Insider Selling: Flowers Foods, Inc. (FLO) Insider Sells 15,000 Shares of Stock
Flowers Foods, Inc. (NYSE:FLO) insider Robert L. Benton, Jr. sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $18.87, for a total transaction of $283,050.00. Following the sale, the insider now owns 81,677 shares in the company, valued at $1,541,244.99. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Shares of Flowers Foods, Inc. (NYSE:FLO) traded up 0.86% during trading on Wednesday, hitting $18.83. 1,061,877 shares of the stock traded hands. Flowers Foods, Inc. has a 52 week low of $14.60 and a 52 week high of $21.00. The firm has a market cap of $3.94 billion, a P/E ratio of 24.81 and a beta of 1.01. The company has a 50-day moving average of $18.00 and a 200-day moving average of $18.37.
Flowers Foods (NYSE:FLO) last issued its earnings results on Wednesday, August 9th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. Flowers Foods had a return on equity of 14.79% and a net margin of 4.06%. The company had revenue of $926.64 million for the quarter, compared to analyst estimates of $931.26 million. During the same period in the prior year, the firm earned $0.26 earnings per share. Flowers Foods’s revenue for the quarter was down .9% on a year-over-year basis. On average, analysts forecast that Flowers Foods, Inc. will post $0.85 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend was Wednesday, August 30th. Flowers Foods’s payout ratio is 90.67%.
Several large investors have recently modified their holdings of FLO. BlackRock Inc. raised its position in shares of Flowers Foods by 13,803.5% during the first quarter. BlackRock Inc. now owns 14,447,449 shares of the company’s stock worth $280,425,000 after purchasing an additional 14,343,537 shares during the period. Deprince Race & Zollo Inc. raised its position in shares of Flowers Foods by 120.8% during the second quarter. Deprince Race & Zollo Inc. now owns 1,708,776 shares of the company’s stock worth $29,579,000 after purchasing an additional 934,699 shares during the period. Denver Investment Advisors LLC acquired a new position in shares of Flowers Foods during the second quarter worth approximately $11,938,000. Koch Industries Inc. acquired a new position in shares of Flowers Foods during the second quarter worth approximately $443,000. Finally, Gotham Asset Management LLC raised its position in shares of Flowers Foods by 3,771.0% during the second quarter. Gotham Asset Management LLC now owns 444,509 shares of the company’s stock worth $7,694,000 after purchasing an additional 433,026 shares during the period. 64.66% of the stock is currently owned by institutional investors.
Several analysts have commented on FLO shares. BidaskClub upgraded shares of Flowers Foods from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Jefferies Group LLC downgraded shares of Flowers Foods from a “buy” rating to a “hold” rating and dropped their target price for the stock from $23.00 to $19.00 in a report on Friday, July 28th. BMO Capital Markets restated a “hold” rating and set a $19.00 target price on shares of Flowers Foods in a report on Thursday, July 20th. Finally, Zacks Investment Research upgraded shares of Flowers Foods from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $19.67.
Flowers Foods Company Profile
Flowers Foods, Inc is a producer and marketer of packaged bakery products. The Company operates in two segments: direct-store-delivery segment (DSD Segment) and warehouse delivery segment (Warehouse Segment). The DSD segment produces fresh breads, buns, rolls, tortillas and snack cakes sold primarily by a network of independent distributors to retail and foodservice customers in the areas of the United States: East, South, Southwest, California, and select markets in the Midwest, Pacific Northwest, Nevada, and Colorado.
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