Victory Capital Management Inc. cut its stake in shares of Flowers Foods, Inc. (NYSE:FLO) by 1.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,834,790 shares of the company’s stock after selling 37,878 shares during the period. Victory Capital Management Inc. owned 1.34% of Flowers Foods worth $65,966,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of FLO. Wells Fargo & Company MN raised its position in shares of Flowers Foods by 29.6% in the second quarter. Wells Fargo & Company MN now owns 1,691,378 shares of the company’s stock valued at $39,359,000 after buying an additional 385,982 shares in the last quarter. BlackRock Inc. raised its position in shares of Flowers Foods by 2.3% in the second quarter. BlackRock Inc. now owns 16,893,384 shares of the company’s stock valued at $393,109,000 after buying an additional 375,717 shares in the last quarter. Prudential Financial Inc. raised its position in shares of Flowers Foods by 236.4% in the second quarter. Prudential Financial Inc. now owns 391,856 shares of the company’s stock valued at $9,118,000 after buying an additional 275,360 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new stake in shares of Flowers Foods in the second quarter valued at approximately $6,380,000. Finally, W.E. Donoghue & Co. LLC raised its position in shares of Flowers Foods by 515.0% in the second quarter. W.E. Donoghue & Co. LLC now owns 302,126 shares of the company’s stock valued at $7,030,000 after buying an additional 252,999 shares in the last quarter. Hedge funds and other institutional investors own 64.73% of the company’s stock.
A number of research firms have recently weighed in on FLO. Zacks Investment Research upgraded shares of Flowers Foods from a “sell” rating to a “hold” rating and set a $24.00 price target for the company in a research report on Thursday, September 19th. ValuEngine downgraded shares of Flowers Foods from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Finally, DA Davidson began coverage on shares of Flowers Foods in a research report on Monday, August 5th. They issued a “neutral” rating and a $24.00 price target for the company. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $20.50.
Flowers Foods (NYSE:FLO) last posted its earnings results on Wednesday, August 7th. The company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). The company had revenue of $975.76 million for the quarter, compared to the consensus estimate of $967.66 million. Flowers Foods had a return on equity of 15.95% and a net margin of 4.44%. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.25 EPS. On average, equities research analysts anticipate that Flowers Foods, Inc. will post 0.96 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.32%. Flowers Foods’s payout ratio is presently 80.85%.
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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