Schwab Charles Investment Management Inc. boosted its stake in shares of Flowers Foods, Inc. (NYSE:FLO) by 14.6% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,940,432 shares of the company’s stock after purchasing an additional 246,581 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Flowers Foods were worth $42,418,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in FLO. Truewealth LLC acquired a new stake in Flowers Foods during the 4th quarter worth about $119,000. Advisor Group Inc. grew its position in Flowers Foods by 77.8% during the 4th quarter. Advisor Group Inc. now owns 6,831 shares of the company’s stock worth $132,000 after purchasing an additional 2,990 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Flowers Foods by 48.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,976 shares of the company’s stock worth $193,000 after acquiring an additional 3,266 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of Flowers Foods during the 4th quarter worth about $195,000. Finally, Franklin Resources Inc. purchased a new stake in shares of Flowers Foods during the 4th quarter worth about $203,000. 66.27% of the stock is currently owned by institutional investors.
Get Flowers Foods alerts:Several research firms have recently issued reports on FLO. Zacks Investment Research lowered shares of Flowers Foods from a “hold” rating to a “sell” rating in a research note on Thursday, February 8th. TheStreet raised shares of Flowers Foods from a “c+” rating to a “b” rating in a research note on Wednesday, February 7th. ValuEngine raised shares of Flowers Foods from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Jefferies Group reissued a “hold” rating and set a $19.00 target price on shares of Flowers Foods in a research note on Thursday, May 17th. Finally, Deutsche Bank set a $24.00 target price on shares of Flowers Foods and gave the stock a “hold” rating in a research note on Tuesday, April 17th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Flowers Foods has a consensus rating of “Hold” and a consensus price target of $22.00.
In related news, insider David M. Roach sold 10,500 shares of the firm’s stock in a transaction dated Tuesday, March 27th. The shares were sold at an average price of $21.11, for a total value of $221,655.00. Following the transaction, the insider now directly owns 67,801 shares of the company’s stock, valued at approximately $1,431,279.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 15.20% of the company’s stock.
Shares of Flowers Foods stock opened at $19.49 on Wednesday. The stock has a market capitalization of $4.09 billion, a P/E ratio of 21.90, a P/E/G ratio of 2.02 and a beta of 0.67. Flowers Foods, Inc. has a twelve month low of $16.80 and a twelve month high of $22.82. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.13 and a current ratio of 1.43.
Flowers Foods (NYSE:FLO) last issued its quarterly earnings results on Wednesday, May 16th. The company reported $0.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.01). The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Flowers Foods had a net margin of 3.58% and a return on equity of 15.87%. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.25 earnings per share. sell-side analysts forecast that Flowers Foods, Inc. will post 1.07 EPS for the current year.
About Flowers Foods
Flowers Foods, Inc produces and markets bakery products in the United States. It operates through two segments, Direct-Store-Delivery (DSD) and Warehouse Delivery. The DSD segment produces and markets fresh breads, buns, rolls, tortillas, and snack cakes. This segment offers its products primarily under the Nature's Own, Wonder, Cobblestone Bread Company, Tastykake, and Dave's Killer Bread brand names.
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