Northwestern Mutual Investment Management Company LLC trimmed its stake in shares of Flowers Foods, Inc. (NYSE:FLO) by 5.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,642 shares of the company’s stock after selling 2,041 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Flowers Foods were worth $696,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of Flowers Foods by 1.7% in the first quarter. BlackRock Inc. now owns 16,517,667 shares of the company’s stock valued at $352,156,000 after acquiring an additional 279,339 shares during the period. APG Asset Management N.V. raised its stake in shares of Flowers Foods by 36.2% in the fourth quarter. APG Asset Management N.V. now owns 3,663,400 shares of the company’s stock valued at $59,190,000 after acquiring an additional 972,700 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Flowers Foods by 27.5% in the fourth quarter. Bank of New York Mellon Corp now owns 3,395,361 shares of the company’s stock valued at $62,713,000 after acquiring an additional 731,718 shares during the period. Victory Capital Management Inc. raised its stake in shares of Flowers Foods by 10.5% in the first quarter. Victory Capital Management Inc. now owns 2,872,668 shares of the company’s stock valued at $61,245,000 after acquiring an additional 273,093 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Flowers Foods by 12.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,864,547 shares of the company’s stock valued at $52,907,000 after acquiring an additional 320,432 shares during the period. 64.60% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:FLO traded down $0.01 during trading on Monday, reaching $23.27. The stock had a trading volume of 757,400 shares, compared to its average volume of 1,069,158. Flowers Foods, Inc. has a one year low of $17.78 and a one year high of $23.91. The firm has a market cap of $4.92 billion, a P/E ratio of 24.76 and a beta of 0.44. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.17 and a quick ratio of 0.92. The stock has a 50-day moving average of $22.84.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were given a $0.19 dividend. This is a positive change from Flowers Foods’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a dividend yield of 3.27%. The ex-dividend date was Thursday, June 6th. Flowers Foods’s dividend payout ratio (DPR) is presently 80.85%.
FLO has been the topic of several recent analyst reports. Zacks Investment Research downgraded shares of Flowers Foods from a “buy” rating to a “hold” rating in a research note on Wednesday, April 10th. ValuEngine upgraded shares of Flowers Foods from a “hold” rating to a “buy” rating in a report on Friday, May 17th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $19.25.
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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