Truist Financial Lowers Flowers Foods (NYSE:FLO) Price Target to $20.00

Flowers Foods (NYSE:FLO) had its price objective decreased by Truist Financial from $23.00 to $20.00 in a research note released on Monday morning,Benzinga reports. Truist Financial currently has a hold rating on the stock.

Separately, StockNews.com downgraded shares of Flowers Foods from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $21.00.

Flowers Foods Price Performance

FLO opened at $18.43 on Monday. Flowers Foods has a twelve month low of $18.36 and a twelve month high of $26.12. The company has a current ratio of 1.24, a quick ratio of 0.95 and a debt-to-equity ratio of 0.75. The firm has a market cap of $3.88 billion, a price-to-earnings ratio of 16.17, a PEG ratio of 3.74 and a beta of 0.38. The company has a fifty day simple moving average of $20.20 and a 200 day simple moving average of $21.81.

Flowers Foods (NYSE:FLO) last posted its quarterly earnings data on Friday, February 7th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.01. Flowers Foods had a net margin of 4.70% and a return on equity of 19.41%. During the same quarter in the prior year, the business posted $0.20 EPS. Equities research analysts expect that Flowers Foods will post 1.27 EPS for the current fiscal year.

Flowers Foods Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were given a $0.24 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.21%. Flowers Foods’s payout ratio is currently 84.21%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Geode Capital Management LLC lifted its position in shares of Flowers Foods by 6.6% in the 3rd quarter. Geode Capital Management LLC now owns 4,159,076 shares of the company’s stock worth $95,971,000 after buying an additional 259,216 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Flowers Foods by 642.6% in the 4th quarter. SG Americas Securities LLC now owns 113,637 shares of the company’s stock worth $2,348,000 after buying an additional 98,335 shares during the last quarter. Jane Street Group LLC lifted its position in shares of Flowers Foods by 85.0% in the 3rd quarter. Jane Street Group LLC now owns 72,886 shares of the company’s stock worth $1,681,000 after buying an additional 33,480 shares during the last quarter. KBC Group NV lifted its position in shares of Flowers Foods by 2,156.0% in the 4th quarter. KBC Group NV now owns 136,354 shares of the company’s stock worth $2,817,000 after buying an additional 130,310 shares during the last quarter. Finally, Nordea Investment Management AB bought a new position in shares of Flowers Foods in the 4th quarter worth about $4,461,000. 75.45% of the stock is currently owned by institutional investors.

About Flowers Foods

Flowers Foods, Inc produces and markets packaged bakery food products in the United States. Its principal products include fresh breads, buns, rolls, snack items, bagels, English muffins, and tortillas, as well as frozen breads and rolls under the Nature's Own, Dave's Killer Bread, Wonder, Canyon Bakehouse, Mrs.