Allspring Global Investments Holdings LLC decreased its holdings in Flowers Foods, Inc. (NYSE:FLO – Get Rating) by 29.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,300,921 shares of the company’s stock after selling 555,830 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Flowers Foods were worth $37,388,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of FLO. Romano Brothers AND Company acquired a new position in Flowers Foods in the 4th quarter worth about $25,000. New Millennium Group LLC acquired a new position in Flowers Foods in the 2nd quarter worth about $29,000. Ellevest Inc. raised its holdings in Flowers Foods by 350.8% in the 3rd quarter. Ellevest Inc. now owns 1,722 shares of the company’s stock worth $43,000 after purchasing an additional 1,340 shares during the period. Dark Forest Capital Management LP raised its holdings in Flowers Foods by 28.3% in the 2nd quarter. Dark Forest Capital Management LP now owns 1,716 shares of the company’s stock worth $45,000 after purchasing an additional 378 shares during the period. Finally, Altshuler Shaham Ltd acquired a new position in Flowers Foods in the 3rd quarter worth about $45,000. Institutional investors and hedge funds own 66.81% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on FLO. Deutsche Bank Aktiengesellschaft reduced their price target on Flowers Foods from $27.00 to $26.00 and set a “hold” rating for the company in a report on Monday, March 20th. StockNews.com begins coverage on Flowers Foods in a report on Thursday, March 16th. They set a “buy” rating for the company.
Flowers Foods Price Performance
Shares of Flowers Foods stock opened at $27.78 on Tuesday. Flowers Foods, Inc. has a 12 month low of $24.15 and a 12 month high of $30.16. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.43 and a quick ratio of 1.13. The stock has a market capitalization of $5.87 billion, a P/E ratio of 25.96 and a beta of 0.39. The business has a 50 day simple moving average of $27.50 and a two hundred day simple moving average of $27.69.
Flowers Foods (NYSE:FLO – Get Rating) last posted its quarterly earnings results on Friday, February 10th. The company reported $0.23 EPS for the quarter, meeting the consensus estimate of $0.23. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Flowers Foods has a return on equity of 18.77% and a net margin of 4.75%. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.20 earnings per share. As a group, analysts predict that Flowers Foods, Inc. will post 1.25 EPS for the current fiscal year.
Flowers Foods Announces Dividends
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 17th. Investors of record on Friday, March 3rd were given a $0.22 dividend. The ex-dividend date of this dividend was Thursday, March 2nd. This represents a $0.88 annualized dividend and a yield of 3.17%. Flowers Foods payout ratio is 82.24%.
About Flowers Foods
Flowers Foods, Inc. engages in the manufacture and sale of bakery products. The firm offers bakery foods for retail and food service customers in the United States. Its brands include Nature’s Own, Dave’s Killer Bread, Wonder, Canyon Bakehouse, Tastykake and Mrs. Freshley’s. The company was founded by William Howard Flowers, Sr.
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