Flowers Foods (NYSE:FLO) Sets New 12-Month Low – Here’s What Happened

Flowers Foods, Inc. (NYSE:FLO)’s share price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $17.99 and last traded at $18.34, with a volume of 1656534 shares trading hands. The stock had previously closed at $18.51.

Wall Street Analysts Forecast Growth

FLO has been the topic of a number of recent research reports. StockNews.com downgraded shares of Flowers Foods from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 20th. DA Davidson decreased their price target on shares of Flowers Foods from $24.00 to $21.00 and set a “neutral” rating on the stock in a research note on Monday, February 10th. Finally, Truist Financial cut their price objective on shares of Flowers Foods from $23.00 to $20.00 and set a “hold” rating on the stock in a research report on Monday, February 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $21.00.

Flowers Foods Trading Up 0.9 %

The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.95 and a current ratio of 1.20. The company’s fifty day simple moving average is $19.75 and its 200-day simple moving average is $21.63. The company has a market capitalization of $4.02 billion, a P/E ratio of 16.28, a PEG ratio of 8.63 and a beta of 0.38.

Flowers Foods (NYSE:FLO) last issued its earnings results on Friday, February 7th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.01. Flowers Foods had a net margin of 4.86% and a return on equity of 19.48%. During the same quarter in the previous year, the business posted $0.20 EPS. Research analysts predict that Flowers Foods, Inc. will post 1.18 earnings per share for the current year.

Flowers Foods Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 5.04%. The ex-dividend date is Friday, February 28th. Flowers Foods’s payout ratio is 82.05%.

Hedge Funds Weigh In On Flowers Foods

Several hedge funds and other institutional investors have recently modified their holdings of FLO. Canada Pension Plan Investment Board acquired a new position in Flowers Foods in the 4th quarter worth approximately $29,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Flowers Foods in the 4th quarter worth approximately $30,000. Blue Trust Inc. increased its holdings in Flowers Foods by 18,254.5% in the 3rd quarter. Blue Trust Inc. now owns 2,019 shares of the company’s stock worth $45,000 after buying an additional 2,008 shares during the period. Capital Performance Advisors LLP acquired a new position in Flowers Foods in the 3rd quarter worth approximately $52,000. Finally, Brooklyn Investment Group increased its holdings in Flowers Foods by 171.8% in the 4th quarter. Brooklyn Investment Group now owns 2,623 shares of the company’s stock worth $54,000 after buying an additional 1,658 shares during the period. 75.45% of the stock is owned by hedge funds and other institutional investors.

About Flowers Foods

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.