PNC Financial Services Group Inc. boosted its position in shares of Flowers Foods, Inc. (NYSE:FLO – Free Report) by 13.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,092 shares of the company’s stock after purchasing an additional 1,453 shares during the period. PNC Financial Services Group Inc.’s holdings in Flowers Foods were worth $272,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Financial Connections Group Inc. acquired a new stake in shares of Flowers Foods during the fourth quarter valued at about $30,000. NBC Securities Inc. purchased a new stake in Flowers Foods during the 3rd quarter worth approximately $32,000. Gladius Capital Management LP increased its holdings in Flowers Foods by 46.4% during the 3rd quarter. Gladius Capital Management LP now owns 1,539 shares of the company’s stock worth $34,000 after purchasing an additional 488 shares during the last quarter. GAMMA Investing LLC acquired a new position in shares of Flowers Foods in the 4th quarter valued at approximately $34,000. Finally, Tennessee Valley Asset Management Partners purchased a new position in shares of Flowers Foods during the 4th quarter valued at approximately $50,000. Hedge funds and other institutional investors own 75.45% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts have commented on FLO shares. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Flowers Foods from $22.00 to $23.00 and gave the company a “hold” rating in a research note on Thursday, May 9th. DA Davidson boosted their price objective on Flowers Foods from $24.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, May 17th. Finally, StockNews.com upgraded Flowers Foods from a “hold” rating to a “buy” rating in a research note on Saturday, May 25th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Flowers Foods currently has a consensus rating of “Hold” and an average target price of $24.00.
Get Our Latest Analysis on FLO
Insider Buying and Selling at Flowers Foods
In other news, Director Edward J. Jr. Casey purchased 5,000 shares of the stock in a transaction dated Tuesday, April 2nd. The stock was acquired at an average price of $23.55 per share, for a total transaction of $117,750.00. Following the completion of the transaction, the director now owns 20,330 shares of the company’s stock, valued at $478,771.50. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In other Flowers Foods news, Director Edward J. Jr. Casey acquired 5,000 shares of Flowers Foods stock in a transaction dated Tuesday, April 2nd. The stock was acquired at an average cost of $23.55 per share, for a total transaction of $117,750.00. Following the completion of the transaction, the director now owns 20,330 shares in the company, valued at approximately $478,771.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Terry S. Thomas sold 36,577 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $23.11, for a total value of $845,294.47. Following the completion of the transaction, the insider now directly owns 42,740 shares of the company’s stock, valued at $987,721.40. The disclosure for this sale can be found here. 11.42% of the stock is currently owned by company insiders.
Flowers Foods Trading Down 0.4 %
Flowers Foods stock opened at $23.08 on Friday. Flowers Foods, Inc. has a 1 year low of $19.64 and a 1 year high of $26.33. The firm’s 50-day moving average is $24.01 and its 200-day moving average is $23.01. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.82 and a current ratio of 1.11. The company has a market cap of $4.87 billion, a P/E ratio of 39.12, a PEG ratio of 5.94 and a beta of 0.37.
Flowers Foods (NYSE:FLO – Get Free Report) last issued its earnings results on Thursday, May 16th. The company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.02). The company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.58 billion. Flowers Foods had a net margin of 2.45% and a return on equity of 18.35%. The business’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.38 earnings per share. On average, equities analysts expect that Flowers Foods, Inc. will post 1.24 earnings per share for the current year.
Flowers Foods Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 4.16%. This is a boost from Flowers Foods’s previous quarterly dividend of $0.23. The ex-dividend date is Thursday, June 6th. Flowers Foods’s dividend payout ratio (DPR) is presently 155.93%.
Flowers Foods Company Profile
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.
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