Retirement Systems of Alabama lifted its stake in Flowers Foods, Inc. (NYSE:FLO) by 46.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 348,700 shares of the company’s stock after buying an additional 111,336 shares during the period. Retirement Systems of Alabama owned approximately 0.17% of Flowers Foods worth $6,559,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of FLO. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Flowers Foods by 10.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,710 shares of the company’s stock valued at $116,000 after buying an additional 629 shares during the last quarter. Crescent Grove Advisors LLC purchased a new position in shares of Flowers Foods in the 2nd quarter valued at $173,000. AMG National Trust Bank purchased a new position in shares of Flowers Foods in the 2nd quarter valued at $196,000. Round Table Services LLC purchased a new position in shares of Flowers Foods in the 3rd quarter valued at $208,000. Finally, ARP Americas LLC purchased a new position in shares of Flowers Foods in the 2nd quarter valued at $213,000. 69.80% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently commented on FLO shares. BidaskClub raised shares of Flowers Foods from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Jefferies Group LLC downgraded shares of Flowers Foods from a “buy” rating to a “hold” rating and dropped their target price for the company from $23.00 to $19.00 in a research report on Friday, July 28th. Zacks Investment Research downgraded shares of Flowers Foods from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. BMO Capital Markets reaffirmed a “hold” rating and issued a $19.00 target price on shares of Flowers Foods in a research report on Thursday, November 2nd. Finally, Pivotal Research raised shares of Flowers Foods from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research report on Thursday, November 9th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Flowers Foods has an average rating of “Buy” and a consensus price target of $21.43.
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In other news, insider Robert L. Benton, Jr. sold 15,000 shares of the firm’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $18.87, for a total value of $283,050.00. Following the completion of the sale, the insider now owns 81,677 shares in the company, valued at approximately $1,541,244.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Allen L. Shiver sold 177,081 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 978,353 shares of the company’s stock, valued at approximately $18,588,707. The disclosure for this sale can be found here. Insiders have sold a total of 319,754 shares of company stock worth $6,064,350 over the last three months. 15.81% of the stock is currently owned by insiders.
Flowers Foods, Inc. (NYSE:FLO) opened at $19.78 on Monday. Flowers Foods, Inc. has a 52-week low of $15.27 and a 52-week 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 stock has a market cap of $4,146.08, a price-to-earnings ratio of 22.48, a price-to-earnings-growth ratio of 3.76 and a beta of 1.00.
Flowers Foods (NYSE:FLO) last issued its quarterly earnings data on Wednesday, November 8th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $932.80 million for the quarter, compared to the consensus estimate of $915.55 million. During the same period last year, the firm posted $0.21 EPS. Flowers Foods’s revenue for the quarter was up 1.5% on a year-over-year basis. equities analysts anticipate that Flowers Foods, Inc. will post 0.86 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend is Thursday, November 30th. Flowers Foods’s payout ratio is currently 170.00%.
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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