Flowers Foods (FLO) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research cut shares of Flowers Foods (NYSE:FLO) from a buy rating to a hold rating in a research report report published on Wednesday.

According to Zacks, “Flowers Foods is one of the largest producers of packaged bakery foods in the United States. The company operates highly efficient bakeries that produce a wide range of bakery food for retail and foodservice customers in the U.S. The company maintains some of the most efficient and technologically advanced bakeries in the country and has a team of outstanding employees and associates. Each bakery operates as a separate subsidiary of the company and has its own president, human resources director, and controller. “

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Several other research firms also recently issued reports on FLO. Deutsche Bank set a $24.00 price target on Flowers Foods and gave the stock a hold rating in a research note on Tuesday. Hilliard Lyons began coverage on Flowers Foods in a research note on Tuesday, April 3rd. They set a buy rating and a $25.00 price target for the company. KeyCorp reaffirmed a buy rating on shares of Flowers Foods in a research note on Wednesday, March 28th. TheStreet raised Flowers Foods from a c+ rating to a b rating in a research note on Wednesday, February 7th. Finally, Stephens reaffirmed a hold rating and set a $20.00 price target on shares of Flowers Foods in a research note on Friday, February 9th. Six equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Flowers Foods currently has an average rating of Buy and a consensus target price of $22.33.

Flowers Foods stock opened at $22.52 on Wednesday. Flowers Foods has a one year low of $16.80 and a one year high of $22.82. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.29 and a quick ratio of 1.01. The firm has a market capitalization of $4,778.72, a price-to-earnings ratio of 25.49, a price-to-earnings-growth ratio of 3.44 and a beta of 0.67.

Flowers Foods (NYSE:FLO) last released its earnings results on Wednesday, February 7th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. Flowers Foods had a return on equity of 15.17% and a net margin of 3.83%. The company had revenue of $873.60 million during the quarter, compared to the consensus estimate of $860.34 million. During the same quarter last year, the company earned $0.16 earnings per share. Flowers Foods’s quarterly revenue was up .6% compared to the same quarter last year. analysts predict that Flowers Foods will post 1.08 earnings per share for the current year.

In other news, insider David M. Roach sold 10,500 shares of Flowers Foods stock in a transaction on Tuesday, March 27th. The stock was sold at an average price of $21.11, for a total transaction of $221,655.00. Following the completion of the transaction, the insider now owns 67,801 shares of the company’s stock, valued at approximately $1,431,279.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 15.20% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its position in Flowers Foods by 2.9% during the 4th quarter. BlackRock Inc. now owns 14,983,444 shares of the company’s stock worth $289,330,000 after purchasing an additional 416,393 shares in the last quarter. Koch Industries Inc. increased its position in Flowers Foods by 143.3% during the 4th quarter. Koch Industries Inc. now owns 44,200 shares of the company’s stock worth $854,000 after purchasing an additional 26,030 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Flowers Foods by 48.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,976 shares of the company’s stock worth $193,000 after purchasing an additional 3,266 shares in the last quarter. Deprince Race & Zollo Inc. increased its position in Flowers Foods by 9.4% during the 4th quarter. Deprince Race & Zollo Inc. now owns 2,090,530 shares of the company’s stock worth $40,368,000 after purchasing an additional 180,214 shares in the last quarter. Finally, Legal & General Group Plc increased its position in Flowers Foods by 7.5% during the 3rd quarter. Legal & General Group Plc now owns 242,520 shares of the company’s stock worth $4,562,000 after purchasing an additional 16,816 shares in the last quarter. Hedge funds and other institutional investors own 62.24% of the company’s stock.

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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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Analyst Recommendations for Flowers Foods (NYSE:FLO)

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