Flowers Foods, Inc. (NYSE:FLO) declared a quarterly dividend on Thursday, May 23rd, RTT News reports. Stockholders of record on Friday, June 7th will be paid a dividend of 0.19 per share on Friday, June 21st. This represents a $0.76 annualized dividend and a dividend yield of 3.26%. This is a positive change from Flowers Foods’s previous quarterly dividend of $0.18.
Flowers Foods has raised its dividend by an average of 7.8% annually over the last three years and has raised its dividend annually for the last 13 consecutive years. Flowers Foods has a payout ratio of 71.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Flowers Foods to earn $1.07 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 67.3%.
Shares of FLO stock traded up $0.29 on Thursday, hitting $23.29. The stock had a trading volume of 16,384 shares, compared to its average volume of 1,044,720. The company has a market capitalization of $4.81 billion, a PE ratio of 24.47 and a beta of 0.49. The company has a current ratio of 1.17, a quick ratio of 0.92 and a debt-to-equity ratio of 1.02. Flowers Foods has a 52-week low of $17.78 and a 52-week high of $23.18.
Several research analysts have recently weighed in on FLO shares. Pivotal Research restated a “sell” rating and issued a $16.00 target price on shares of Flowers Foods in a research note on Thursday, February 7th. ValuEngine downgraded shares of Flowers Foods from a “buy” rating to a “hold” rating in a research note on Friday, February 8th. Finally, Zacks Investment Research downgraded shares of Flowers Foods from a “buy” rating to a “hold” rating in a research note on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $19.25.
In related news, insider Debo Mukherjee acquired 1,550 shares of Flowers Foods stock in a transaction on Thursday, March 14th. The shares were purchased at an average cost of $20.20 per share, for a total transaction of $31,310.00. Following the purchase, the insider now directly owns 1,550 shares of the company’s stock, valued at approximately $31,310. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 8.17% of the company’s stock.
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About Flowers Foods
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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