Crawford Investment Counsel Inc. grew its stake in Flowers Foods, Inc. (NYSE:FLO) by 4.7% during the 1st quarter, HoldingsChannel.com reports. The firm owned 190,358 shares of the company’s stock after acquiring an additional 8,495 shares during the quarter. Crawford Investment Counsel Inc.’s holdings in Flowers Foods were worth $4,058,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in FLO. Victory Capital Management Inc. grew its stake in shares of Flowers Foods by 284,317.4% in the 4th quarter. Victory Capital Management Inc. now owns 2,599,575 shares of the company’s stock valued at $48,014,000 after purchasing an additional 2,598,661 shares during the period. Norges Bank bought a new stake in shares of Flowers Foods in the 4th quarter valued at approximately $40,532,000. Oregon Public Employees Retirement Fund grew its stake in shares of Flowers Foods by 1,721.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,336,840 shares of the company’s stock valued at $72,000 after purchasing an additional 1,263,444 shares during the period. APG Asset Management N.V. grew its position in Flowers Foods by 36.2% during the 4th quarter. APG Asset Management N.V. now owns 3,663,400 shares of the company’s stock worth $59,190,000 after acquiring an additional 972,700 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Flowers Foods by 27.5% during the 4th quarter. Bank of New York Mellon Corp now owns 3,395,361 shares of the company’s stock worth $62,713,000 after acquiring an additional 731,718 shares during the last quarter. Institutional investors own 64.80% of the company’s stock.
Shares of FLO opened at $22.97 on Monday. The firm has a market capitalization of $4.86 billion, a price-to-earnings ratio of 24.44 and a beta of 0.49. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.92 and a current ratio of 1.17. Flowers Foods, Inc. has a 52 week low of $17.78 and a 52 week high of $23.39.
Flowers Foods (NYSE:FLO) last posted its quarterly earnings results on Wednesday, May 15th. The company reported $0.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.02. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.23 billion. Flowers Foods had a return on equity of 15.85% and a net margin of 4.28%. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.30 EPS. Analysts forecast that Flowers Foods, Inc. will post 1 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, June 7th will be paid a $0.19 dividend. The ex-dividend date is Thursday, June 6th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.31%. This is an increase from Flowers Foods’s previous quarterly dividend of $0.18. Flowers Foods’s dividend payout ratio is 76.60%.
A number of research firms recently commented on FLO. ValuEngine upgraded Flowers Foods from a “hold” rating to a “buy” rating in a research report on Friday, May 17th. Zacks Investment Research upgraded Flowers Foods from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Tuesday, April 9th. Finally, Pivotal Research restated a “sell” rating and set a $16.00 price target on shares of Flowers Foods in a research report on Thursday, February 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $19.25.
In related news, insider Debo Mukherjee purchased 1,550 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were bought at an average price of $20.20 per share, with a total value of $31,310.00. Following the purchase, the insider now directly owns 1,550 shares in the company, valued at approximately $31,310. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 8.17% of the company’s stock.
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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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