Kayne Anderson Rudnick Investment Management LLC Sells 63,830 Shares of Flowers Foods, Inc. (NYSE:FLO)

Kayne Anderson Rudnick Investment Management LLC cut its stake in shares of Flowers Foods, Inc. (NYSE:FLO - Free Report) by 14.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 384,770 shares of the company's stock after selling 63,830 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned approximately 0.18% of Flowers Foods worth $7,949,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Canada Pension Plan Investment Board purchased a new stake in Flowers Foods during the fourth quarter valued at about $29,000. Brooklyn Investment Group lifted its stake in Flowers Foods by 171.8% during the fourth quarter. Brooklyn Investment Group now owns 2,623 shares of the company's stock valued at $54,000 after buying an additional 1,658 shares in the last quarter. Blue Trust Inc. lifted its stake in Flowers Foods by 34.4% during the fourth quarter. Blue Trust Inc. now owns 2,713 shares of the company's stock valued at $56,000 after buying an additional 694 shares in the last quarter. GeoWealth Management LLC purchased a new stake in Flowers Foods during the fourth quarter valued at about $60,000. Finally, Quent Capital LLC lifted its stake in Flowers Foods by 104.2% during the fourth quarter. Quent Capital LLC now owns 3,049 shares of the company's stock valued at $63,000 after buying an additional 1,556 shares in the last quarter. 75.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Truist Financial dropped their target price on Flowers Foods from $23.00 to $20.00 and set a "hold" rating on the stock in a report on Monday, February 10th. DA Davidson dropped their target price on Flowers Foods from $24.00 to $21.00 and set a "neutral" rating on the stock in a report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $21.00.

Flowers Foods Stock Down 0.9 %

NYSE:FLO traded down $0.16 during mid-day trading on Friday, reaching $17.83. The stock had a trading volume of 1,307,309 shares, compared to its average volume of 1,521,837. The business's 50 day moving average is $18.58 and its 200 day moving average is $20.15. Flowers Foods, Inc. has a fifty-two week low of $17.33 and a fifty-two week high of $26.12. The stock has a market cap of $3.76 billion, a P/E ratio of 15.24, a PEG ratio of 8.72 and a beta of 0.40. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.20 and a quick ratio of 0.95.

Flowers Foods (NYSE:FLO - Get Free Report) last released its quarterly earnings data on Friday, February 7th. The company reported $0.22 EPS for the quarter, topping analysts' consensus estimates of $0.21 by $0.01. Flowers Foods had a return on equity of 19.48% and a net margin of 4.86%. During the same period in the prior year, the company earned $0.20 EPS. As a group, sell-side analysts predict that Flowers Foods, Inc. will post 1.18 earnings per share for the current year.

Flowers Foods Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a dividend of $0.24 per share. The ex-dividend date was Friday, February 28th. This represents a $0.96 dividend on an annualized basis and a yield of 5.38%. Flowers Foods's payout ratio is currently 82.05%.

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.