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Signature Wealth Management Group Reduces Position in Flowers Foods, Inc. (NYSE:FLO)

Financial News Live ·  Sep 22, 2022 15:32

Signature Wealth Management Group decreased its holdings in shares of Flowers Foods, Inc. (NYSE:FLO – Get Rating) by 0.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 148,250 shares of the company's stock after selling 445 shares during the quarter. Flowers Foods comprises about 1.9% of Signature Wealth Management Group's portfolio, making the stock its 16th biggest holding. Signature Wealth Management Group owned approximately 0.07% of Flowers Foods worth $3,902,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of FLO. Wellington Shields Capital Management LLC grew its holdings in shares of Flowers Foods by 322.1% in the first quarter. Wellington Shields Capital Management LLC now owns 14,210,765 shares of the company's stock valued at $365,359,000 after purchasing an additional 10,843,744 shares during the period. Wellington Shields & Co. LLC grew its holdings in shares of Flowers Foods by 28,270.0% in the fourth quarter. Wellington Shields & Co. LLC now owns 6,553,181 shares of the company's stock valued at $180,016,000 after purchasing an additional 6,530,082 shares during the period. Acadian Asset Management LLC grew its holdings in shares of Flowers Foods by 36.5% in the first quarter. Acadian Asset Management LLC now owns 3,564,293 shares of the company's stock valued at $91,617,000 after purchasing an additional 954,044 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Flowers Foods by 55.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,422,117 shares of the company's stock valued at $39,066,000 after purchasing an additional 506,202 shares during the period. Finally, Qube Research & Technologies Ltd grew its holdings in shares of Flowers Foods by 1,778.3% in the first quarter. Qube Research & Technologies Ltd now owns 497,155 shares of the company's stock valued at $12,782,000 after purchasing an additional 470,686 shares during the period. Hedge funds and other institutional investors own 77.15% of the company's stock.

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Flowers Foods Trading Up 0.3 %

NYSE FLO traded up $0.07 during trading hours on Thursday, reaching $25.85. The company had a trading volume of 25,755 shares, compared to its average volume of 1,252,095. The stock has a 50-day moving average of $27.28 and a 200 day moving average of $26.54. Flowers Foods, Inc. has a 1-year low of $22.99 and a 1-year high of $29.73. 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 stock has a market capitalization of $5.48 billion, a P/E ratio of 25.77 and a beta of 0.29.

Flowers Foods (NYSE:FLO – Get Rating) last posted its earnings results on Thursday, August 11th. The company reported $0.31 EPS for the quarter, beating analysts' consensus estimates of $0.27 by $0.04. Flowers Foods had a net margin of 4.75% and a return on equity of 18.62%. The company had revenue of $1.13 billion for the quarter, compared to analysts' expectations of $1.12 billion. During the same quarter in the prior year, the company posted $0.32 earnings per share. Flowers Foods's revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, research analysts anticipate that Flowers Foods, Inc. will post 1.28 earnings per share for the current fiscal year.

Flowers Foods Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, September 2nd were given a dividend of $0.22 per share. The ex-dividend date was Thursday, September 1st. This represents a $0.88 annualized dividend and a dividend yield of 3.40%. Flowers Foods's dividend payout ratio is presently 87.13%.

Insider Transactions at Flowers Foods

In other news, CEO Ryals Mcmullian sold 143,020 shares of the stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $27.97, for a total transaction of $4,000,269.40. Following the sale, the chief executive officer now owns 1,781,580 shares of the company's stock, valued at $49,830,792.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Ryals Mcmullian sold 143,020 shares of the stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $27.97, for a total transaction of $4,000,269.40. Following the sale, the chief executive officer now owns 1,781,580 shares of the company's stock, valued at $49,830,792.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas Caldecot Chubb III purchased 3,000 shares of Flowers Foods stock in a transaction dated Tuesday, August 23rd. The shares were acquired at an average cost of $27.50 per share, for a total transaction of $82,500.00. Following the transaction, the director now directly owns 23,051 shares of the company's stock, valued at approximately $633,902.50. The disclosure for this purchase can be found here. Corporate insiders own 11.79% of the company's stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Flowers Foods from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 20th.

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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