First Trust Advisors LP cut its holdings in shares of Flowers Foods, Inc. (NYSE:FLO) by 3.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 493,431 shares of the company’s stock after selling 15,797 shares during the period. First Trust Advisors LP owned about 0.23% of Flowers Foods worth $10,520,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. boosted its stake in shares of Flowers Foods by 38.1% in the third quarter. JPMorgan Chase & Co. now owns 609,470 shares of the company’s stock worth $11,372,000 after acquiring an additional 168,204 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Flowers Foods by 1.8% in the third quarter. Legal & General Group Plc now owns 267,292 shares of the company’s stock worth $4,987,000 after acquiring an additional 4,682 shares during the last quarter. Strs Ohio boosted its stake in shares of Flowers Foods by 2.5% in the fourth quarter. Strs Ohio now owns 25,661 shares of the company’s stock worth $473,000 after acquiring an additional 630 shares during the last quarter. Quantamental Technologies LLC acquired a new stake in shares of Flowers Foods in the fourth quarter worth approximately $28,000. Finally, Arizona State Retirement System boosted its stake in shares of Flowers Foods by 1.1% in the fourth quarter. Arizona State Retirement System now owns 131,690 shares of the company’s stock worth $2,432,000 after acquiring an additional 1,419 shares during the last quarter. Institutional investors own 64.74% of the company’s stock.
A number of equities analysts recently commented on the company. Zacks Investment Research downgraded Flowers Foods from a “buy” rating to a “hold” rating in a research report on Wednesday, April 10th. ValuEngine upgraded Flowers Foods from a “hold” rating to a “buy” rating in a research report on Friday, May 17th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. Flowers Foods presently has an average rating of “Hold” and an average price target of $19.25.
Flowers Foods (NYSE:FLO) last issued its quarterly earnings data 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. Flowers Foods had a return on equity of 15.85% and a net margin of 4.28%. The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the previous year, the firm posted $0.30 earnings per share. The company’s revenue was up 4.8% on a year-over-year basis. Equities research analysts predict that Flowers Foods, Inc. will post 1 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 3.27%. This is a boost from Flowers Foods’s previous quarterly dividend of $0.18. The ex-dividend date was Thursday, June 6th. Flowers Foods’s payout ratio is presently 80.85%.
Flowers Foods 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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