BlackRock Inc. lifted its stake in shares of Flowers Foods, Inc. (NYSE:FLO) by 1.7% in the 1st quarter, HoldingsChannel reports. The fund owned 16,517,667 shares of the company’s stock after acquiring an additional 279,339 shares during the quarter. BlackRock Inc. owned about 0.08% of Flowers Foods worth $352,156,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Texas Permanent School Fund increased its position in shares of Flowers Foods by 4.0% during the 4th quarter. Texas Permanent School Fund now owns 120,066 shares of the company’s stock valued at $2,218,000 after purchasing an additional 4,627 shares during the period. BNP Paribas Arbitrage SA grew its position in Flowers Foods by 22.3% during the first quarter. BNP Paribas Arbitrage SA now owns 13,278 shares of the company’s stock worth $283,000 after buying an additional 2,419 shares in the last quarter. BBT Capital Management LLC acquired a new stake in Flowers Foods during the fourth quarter valued at approximately $524,000. Blue Sky Asset Management LLC acquired a new stake in Flowers Foods during the first quarter valued at approximately $209,000. Finally, Blueshift Asset Management LLC acquired a new position in shares of Flowers Foods in the 4th quarter worth approximately $354,000. 64.80% of the stock is owned by institutional investors and hedge funds.
FLO has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Flowers Foods from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Tuesday, April 9th. ValuEngine upgraded shares of Flowers Foods from a “hold” rating to a “buy” rating in a research report on Friday, May 17th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $19.25.
NYSE:FLO opened at $23.00 on Wednesday. The stock has a market cap of $4.81 billion, a price-to-earnings ratio of 24.47 and a beta of 0.43. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.17 and a quick ratio of 0.92. Flowers Foods, Inc. has a fifty-two week low of $17.78 and a fifty-two week high of $23.39.
Flowers Foods (NYSE:FLO) last posted its quarterly earnings data on Wednesday, May 15th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02. Flowers Foods had a net margin of 4.28% and a return on equity of 15.85%. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter last year, the firm posted $0.30 earnings per share. The firm’s revenue was up 4.8% compared to the same quarter last year. Equities research analysts expect that Flowers Foods, Inc. will post 1 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, June 7th will be given a dividend of $0.19 per share. The ex-dividend date is Thursday, June 6th. This represents a $0.76 annualized dividend and a dividend yield of 3.30%. This is a boost from Flowers Foods’s previous quarterly dividend of $0.18. Flowers Foods’s dividend payout ratio (DPR) is presently 80.85%.
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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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