Traders Purchase Large Volume of Flowers Foods Put Options (FLO)

Flowers Foods, Inc. (NYSE:FLO) was the target of some unusual options trading activity on Monday. Stock investors bought 1,296 put options on the stock. This represents an increase of approximately 1,443% compared to the typical volume of 84 put options.

Several brokerages recently commented on FLO. Zacks Investment Research upgraded shares of Flowers Foods from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research report on Monday. TheStreet upgraded shares of Flowers Foods from a “c+” rating to a “b” rating in a research report on Wednesday, February 7th. Stephens restated a “hold” rating and issued a $20.00 price target on shares of Flowers Foods in a research report on Friday, February 9th. Pivotal Research reduced their price target on shares of Flowers Foods to $26.00 and set a “buy” rating for the company in a research report on Thursday, February 8th. Finally, BMO Capital Markets upped their price target on shares of Flowers Foods from $19.00 to $20.00 and gave the company a “market perform” rating in a research report on Wednesday, November 15th. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Flowers Foods has an average rating of “Buy” and an average price target of $21.33.

Shares of Flowers Foods (NYSE FLO) opened at $21.35 on Tuesday. Flowers Foods has a 12-month low of $16.80 and a 12-month high of $21.46. 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 stock has a market cap of $4,475.17, a P/E ratio of 23.99, a price-to-earnings-growth ratio of 3.27 and a beta of 0.91.

Flowers Foods (NYSE:FLO) last released its earnings results on Wednesday, February 7th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.03. Flowers Foods had a net margin of 3.83% and a return on equity of 15.17%. The company had revenue of $873.60 million during the quarter, compared to the consensus estimate of $860.34 million. During the same quarter in the prior year, the firm earned $0.16 EPS. The company’s revenue was up .6% compared to the same quarter last year. equities analysts expect that Flowers Foods will post 1.07 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 16th. Shareholders of record on Friday, March 2nd will be given a $0.17 dividend. The ex-dividend date of this dividend is Thursday, March 1st. This represents a $0.68 dividend on an annualized basis and a yield of 3.19%. Flowers Foods’s payout ratio is 95.77%.

In related news, insider Stephen R. Avera sold 68,908 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $19.33, for a total value of $1,331,991.64. Following the completion of the sale, the insider now owns 553,989 shares in the company, valued at approximately $10,708,607.37. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO R Steve Kinsey sold 116,067 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The shares were 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. 15.81% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new stake in Flowers Foods in the 4th quarter worth approximately $359,000. MetLife Investment Advisors LLC purchased a new stake in Flowers Foods in the 4th quarter worth approximately $2,254,000. Gotham Asset Management LLC lifted its position in Flowers Foods by 262.3% in the 4th quarter. Gotham Asset Management LLC now owns 544,437 shares of the company’s stock worth $10,513,000 after buying an additional 394,167 shares in the last quarter. Vident Investment Advisory LLC lifted its position in Flowers Foods by 101.4% in the 4th quarter. Vident Investment Advisory LLC now owns 39,323 shares of the company’s stock worth $759,000 after buying an additional 19,794 shares in the last quarter. Finally, LPL Financial LLC lifted its position in Flowers Foods by 177.1% in the 4th quarter. LPL Financial LLC now owns 37,216 shares of the company’s stock worth $719,000 after buying an additional 23,784 shares in the last quarter. Institutional investors own 63.34% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This piece of content was published by Week Herald and is the sole property of of Week Herald. If you are viewing this piece of content on another website, it was illegally copied and republished in violation of US and international copyright & trademark laws. The legal version of this piece of content can be viewed at https://weekherald.com/2018/02/20/traders-purchase-large-volume-of-flowers-foods-put-options-flo.html.

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.

Receive News & Ratings for Flowers Foods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flowers Foods and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply