DA Davidson Reiterates Neutral Rating for Flowers Foods (NYSE:FLO)

Key Points

• DA Davidson has reaffirmed a neutral rating for Flowers Foods (NYSE:FLO) with a target price of $15.00, indicating a potential downside of 4.79% from its previous close.
• Other firms, including Jefferies and Truist Financial, have also adjusted their ratings, setting a hold rating and lowering price targets for the stock.
• Flowers Foods recently reported earnings of $0.30 per share, beating estimates and showing a 1.5% revenue increase year-over-year, although it fell short of revenue expectations.

Flowers Foods (NYSE:FLO - Get Free Report)'s stock had its "neutral" rating reaffirmed by research analysts at DA Davidson in a research note issued to investors on Monday,Benzinga reports. They presently have a $15.00 target price on the stock. DA Davidson's price target indicates a potential downside of 4.79% from the stock's previous close.

A number of other research firms have also issued reports on FLO. Jefferies Financial Group dropped their price target on Flowers Foods from $20.00 to $16.00 and set a "hold" rating for the company in a research report on Friday, May 16th. Wall Street Zen cut shares of Flowers Foods from a "buy" rating to a "hold" rating in a research note on Monday, May 19th. Finally, Truist Financial decreased their price target on Flowers Foods from $20.00 to $15.00 and set a "hold" rating on the stock in a research note on Monday.

Flowers Foods Stock Up 0.4%

Shares of Flowers Foods stock traded up $0.06 on Monday, reaching $15.75. The stock had a trading volume of 978,949 shares, compared to its average volume of 2,434,743. The stock has a market capitalization of $3.33 billion, a P/E ratio of 15.13 and a beta of 0.32. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 1.26. The company has a 50 day moving average price of $16.05 and a 200 day moving average price of $17.42. Flowers Foods has a 1 year low of $15.27 and a 1 year high of $23.87.

Flowers Foods (NYSE:FLO - Get Free Report) last issued its earnings results on Friday, August 15th. The company reported $0.30 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.01. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.27 billion. Flowers Foods had a return on equity of 17.90% and a net margin of 4.30%. Flowers Foods's revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.36 earnings per share. As a group, equities research analysts forecast that Flowers Foods will post 1.18 EPS for the current year.

Insider Buying and Selling at Flowers Foods

In related news, Director Thomas Caldecot Chubb III acquired 3,000 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were acquired at an average cost of $16.88 per share, for a total transaction of $50,640.00. Following the acquisition, the director directly owned 45,861 shares in the company, valued at approximately $774,133.68. The trade was a 7.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director George E. Deese purchased 6,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were acquired at an average cost of $16.84 per share, with a total value of $101,040.00. Following the completion of the transaction, the director owned 2,004,990 shares in the company, valued at $33,764,031.60. This trade represents a 0.30% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 12,000 shares of company stock valued at $202,440. 11.57% of the stock is owned by corporate insiders.

Institutional Trading of Flowers Foods

Institutional investors have recently added to or reduced their stakes in the business. Elevation Point Wealth Partners LLC acquired a new position in Flowers Foods in the 2nd quarter worth about $28,000. Canada Pension Plan Investment Board acquired a new position in Flowers Foods in the 4th quarter worth about $29,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Flowers Foods in the 4th quarter worth about $30,000. Private Trust Co. NA increased its position in Flowers Foods by 103.8% in the 2nd quarter. Private Trust Co. NA now owns 1,932 shares of the company's stock worth $31,000 after purchasing an additional 984 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its position in Flowers Foods by 617.3% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,700 shares of the company's stock worth $32,000 after purchasing an additional 1,463 shares during the last quarter. 75.45% of the stock is owned by hedge funds and other institutional investors.

Flowers Foods Company Profile

Flowers Foods, Inc produces and markets packaged bakery food products in the United States. Its principal products include fresh breads, buns, rolls, snack items, bagels, English muffins, and tortillas, as well as frozen breads and rolls under the Nature's Own, Dave's Killer Bread, Wonder, Canyon Bakehouse, Mrs.

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