Flowers Foods, Inc. (NYSE:FLO) declared a quarterly dividend on Friday, May 22nd, Wall Street Journal reports. Shareholders of record on Friday, June 5th will be given a dividend of 0.20 per share on Friday, June 19th. This represents a $0.80 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date of this dividend is Thursday, June 4th. This is a positive change from Flowers Foods’s previous quarterly dividend of $0.19.
Flowers Foods has increased its dividend payment by an average of 4.3% per year over the last three years and has raised its dividend every year for the last 14 years. Flowers Foods has a payout ratio of 71.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Flowers Foods to earn $1.11 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 68.5%.
FLO opened at $22.89 on Friday. The company has a quick ratio of 1.38, a current ratio of 1.65 and a debt-to-equity ratio of 1.06. The stock has a market cap of $4.83 billion, a price-to-earnings ratio of 21.53 and a beta of 0.37. Flowers Foods has a twelve month low of $17.42 and a twelve month high of $25.08. The company’s 50-day moving average price is $22.35 and its two-hundred day moving average price is $21.89.
A number of analysts recently commented on the stock. Jefferies Financial Group restated a “hold” rating and set a $23.00 price target on shares of Flowers Foods in a research note on Wednesday, February 5th. SunTrust Banks upped their price target on shares of Flowers Foods from $20.00 to $25.00 and gave the company a “hold” rating in a research note on Friday, May 15th. Zacks Investment Research cut shares of Flowers Foods from a “strong-buy” rating to a “hold” rating and set a $26.00 price target on the stock. in a research note on Thursday, April 9th. Finally, Deutsche Bank upped their price target on shares of Flowers Foods from $22.00 to $24.00 and gave the company a “hold” rating in a research note on Friday, May 15th. Six research analysts have rated the stock with a hold rating, The company has a consensus rating of “Hold” and a consensus target price of $23.80.
In other Flowers Foods news, Director David V. Singer sold 68,962 shares of the stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $24.07, for a total value of $1,659,915.34. Following the sale, the director now directly owns 17,983 shares in the company, valued at approximately $432,850.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 8.21% of the company’s stock.
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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