Edgestream Partners L.P. boosted its position in Flowers Foods, Inc. (NYSE:FLO - Free Report) by 68.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 495,568 shares of the company's stock after purchasing an additional 201,635 shares during the quarter. Edgestream Partners L.P. owned about 0.23% of Flowers Foods worth $9,421,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board acquired a new position in Flowers Foods in the 4th quarter valued at about $29,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Flowers Foods during the 4th quarter valued at about $30,000. MassMutual Private Wealth & Trust FSB increased its stake in shares of 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 acquiring an additional 1,463 shares during the last quarter. UMB Bank n.a. increased its stake 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 increased its stake 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. Institutional investors and hedge funds own 75.45% of the company's stock.
Analysts Set New Price Targets
FLO has been the subject of a number of research analyst reports. Jefferies Financial Group dropped their price objective on shares of Flowers Foods from $20.00 to $16.00 and set a "hold" rating for the company in a research note on Friday, May 16th. Wall Street Zen downgraded shares of Flowers Foods from a "buy" rating to a "hold" rating in a research report on Monday, May 19th.
Read Our Latest Report on Flowers Foods
Flowers Foods Stock Down 0.4%
FLO opened at $15.76 on Monday. The firm has a 50 day moving average price of $16.54 and a 200 day moving average price of $18.09. The company has a market cap of $3.33 billion, a PE ratio of 14.59 and a beta of 0.33. Flowers Foods, Inc. has a 1 year low of $15.46 and a 1 year high of $23.87. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.89 and a current ratio of 1.26.
Flowers Foods (NYSE:FLO - Get Free Report) last posted its earnings results on Friday, May 16th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.03). The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.60 billion. Flowers Foods had a return on equity of 18.91% and a net margin of 4.49%. The firm's revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period last year, the company posted $0.38 EPS. Sell-side analysts expect that Flowers Foods, Inc. will post 1.18 earnings per share for the current year.
Flowers Foods Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, June 19th. Shareholders of record on Thursday, June 5th were issued a $0.2475 dividend. This represents a $0.99 dividend on an annualized basis and a yield of 6.28%. The ex-dividend date was Thursday, June 5th. This is a boost from Flowers Foods's previous quarterly dividend of $0.24. Flowers Foods's dividend payout ratio is currently 91.67%.
Insiders Place Their Bets
In other Flowers Foods news, Director George E. Deese bought 6,000 shares of Flowers Foods stock in a transaction dated Tuesday, May 27th. The stock was bought at an average cost of $16.84 per share, for a total transaction of $101,040.00. Following the purchase, the director owned 2,004,990 shares in the company, valued at $33,764,031.60. This represents a 0.30% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Thomas Caldecot Chubb III bought 3,000 shares of Flowers Foods stock in a transaction dated Tuesday, May 27th. The shares were acquired at an average price of $16.88 per share, with a total value of $50,640.00. Following the completion of the purchase, the director owned 45,861 shares in the company, valued at approximately $774,133.68. The trade was a 7.00% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 12,000 shares of company stock worth $202,440 in the last 90 days. 11.57% of the stock is owned by company insiders.
Flowers Foods Profile
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Free Report)
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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