Flowers Foods (NYSE:FLO) was upgraded by research analysts at TheStreet from a “c+” rating to a “b” rating in a research note issued on Wednesday.
FLO has been the topic of a number of other research reports. Zacks Investment Research lowered Flowers Foods from a “hold” rating to a “sell” rating in a research note on Thursday. Pivotal Research raised Flowers Foods from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research note on Thursday, November 9th. SunTrust Banks reaffirmed a “hold” rating and set a $20.00 price objective on shares of Flowers Foods in a research note on Friday, November 10th. BMO Capital Markets increased their price objective on Flowers Foods from $19.00 to $20.00 and gave the company a “market perform” rating in a research note on Wednesday, November 15th. Finally, Stephens reissued a “hold” rating and issued a $20.00 price target on shares of Flowers Foods in a research note on Friday. One investment analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $21.00.
Flowers Foods (NYSE:FLO) traded up $0.37 on Wednesday, hitting $20.33. The company had a trading volume of 965,236 shares, compared to its average volume of 1,273,606. The company has a current ratio of 1.28, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $4,180.00, a price-to-earnings ratio of 28.58, a P/E/G ratio of 3.38 and a beta of 0.91. Flowers Foods has a fifty-two week low of $16.80 and a fifty-two week high of $21.00.
In other news, CFO R Steve Kinsey sold 116,067 shares of Flowers Foods stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $19.39, for a total value of $2,250,539.13. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Allen L. Shiver sold 177,081 shares of Flowers Foods stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $19.00, for a total value of $3,364,539.00. Following the completion of the transaction, the chief executive officer now directly owns 978,353 shares in the company, valued at $18,588,707. The disclosure for this sale can be found here. Over the last three months, insiders sold 448,016 shares of company stock worth $8,588,807. 15.81% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Alliancebernstein L.P. raised its holdings in shares of Flowers Foods by 5.5% during the 2nd quarter. Alliancebernstein L.P. now owns 110,664 shares of the company’s stock valued at $1,916,000 after buying an additional 5,733 shares during the period. New York State Common Retirement Fund increased its holdings in Flowers Foods by 3.9% during the 2nd quarter. New York State Common Retirement Fund now owns 385,700 shares of the company’s stock worth $6,676,000 after purchasing an additional 14,499 shares during the last quarter. UBS Asset Management Americas Inc. increased its holdings in Flowers Foods by 10.4% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 165,906 shares of the company’s stock worth $2,872,000 after purchasing an additional 15,672 shares during the last quarter. Northern Trust Corp increased its holdings in Flowers Foods by 2.4% during the 2nd quarter. Northern Trust Corp now owns 1,644,927 shares of the company’s stock worth $28,473,000 after purchasing an additional 37,845 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Flowers Foods by 20.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,054,115 shares of the company’s stock worth $35,558,000 after purchasing an additional 342,563 shares during the last quarter. 66.46% of the stock is currently owned by institutional investors and hedge funds.
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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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