Flowers Foods, Inc. (NYSE:FLO) Holdings Cut by Bank of Montreal Can
Bank of Montreal Can reduced its holdings in shares of Flowers Foods, Inc. (NYSE:FLO) by 15.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,561 shares of the company’s stock after selling 7,019 shares during the quarter. Bank of Montreal Can’s holdings in Flowers Foods were worth $765,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of the business. Dimensional Fund Advisors LP grew its holdings in shares of Flowers Foods by 20.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,054,115 shares of the company’s stock worth $35,558,000 after buying an additional 342,563 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in shares of Flowers Foods in the second quarter worth approximately $4,980,000. State Street Corp boosted its position in shares of Flowers Foods by 1.1% in the second quarter. State Street Corp now owns 4,781,357 shares of the company’s stock worth $82,762,000 after acquiring an additional 53,592 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Flowers Foods by 1.9% in the second quarter. The Manufacturers Life Insurance Company now owns 271,009 shares of the company’s stock worth $4,691,000 after acquiring an additional 5,098 shares during the last quarter. Finally, Nomura Holdings Inc. acquired a new position in Flowers Foods during the second quarter valued at approximately $346,000. Hedge funds and other institutional investors own 63.05% of the company’s stock.
FLO has been the topic of a number of recent research reports. BMO Capital Markets lifted their price target on shares of Flowers Foods from $19.00 to $20.00 and gave the company a “market perform” rating in a research report on Wednesday, November 15th. Pivotal Research reissued a “buy” rating and set a $26.00 target price (up from $23.00) on shares of Flowers Foods in a research report on Friday, January 12th. Zacks Investment Research cut shares of Flowers Foods from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 12th. Stephens restated a “hold” rating and issued a $20.00 price target on shares of Flowers Foods in a research note on Friday, February 9th. Finally, TheStreet upgraded shares of Flowers Foods from a “c+” rating to a “b” rating in a research note on Wednesday, February 7th. Four analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $21.33.
Flowers Foods (NYSE:FLO) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.03. The firm had revenue of $873.60 million for the quarter, compared to the consensus estimate of $860.34 million. Flowers Foods had a return on equity of 15.17% and a net margin of 3.83%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.16 EPS. equities research analysts anticipate that Flowers Foods, Inc. will post 1.07 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Friday, March 2nd will be issued a $0.17 dividend. The ex-dividend date of this dividend is Thursday, March 1st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.19%. Flowers Foods’s dividend payout ratio is 141.67%.
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Flowers Foods 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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