Flowers Foods, Inc. (NYSE:FLO) Receives $24.00 Average PT from Brokerages

Shares of Flowers Foods, Inc. (NYSE:FLO) have earned an average recommendation of “Hold” from the four research firms that are currently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $24.00.

FLO has been the subject of a number of recent analyst reports. DA Davidson boosted their price target on shares of Flowers Foods from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, May 17th. Deutsche Bank Aktiengesellschaft boosted their target price on Flowers Foods from $22.00 to $23.00 and gave the stock a “hold” rating in a research report on Thursday, May 9th. Finally, StockNews.com raised Flowers Foods from a “hold” rating to a “buy” rating in a report on Saturday, May 25th.

Flowers Foods Stock Performance

Shares of FLO opened at $22.20 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.11 and a quick ratio of 0.82. The firm has a market cap of $4.69 billion, a PE ratio of 37.63, a PEG ratio of 5.72 and a beta of 0.37. Flowers Foods has a 1 year low of $19.64 and a 1 year high of $26.33. The stock’s fifty day moving average price is $23.76 and its two-hundred day moving average price is $23.16.

Flowers Foods (NYSE:FLO) last posted its quarterly earnings results on Thursday, May 16th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.02). The business had revenue of $1.58 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 2.8% on a year-over-year basis. During the same period last year, the firm earned $0.38 EPS. On average, equities research analysts forecast that Flowers Foods will post 1.23 EPS for the current year.

Flowers Foods Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th were given a $0.24 dividend. This is a positive change from Flowers Foods’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date of this dividend was Thursday, June 6th. Flowers Foods’s dividend payout ratio (DPR) is currently 162.71%.

Insider Transactions at Flowers Foods

In other news, Director Edward J. Jr. Casey acquired 5,000 shares of the stock in a transaction on Tuesday, April 2nd. The stock was acquired at an average price of $23.55 per share, with a total value of $117,750.00. Following the completion of the transaction, the director now owns 20,330 shares of the company’s stock, valued at approximately $478,771.50. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 11.42% of the company’s stock.

Hedge Funds Weigh In On Flowers Foods

Hedge funds have recently bought and sold shares of the company. Keynote Financial Services LLC purchased a new stake in Flowers Foods during the 1st quarter valued at $224,000. Bayesian Capital Management LP purchased a new stake in shares of Flowers Foods during the first quarter valued at $581,000. Seven Eight Capital LP increased its holdings in Flowers Foods by 254.1% in the 1st quarter. Seven Eight Capital LP now owns 38,431 shares of the company’s stock worth $913,000 after buying an additional 27,577 shares in the last quarter. Edgestream Partners L.P. raised its position in Flowers Foods by 3.1% in the 1st quarter. Edgestream Partners L.P. now owns 206,126 shares of the company’s stock worth $4,895,000 after buying an additional 6,279 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its stake in Flowers Foods by 10.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 247,530 shares of the company’s stock valued at $5,879,000 after acquiring an additional 24,192 shares during the period. Institutional investors own 75.45% of the company’s stock.

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.