Cresset Asset Management LLC Sells 67,240 Shares of Flowers Foods, Inc. (NYSE:FLO)

Cresset Asset Management LLC reduced its position in shares of Flowers Foods, Inc. (NYSE:FLO) by 82.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,180 shares of the company’s stock after selling 67,240 shares during the quarter. Cresset Asset Management LLC’s holdings in Flowers Foods were worth $293,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Cetera Investment Advisers increased its stake in Flowers Foods by 8.9% during the 4th quarter. Cetera Investment Advisers now owns 13,433 shares of the company’s stock valued at $278,000 after purchasing an additional 1,101 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Flowers Foods by 27.0% during the 4th quarter. BNP Paribas Financial Markets now owns 228,913 shares of the company’s stock valued at $4,729,000 after purchasing an additional 48,686 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Flowers Foods by 0.6% during the 4th quarter. Ameriprise Financial Inc. now owns 217,032 shares of the company’s stock valued at $4,484,000 after purchasing an additional 1,238 shares in the last quarter. Algert Global LLC increased its stake in Flowers Foods by 4.7% during the 4th quarter. Algert Global LLC now owns 267,232 shares of the company’s stock valued at $5,521,000 after purchasing an additional 11,995 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its stake in Flowers Foods by 2.9% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 41,200 shares of the company’s stock valued at $851,000 after purchasing an additional 1,165 shares in the last quarter. 75.45% of the stock is currently owned by institutional investors.

Flowers Foods Stock Performance

Shares of NYSE FLO opened at $17.29 on Friday. The firm’s 50-day moving average price is $18.10 and its 200-day moving average price is $19.64. The company has a quick ratio of 0.95, a current ratio of 1.20 and a debt-to-equity ratio of 0.72. The company has a market cap of $3.65 billion, a PE ratio of 14.77, a PEG ratio of 8.72 and a beta of 0.37. Flowers Foods, Inc. has a 52-week low of $16.43 and a 52-week high of $25.65.

Flowers Foods (NYSE:FLO) last posted its quarterly earnings data on Friday, May 16th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.03). The business had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.60 billion. Flowers Foods had a return on equity of 19.48% and a net margin of 4.86%. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.38 EPS. As a group, analysts anticipate that Flowers Foods, Inc. will post 1.18 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on FLO shares. DA Davidson reduced their price objective on shares of Flowers Foods from $24.00 to $21.00 and set a “neutral” rating for the company in a research note on Monday, February 10th. Jefferies Financial Group dropped their price target on shares of Flowers Foods from $20.00 to $16.00 and set a “hold” rating on the stock in a report on Friday. Finally, Truist Financial dropped their price target on shares of Flowers Foods from $23.00 to $20.00 and set a “hold” rating on the stock in a report on Monday, February 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Flowers Foods has a consensus rating of “Hold” and a consensus target price of $19.25.

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.