State of Michigan Retirement System Has $1.74 Million Holdings in Flowers Foods, Inc. (NYSE:FLO)

State of Michigan Retirement System lifted its position in shares of Flowers Foods, Inc. (NYSE:FLO) by 1.7% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 72,933 shares of the company’s stock after purchasing an additional 1,200 shares during the quarter. State of Michigan Retirement System’s holdings in Flowers Foods were worth $1,736,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Veriti Management LLC acquired a new stake in shares of Flowers Foods during the fourth quarter worth $25,000. CWM LLC increased its position in shares of Flowers Foods by 110.0% during the first quarter. CWM LLC now owns 1,321 shares of the company’s stock worth $31,000 after buying an additional 692 shares during the period. JJJ Advisors Inc. increased its position in shares of Flowers Foods by 167.5% during the first quarter. JJJ Advisors Inc. now owns 1,752 shares of the company’s stock worth $42,000 after buying an additional 1,097 shares during the period. Montag A & Associates Inc. acquired a new stake in shares of Flowers Foods during the fourth quarter worth $45,000. Finally, FMR LLC increased its position in shares of Flowers Foods by 131.6% during the first quarter. FMR LLC now owns 2,279 shares of the company’s stock worth $49,000 after buying an additional 1,295 shares during the period. Institutional investors own 64.48% of the company’s stock.

NYSE:FLO opened at $24.25 on Monday. The company has a current ratio of 1.68, a quick ratio of 1.43 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $5.13 billion, a price-to-earnings ratio of 52.72 and a beta of 0.34. The firm has a fifty day simple moving average of $24.16 and a two-hundred day simple moving average of $23.07. Flowers Foods, Inc. has a 12 month low of $21.55 and a 12 month high of $25.18.

Flowers Foods (NYSE:FLO) last posted its quarterly earnings results on Friday, February 12th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.04. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $998.05 million. Flowers Foods had a net margin of 2.30% and a return on equity of 19.41%. Equities analysts predict that Flowers Foods, Inc. will post 1.27 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 19th. Shareholders of record on Friday, March 5th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend was Thursday, March 4th. Flowers Foods’s payout ratio is 83.33%.

Separately, Stephens began coverage on shares of Flowers Foods in a research report on Tuesday, January 19th. They set an “equal weight” rating and a $25.00 price objective for the company.

About Flowers Foods

Flowers Foods, Inc produces and markets packaged bakery products in the United States. It offers fresh breads, buns, rolls, snack cakes, and tortillas, as well as frozen breads and rolls under the Nature's Own, Dave's Killer Bread, Wonder, Canyon Bakehouse, Mrs. Freshley's, and Tastykake brand names.

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

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