Man Group plc trimmed its holdings in Flowers Foods, Inc. (NYSE:FLO) by 8.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 757,678 shares of the company’s stock after selling 68,040 shares during the period. Man Group plc owned approximately 0.36% of Flowers Foods worth $17,525,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also modified their holdings of FLO. Nuveen Asset Management LLC purchased a new stake in shares of Flowers Foods during the second quarter worth $14,446,000. Squarepoint Ops LLC bought a new stake in shares of Flowers Foods during the 3rd quarter valued at $9,141,000. Wells Fargo & Company MN raised its stake in shares of Flowers Foods by 29.6% during the 2nd quarter. Wells Fargo & Company MN now owns 1,691,378 shares of the company’s stock valued at $39,359,000 after purchasing an additional 385,982 shares during the period. BlackRock Inc. lifted its holdings in Flowers Foods by 2.3% during the 2nd quarter. BlackRock Inc. now owns 16,893,384 shares of the company’s stock worth $393,109,000 after purchasing an additional 375,717 shares in the last quarter. Finally, Prudential Financial Inc. lifted its holdings in Flowers Foods by 236.4% during the 2nd quarter. Prudential Financial Inc. now owns 391,856 shares of the company’s stock worth $9,118,000 after purchasing an additional 275,360 shares in the last quarter. 64.92% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have weighed in on FLO. DA Davidson reduced their target price on Flowers Foods from $23.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, November 12th. Zacks Investment Research upgraded Flowers Foods from a “sell” rating to a “hold” rating and set a $24.00 price target on the stock in a research report on Thursday, September 19th. Finally, ValuEngine downgraded shares of Flowers Foods from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd.
Flowers Foods (NYSE:FLO) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.22 EPS for the quarter, meeting analysts’ consensus estimates of $0.22. The firm had revenue of $966.56 million during the quarter, compared to analyst estimates of $947.50 million. Flowers Foods had a net margin of 4.48% and a return on equity of 15.74%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.23 EPS. On average, research analysts anticipate that Flowers Foods, Inc. will post 0.96 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.53%. Flowers Foods’s dividend payout ratio (DPR) is presently 80.85%.
In other Flowers Foods news, CMO Debo Mukherjee acquired 1,650 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was bought at an average price of $21.35 per share, with a total value of $35,227.50. Following the completion of the purchase, the chief marketing officer now owns 3,200 shares of the company’s stock, valued at $68,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.17% of the stock is currently owned by company insiders.
Flowers Foods Company Profile
Flowers Foods, Inc produces and markets bakery products in the United States. The company operates through two segments, Direct-Store-Delivery and Warehouse Delivery. The Direct-Store-Delivery segment produces and markets fresh breads, buns, rolls, tortillas, and snack cakes. This segment offers its products primarily under the Nature's Own, Dave's Killer Bread, Tastykake, Wonder, and Cobblestone Bread Company brand names.
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