First Citizens Bank & Trust Co. increased its stake in shares of Flowers Foods, Inc. (NYSE:FLO) by 37.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,782 shares of the company’s stock after acquiring an additional 5,653 shares during the period. First Citizens Bank & Trust Co.’s holdings in Flowers Foods were worth $443,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of FLO. Bank of New York Mellon Corp grew its holdings in Flowers Foods by 1.1% during the third quarter. Bank of New York Mellon Corp now owns 2,663,643 shares of the company’s stock worth $49,704,000 after acquiring an additional 29,251 shares during the period. Martingale Asset Management L P grew its holdings in Flowers Foods by 29.2% during the third quarter. Martingale Asset Management L P now owns 645,467 shares of the company’s stock worth $12,045,000 after acquiring an additional 145,805 shares during the period. BlackRock Inc. grew its holdings in Flowers Foods by 0.3% during the third quarter. BlackRock Inc. now owns 15,941,781 shares of the company’s stock worth $297,473,000 after acquiring an additional 47,373 shares during the period. Dimensional Fund Advisors LP grew its holdings in Flowers Foods by 2.9% during the third quarter. Dimensional Fund Advisors LP now owns 2,544,115 shares of the company’s stock worth $47,473,000 after acquiring an additional 72,001 shares during the period. Finally, Baird Financial Group Inc. acquired a new stake in Flowers Foods during the third quarter worth about $201,000. 67.43% of the stock is currently owned by hedge funds and other institutional investors.
Shares of FLO opened at $21.39 on Monday. The company has a current ratio of 1.36, a quick ratio of 1.05 and a debt-to-equity ratio of 0.79. Flowers Foods, Inc. has a 12 month low of $17.78 and a 12 month high of $22.82. The company has a market capitalization of $4.51 billion, a price-to-earnings ratio of 22.76 and a beta of 0.50.
In other Flowers Foods news, insider Debo Mukherjee acquired 1,550 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were bought at an average cost of $20.20 per share, with a total value of $31,310.00. Following the completion of the acquisition, the insider now owns 1,550 shares in the company, valued at $31,310. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 15.20% of the stock is currently owned by company insiders.
Several analysts recently commented on the company. Zacks Investment Research raised Flowers Foods from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Tuesday, April 9th. Pivotal Research reissued a “sell” rating and issued a $16.00 price objective on shares of Flowers Foods in a report on Thursday, February 7th. Finally, ValuEngine raised Flowers Foods from a “hold” rating to a “buy” rating in a report on Friday, January 4th. One analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Flowers Foods has a consensus rating of “Hold” and an average target price of $19.20.
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Flowers Foods Company Profile
Flowers Foods, Inc produces and markets bakery products in the United States. The company operates through two segments, Direct-Store-Delivery and Warehouse Delivery. The Direct-Store-Delivery segment produces and markets fresh breads, buns, rolls, tortillas, and snack cakes. This segment offers its products primarily under the Nature's Own, Dave's Killer Bread, Tastykake, Wonder, and Cobblestone Bread Company brand names.
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