Bank of New York Mellon Corp cut its holdings in Flowers Foods, Inc. (NYSE:FLO – Get Rating) by 0.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,738,379 shares of the company's stock after selling 15,438 shares during the period. Bank of New York Mellon Corp owned 1.29% of Flowers Foods worth $70,403,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. HWG Holdings LP acquired a new position in Flowers Foods in the fourth quarter valued at approximately $30,000. C M Bidwell & Associates Ltd. purchased a new stake in Flowers Foods in the fourth quarter valued at approximately $47,000. Selective Wealth Management Inc. purchased a new stake in Flowers Foods in the first quarter valued at approximately $52,000. Covestor Ltd purchased a new stake in Flowers Foods in the fourth quarter valued at approximately $89,000. Finally, Meeder Asset Management Inc. purchased a new stake in Flowers Foods in the first quarter valued at approximately $122,000. 77.15% of the stock is currently owned by institutional investors and hedge funds.
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Flowers Foods Stock Down 0.1 %
Flowers Foods stock opened at $27.28 on Friday. Flowers Foods, Inc. has a twelve month low of $22.78 and a twelve month high of $29.73. The stock's fifty day simple moving average is $27.32 and its 200-day simple moving average is $26.69. The company has a current ratio of 1.45, a quick ratio of 1.16 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $5.78 billion, a P/E ratio of 27.01 and a beta of 0.27.
Flowers Foods (NYSE:FLO – Get Rating) last posted its quarterly earnings data on Thursday, August 11th. The company reported $0.31 earnings per share for the quarter, topping analysts' consensus estimates of $0.27 by $0.04. Flowers Foods had a return on equity of 18.62% and a net
margin of 4.75%. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the prior year, the company earned $0.32 earnings per share. The company's revenue was up 11.0% on a year-over-year basis. As a group, equities analysts expect that Flowers Foods, Inc. will post 1.27 earnings per share for the current fiscal year.
Flowers Foods Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 16th. Stockholders of record on Friday, September 2nd will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend is Thursday, September 1st. Flowers Foods's dividend payout ratio is currently 87.13%.
Insider Activity at Flowers Foods
In related news, CEO Ryals Mcmullian sold 143,020 shares of the stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $27.97, for a total value of $4,000,269.40. Following the transaction, the chief executive officer now owns 1,781,580 shares of the company's stock, valued at $49,830,792.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Ryals Mcmullian sold 143,020 shares of the stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $27.97, for a total value of $4,000,269.40. Following the transaction, the chief executive officer now owns 1,781,580 shares of the company's stock, valued at $49,830,792.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas Caldecot Chubb III acquired 3,000 shares of the firm's stock in a transaction on Tuesday, August 23rd. The stock was bought at an average price of $27.50 per share, with a total value of $82,500.00. Following the purchase, the director now directly owns 23,051 shares of the company's stock, valued at $633,902.50. The disclosure for this purchase can be found here. 11.79% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
A number of brokerages have issued reports on FLO. StockNews.com raised Flowers Foods from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 20th. Deutsche Bank Aktiengesellschaft cut their target price on Flowers Foods from $27.00 to $26.00 in a research report on Monday, May 23rd.
About Flowers Foods
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Flowers Foods, Inc produces and markets packaged bakery products in the United States. It offers fresh breads, buns, rolls, snack cakes, and tortillas, as well as frozen breads and rolls under the Nature's Own, Dave's Killer Bread, Wonder, Canyon Bakehouse, Mrs. Freshley's, and Tastykake brand names.
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