after purchasing an additional 500 shares in the last quarter. Crescent Grove Advisors LLC bought a new stake in Flowers Foods in the second quarter valued at approximately $173,000. AMG National Trust Bank bought a new stake in Flowers Foods in the second quarter valued at approximately $196,000. Finally, Archford Capital Strategies LLC increased its stake in Flowers Foods by 71,581.3% in 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 in the last quarter. 64.66% of the stock is owned by institutional investors and hedge funds.
A number of research analysts recently commented on the stock. Zacks Investment Research lowered shares of Flowers Foods from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. BidaskClub upgraded shares of Flowers Foods from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. Jefferies Group LLC lowered shares of Flowers Foods from a “buy” rating to a “hold” rating and lowered their price objective for the company from $23.00 to $19.00 in a research note on Friday, July 28th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $19.00 price objective on shares of Flowers Foods in a research note on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Flowers Foods currently has a consensus rating of “Hold” and a consensus target price of $19.67.
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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