Flowers Foods (NYSE:FLO) Shares Gap Down to $23.39

Flowers Foods, Inc. (NYSE:FLOGet Free Report)’s share price gapped down prior to trading on Friday . The stock had previously closed at $23.39, but opened at $22.84. Flowers Foods shares last traded at $22.51, with a volume of 289,002 shares changing hands.

Analyst Upgrades and Downgrades

FLO has been the topic of several recent analyst reports. TheStreet lowered Flowers Foods from a “b-” rating to a “c+” rating in a research note on Monday, October 16th. StockNews.com upgraded Flowers Foods from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Truist Financial cut their price objective on Flowers Foods from $25.00 to $23.00 and set a “hold” rating on the stock in a report on Monday, November 13th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $24.00.

View Our Latest Analysis on Flowers Foods

Flowers Foods Trading Down 5.1 %

The company has a fifty day simple moving average of $22.54 and a two-hundred day simple moving average of $22.57. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.76. The company has a market cap of $4.68 billion, a PE ratio of 38.26, a P/E/G ratio of 10.51 and a beta of 0.40.

Flowers Foods (NYSE:FLOGet Free Report) last issued its quarterly earnings results on Friday, February 9th. The company reported $0.20 earnings per share for the quarter, hitting the consensus estimate of $0.20. Flowers Foods had a return on equity of 17.89% and a net margin of 2.42%. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the business earned $0.23 EPS. Flowers Foods’s revenue was up 4.3% on a year-over-year basis. Analysts anticipate that Flowers Foods, Inc. will post 1.29 EPS for the current year.

Flowers Foods Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $0.92 annualized dividend and a yield of 4.15%. Flowers Foods’s dividend payout ratio (DPR) is 158.62%.

Insiders Place Their Bets

In other Flowers Foods news, CFO R Steve Kinsey acquired 1,780 shares of the stock in a transaction dated Wednesday, December 20th. The stock was acquired at an average cost of $22.46 per share, with a total value of $39,978.80. Following the transaction, the chief financial officer now owns 399,520 shares in the company, valued at approximately $8,973,219.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Flowers Foods news, CEO Ryals Mcmullian acquired 9,100 shares of the stock in a transaction dated Monday, December 18th. The stock was acquired at an average cost of $21.99 per share, with a total value of $200,109.00. Following the transaction, the chief executive officer now owns 849,028 shares in the company, valued at approximately $18,670,125.72. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO R Steve Kinsey acquired 1,780 shares of the stock in a transaction dated Wednesday, December 20th. The shares were acquired at an average cost of $22.46 per share, with a total value of $39,978.80. Following the completion of the transaction, the chief financial officer now owns 399,520 shares in the company, valued at approximately $8,973,219.20. The disclosure for this purchase can be found here. 11.49% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FLO. Vanguard Group Inc. boosted its position in shares of Flowers Foods by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 19,913,247 shares of the company’s stock valued at $491,657,000 after purchasing an additional 426,547 shares during the period. BlackRock Inc. boosted its position in shares of Flowers Foods by 1.3% in the 1st quarter. BlackRock Inc. now owns 19,313,735 shares of the company’s stock valued at $529,389,000 after purchasing an additional 243,602 shares during the period. State Street Corp boosted its position in shares of Flowers Foods by 206.0% in the 1st quarter. State Street Corp now owns 17,286,504 shares of the company’s stock valued at $473,823,000 after purchasing an additional 11,637,370 shares during the period. Renaissance Technologies LLC boosted its position in shares of Flowers Foods by 8.1% in the 1st quarter. Renaissance Technologies LLC now owns 5,999,785 shares of the company’s stock valued at $154,254,000 after purchasing an additional 450,441 shares during the period. Finally, Boston Trust Walden Corp boosted its position in shares of Flowers Foods by 37.0% in the 4th quarter. Boston Trust Walden Corp now owns 4,583,334 shares of the company’s stock valued at $103,171,000 after purchasing an additional 1,238,749 shares during the period. 78.55% of the stock is owned by institutional investors and hedge funds.

About Flowers Foods

(Get Free Report)

Flowers Foods, Inc produces and markets packaged bakery food products in the United States. Its principal products include fresh breads, buns, rolls, snack cakes, and tortillas, as well as frozen breads and rolls under the Nature's Own, Dave's Killer Bread, Wonder, Canyon Bakehouse, Mrs. Freshley's, and Tastykake brand names.

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