Legal & General Group Plc Reduces Position in Flowers Foods, Inc. (NYSE:FLO)

Legal & General Group Plc lowered its position in Flowers Foods, Inc. (NYSE:FLO - Free Report) by 4.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 390,594 shares of the company's stock after selling 17,773 shares during the period. Legal & General Group Plc owned approximately 0.19% of Flowers Foods worth $8,070,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Blue Trust Inc. boosted its stake in Flowers Foods by 34.4% in the 4th quarter. Blue Trust Inc. now owns 2,713 shares of the company's stock worth $56,000 after purchasing an additional 694 shares in the last quarter. Exchange Traded Concepts LLC boosted its holdings in shares of Flowers Foods by 3.4% in the 4th quarter. Exchange Traded Concepts LLC now owns 32,191 shares of the company's stock valued at $665,000 after acquiring an additional 1,066 shares during the last quarter. LPL Financial LLC increased its stake in shares of Flowers Foods by 3.3% in the fourth quarter. LPL Financial LLC now owns 36,133 shares of the company's stock worth $747,000 after acquiring an additional 1,148 shares during the period. Xponance Inc. raised its holdings in shares of Flowers Foods by 6.0% during the fourth quarter. Xponance Inc. now owns 22,023 shares of the company's stock worth $455,000 after purchasing an additional 1,249 shares during the last quarter. Finally, Tidal Investments LLC lifted its position in Flowers Foods by 4.8% during the third quarter. Tidal Investments LLC now owns 27,266 shares of the company's stock valued at $629,000 after purchasing an additional 1,261 shares during the period. Institutional investors own 75.45% of the company's stock.

Wall Street Analysts Forecast Growth

FLO has been the subject of several analyst reports. Truist Financial decreased their price objective on Flowers Foods from $23.00 to $20.00 and set a "hold" rating for the company in a report on Monday, February 10th. DA Davidson cut their target price on shares of Flowers Foods from $24.00 to $21.00 and set a "neutral" rating for the company in a report on Monday, February 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Flowers Foods currently has a consensus rating of "Hold" and an average price target of $21.00.

Flowers Foods Trading Down 1.6 %

NYSE:FLO traded down $0.29 during trading hours on Thursday, hitting $18.01. The company had a trading volume of 240,126 shares, compared to its average volume of 1,517,128. The company has a market cap of $3.80 billion, a P/E ratio of 15.38, a P/E/G ratio of 8.72 and a beta of 0.40. The company has a current ratio of 1.20, a quick ratio of 0.95 and a debt-to-equity ratio of 0.72. The company has a 50-day moving average of $18.61 and a 200 day moving average of $20.24. Flowers Foods, Inc. has a 1 year low of $17.33 and a 1 year high of $26.12.

Flowers Foods (NYSE:FLO - Get Free Report) last announced its quarterly earnings results on Friday, February 7th. The company reported $0.22 earnings per share for the quarter, beating analysts' consensus estimates of $0.21 by $0.01. Flowers Foods had a net margin of 4.86% and a return on equity of 19.48%. During the same quarter in the previous year, the firm earned $0.20 earnings per share. Sell-side analysts expect that Flowers Foods, Inc. will post 1.18 earnings per share for the current year.

Flowers Foods Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 5.33%. The ex-dividend date of this dividend was Friday, February 28th. Flowers Foods's dividend payout ratio (DPR) is presently 82.05%.

About Flowers Foods

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.