Flowers Foods, Inc. (NYSE:FLO) Shares Acquired by State of Tennessee Treasury Department

State of Tennessee Treasury Department lifted its position in shares of Flowers Foods, Inc. (NYSE:FLO) by 4.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 123,970 shares of the company’s stock after buying an additional 5,201 shares during the quarter. State of Tennessee Treasury Department owned approximately 0.06% of Flowers Foods worth $2,867,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of Flowers Foods by 2.3% during the 2nd quarter. BlackRock Inc. now owns 16,893,384 shares of the company’s stock worth $393,109,000 after buying an additional 375,717 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Flowers Foods by 1.2% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 15,572,599 shares of the company’s stock valued at $362,374,000 after purchasing an additional 179,651 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Flowers Foods by 4.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,585,282 shares of the company’s stock valued at $83,430,000 after purchasing an additional 153,720 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Flowers Foods by 0.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,001,831 shares of the company’s stock valued at $46,583,000 after purchasing an additional 15,972 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in Flowers Foods by 29.6% in the 2nd quarter. Wells Fargo & Company MN now owns 1,691,378 shares of the company’s stock valued at $39,359,000 after purchasing an additional 385,982 shares during the last quarter. 64.53% of the stock is owned by institutional investors and hedge funds.

Shares of FLO stock opened at $20.90 on Friday. The firm has a 50-day moving average price of $22.11 and a 200 day moving average price of $22.66. Flowers Foods, Inc. has a twelve month low of $17.78 and a twelve month high of $24.35. The company has a market capitalization of $4.49 billion, a price-to-earnings ratio of 22.23 and a beta of 0.38. The company has a current ratio of 1.15, a quick ratio of 0.90 and a debt-to-equity ratio of 0.96.

Flowers Foods (NYSE:FLO) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.22 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.22. Flowers Foods had a net margin of 4.44% and a return on equity of 15.95%. The company had revenue of $966.56 million during the quarter, compared to the consensus estimate of $947.50 million. During the same quarter in the prior year, the company posted $0.23 EPS. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, research analysts predict that Flowers Foods, Inc. will post 0.96 earnings per share for the current year.

Several research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Flowers Foods from a “sell” rating to a “hold” rating and set a $24.00 target price for the company in a research note on Thursday, September 19th. DA Davidson assumed coverage on shares of Flowers Foods in a research note on Monday, August 5th. They issued a “neutral” rating and a $24.00 target price for the company. Shore Capital reissued a “buy” rating on shares of Flowers Foods in a research note on Tuesday, October 22nd. FinnCap reissued a “corporate” rating on shares of Flowers Foods in a research note on Tuesday, October 22nd. Finally, ValuEngine downgraded shares of Flowers Foods from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $20.50.

Flowers Foods 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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Institutional Ownership by Quarter for Flowers Foods (NYSE:FLO)

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