Algert Global LLC Purchases 44,040 Shares of Flowers Foods, Inc. $FLO

Key Points

• Algert Global LLC increased its stake in Flowers Foods, Inc. by 16.5% during Q1, purchasing an additional 44,040 shares, bringing its total to 311,272 shares valued at approximately $5.9 million.
• Flowers Foods announced a quarterly dividend increase to $0.2475 per share, resulting in an annualized yield of 6.3% as it improves from its previous quarterly dividend of $0.24.
• In recent analyst reports, Jefferies Financial Group and Wall Street Zen have both dropped their price target for Flowers Foods shares, setting it at $16.00 and issuing a "hold" rating.

Algert Global LLC raised its position in shares of Flowers Foods, Inc. (NYSE:FLO - Free Report) by 16.5% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 311,272 shares of the company's stock after purchasing an additional 44,040 shares during the quarter. Algert Global LLC owned 0.15% of Flowers Foods worth $5,917,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Canada Pension Plan Investment Board bought a new stake in Flowers Foods during the 4th quarter valued at about $29,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Flowers Foods during the 4th quarter valued at about $30,000. MassMutual Private Wealth & Trust FSB increased its stake in Flowers Foods by 617.3% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,700 shares of the company's stock valued at $32,000 after purchasing an additional 1,463 shares in the last quarter. UMB Bank n.a. boosted its holdings in shares of Flowers Foods by 2,191.6% during the 1st quarter. UMB Bank n.a. now owns 2,177 shares of the company's stock valued at $41,000 after acquiring an additional 2,082 shares during the last quarter. Finally, Allworth Financial LP boosted its holdings in shares of Flowers Foods by 904.8% during the 1st quarter. Allworth Financial LP now owns 2,502 shares of the company's stock valued at $45,000 after acquiring an additional 2,253 shares during the last quarter. 75.45% of the stock is currently owned by institutional investors.

Flowers Foods Stock Performance

Shares of NYSE FLO opened at $15.72 on Monday. 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 market cap of $3.32 billion, a PE ratio of 15.12 and a beta of 0.32. The firm's 50-day moving average price is $16.05 and its 200-day moving average price is $17.42. Flowers Foods, Inc. has a 52-week low of $15.27 and a 52-week high of $23.87.

Flowers Foods (NYSE:FLO - Get Free Report) last posted its quarterly earnings data on Friday, August 15th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.01. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.27 billion. Flowers Foods had a net margin of 4.30% and a return on equity of 17.90%. The firm's revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.36 earnings per share. As a group, analysts anticipate that Flowers Foods, Inc. will post 1.18 EPS for the current year.

Flowers Foods Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 19th. Investors of record on Thursday, June 5th were issued a $0.2475 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This is a positive change from Flowers Foods's previous quarterly dividend of $0.24. This represents a $0.99 dividend on an annualized basis and a dividend yield of 6.3%. Flowers Foods's payout ratio is 95.19%.

Insider Buying and Selling

In other Flowers Foods news, Director Thomas Caldecot Chubb III acquired 3,000 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were bought at an average price of $16.88 per share, with a total value of $50,640.00. Following the completion of the acquisition, the director owned 45,861 shares in the company, valued at $774,133.68. This represents a 7.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William Jameson Mcfadden acquired 3,000 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was acquired at an average cost of $16.92 per share, for a total transaction of $50,760.00. Following the acquisition, the director owned 532,476 shares of the company's stock, valued at $9,009,493.92. The trade was a 0.57% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 12,000 shares of company stock valued at $202,440. 11.57% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Jefferies Financial Group dropped their price target on shares of Flowers Foods from $20.00 to $16.00 and set a "hold" rating on the stock in a report on Friday, May 16th. Wall Street Zen downgraded shares of Flowers Foods from a "buy" rating to a "hold" rating in a report on Monday, May 19th.

Flowers Foods 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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