Flowers Foods, Inc. (NYSE:FLO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Monday. The firm currently has a $21.00 price target on the stock. Zacks Investment Research‘s price objective would suggest a potential upside of 12.30% from the stock’s previous close.
According to Zacks, “Flowers Foods is one of the largest producers of packaged bakery foods in the United States. The company operates more than 40 highly efficient bakeries that produce a wide range of bakery food for retail and foodservice customers in the U.S. The company maintains some of the most efficient and technologically advanced bakeries in the country and has a team of outstanding employees and associates. Each bakery operates as a separate subsidiary of the company and has its own president, human resources director, and controller. Fresh breads, buns, rolls, snack cakes, and tortillas are available to approximately 80% of the U.S. population through the company’s direct-store delivery (DSD) network. “
Other research analysts also recently issued reports about the company. BidaskClub raised Flowers Foods from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. Jefferies Group LLC downgraded Flowers Foods from a “buy” rating to a “hold” rating and decreased their price target for the company from $23.00 to $19.00 in a report on Friday, July 28th. BMO Capital Markets reissued a “hold” rating and issued a $19.00 price target on shares of Flowers Foods in a report on Thursday, July 20th. Pivotal Research raised Flowers Foods from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a report on Thursday. Finally, SunTrust Banks, Inc. reissued a “hold” rating and issued a $20.00 price target on shares of Flowers Foods in a report on Friday. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Flowers Foods presently has a consensus rating of “Buy” and a consensus price target of $21.29.
Shares of Flowers Foods (NYSE:FLO) traded up $0.34 during trading hours on Monday, reaching $18.70. The company’s stock had a trading volume of 1,386,800 shares, compared to its average volume of 1,352,793. Flowers Foods has a one year low of $15.27 and a one year high of $21.00. The firm has a market capitalization of $3,919.70, a P/E ratio of 21.25, a PEG ratio of 3.56 and a beta of 1.00. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.28 and a quick ratio of 1.01.
Flowers Foods (NYSE:FLO) last announced its quarterly earnings results on Wednesday, November 8th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.03. Flowers Foods had a return on equity of 15.16% and a net margin of 2.16%. The company had revenue of $932.80 million during the quarter, compared to the consensus estimate of $915.55 million. During the same period in the previous year, the company posted $0.21 earnings per share. Flowers Foods’s revenue for the quarter was up 1.5% on a year-over-year basis. equities research analysts anticipate that Flowers Foods will post 0.86 EPS for the current year.
In other news, EVP Marta Jones Turner sold 37,062 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $17.91, for a total value of $663,780.42. Following the completion of the sale, the executive vice president now directly owns 266,444 shares in the company, valued at $4,772,012.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Karyl H. Lauder sold 28,173 shares of the business’s stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $18.59, for a total value of $523,736.07. The disclosure for this sale can be found here. Insiders sold 98,735 shares of company stock valued at $1,818,921 over the last 90 days. Company insiders own 15.81% of the company’s stock.
Several institutional investors have recently bought and sold shares of FLO. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Flowers Foods by 10.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,710 shares of the company’s stock valued at $116,000 after buying an additional 629 shares in the last quarter. Ffcm LLC increased its position in shares of Flowers Foods by 1,298.6% in the third quarter. Ffcm LLC now owns 6,965 shares of the company’s stock valued at $131,000 after buying an additional 6,467 shares in the last quarter. Crescent Grove Advisors LLC purchased a new stake in shares of Flowers Foods during the second quarter worth approximately $173,000. BB&T Securities LLC purchased a new stake in shares of Flowers Foods during the third quarter worth approximately $192,000. Finally, AMG National Trust Bank purchased a new stake in shares of Flowers Foods during the second quarter worth approximately $196,000. Institutional investors and hedge funds own 68.69% of the company’s stock.
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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