Quattro Financial Advisors LLC acquired a new position in shares of Flowers Foods, Inc. (NYSE:FLO) in the 1st quarter, HoldingsChannel reports. The institutional investor acquired 6,554 shares of the company’s stock, valued at approximately $146,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of FLO. BlackRock Inc. grew its holdings in Flowers Foods by 4.0% in the first quarter. BlackRock Inc. now owns 15,585,781 shares of the company’s stock worth $340,704,000 after purchasing an additional 602,337 shares during the period. Wellington Shields & Co. LLC grew its holdings in Flowers Foods by 4,675.7% in the first quarter. Wellington Shields & Co. LLC now owns 6,678,245 shares of the company’s stock worth $145,986,000 after purchasing an additional 6,538,406 shares during the period. Champlain Investment Partners LLC grew its holdings in Flowers Foods by 1.5% in the fourth quarter. Champlain Investment Partners LLC now owns 6,054,595 shares of the company’s stock worth $116,914,000 after purchasing an additional 87,200 shares during the period. Southeast Asset Advisors Inc. grew its holdings in Flowers Foods by 0.7% in the first quarter. Southeast Asset Advisors Inc. now owns 2,117,839 shares of the company’s stock worth $46,296,000 after purchasing an additional 15,633 shares during the period. Finally, Schwab Charles Investment Management Inc. lifted its stake in shares of Flowers Foods by 14.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 1,940,432 shares of the company’s stock valued at $42,418,000 after buying an additional 246,581 shares in the last quarter. Institutional investors own 66.43% of the company’s stock.
FLO has been the topic of a number of recent research reports. Zacks Investment Research raised shares of 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 Monday, February 19th. Hilliard Lyons initiated coverage on shares of Flowers Foods in a research note on Tuesday, April 3rd. They issued a “buy” rating and a $25.00 price objective on the stock. KeyCorp reaffirmed a “buy” rating on shares of Flowers Foods in a research note on Wednesday, March 28th. ValuEngine raised shares of Flowers Foods from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $19.00 price objective on shares of Flowers Foods in a research note on Thursday, May 17th. Eight investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $22.00.
Flowers Foods (NYSE:FLO) last released its quarterly earnings results on Wednesday, May 16th. The company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.01). Flowers Foods had a net margin of 3.58% and a return on equity of 15.87%. The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the previous year, the business earned $0.25 earnings per share. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. equities research analysts expect that Flowers Foods, Inc. will post 1.06 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 21st. Investors of record on Thursday, June 7th will be given a dividend of $0.18 per share. This is a positive change from Flowers Foods’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date of this dividend is Wednesday, June 6th. Flowers Foods’s dividend payout ratio (DPR) is presently 80.90%.
In related news, insider David M. Roach sold 10,500 shares of the firm’s stock in a transaction dated Tuesday, March 27th. The shares were sold at an average price of $21.11, for a total transaction of $221,655.00. Following the transaction, the insider now directly owns 67,801 shares of the company’s stock, valued at $1,431,279.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 15.20% of the stock is owned by company insiders.
About Flowers Foods
Flowers Foods, Inc produces and markets bakery products in the United States. It operates through two segments, Direct-Store-Delivery (DSD) and Warehouse Delivery. The DSD segment produces and markets fresh breads, buns, rolls, tortillas, and snack cakes. This segment offers its products primarily under the Nature's Own, Wonder, Cobblestone Bread Company, Tastykake, and Dave's Killer Bread brand names.
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