Flowers Foods (NYSE:FLO) Raised to Buy at StockNews.com

Flowers Foods (NYSE:FLOGet Rating) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Monday.

Separately, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Flowers Foods from $27.00 to $26.00 in a report on Monday.

Shares of FLO traded down $0.39 during midday trading on Monday, hitting $26.11. 1,719,239 shares of the stock traded hands, compared to its average volume of 1,707,231. Flowers Foods has a 1-year low of $22.61 and a 1-year high of $29.73. The firm has a market capitalization of $5.54 billion, a PE ratio of 25.60 and a beta of 0.23. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.18 and a current ratio of 1.44. The business’s 50 day moving average price is $26.32 and its two-hundred day moving average price is $26.88.

Flowers Foods (NYSE:FLOGet Rating) last announced its quarterly earnings results on Thursday, May 19th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.05. Flowers Foods had a net margin of 4.93% and a return on equity of 19.12%. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the previous year, the company posted $0.41 earnings per share. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. As a group, equities research analysts forecast that Flowers Foods will post 1.28 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. lifted its holdings in Flowers Foods by 2.7% in the fourth quarter. BlackRock Inc. now owns 18,676,554 shares of the company’s stock worth $513,047,000 after purchasing an additional 499,654 shares during the period. Wellington Shields Capital Management LLC lifted its holdings in Flowers Foods by 322.1% in the first quarter. Wellington Shields Capital Management LLC now owns 14,210,765 shares of the company’s stock worth $365,359,000 after purchasing an additional 10,843,744 shares during the period. Wellington Shields & Co. LLC lifted its holdings in Flowers Foods by 28,270.0% in the fourth quarter. Wellington Shields & Co. LLC now owns 6,553,181 shares of the company’s stock worth $180,016,000 after purchasing an additional 6,530,082 shares during the period. Renaissance Technologies LLC lifted its holdings in Flowers Foods by 8.1% in the first quarter. Renaissance Technologies LLC now owns 5,999,785 shares of the company’s stock worth $154,254,000 after purchasing an additional 450,441 shares during the period. Finally, State Street Corp lifted its holdings in Flowers Foods by 4.5% in the first quarter. State Street Corp now owns 5,595,570 shares of the company’s stock worth $143,862,000 after purchasing an additional 243,369 shares during the period. 71.99% of the stock is owned by institutional investors and hedge funds.

Flowers Foods Company Profile (Get Rating)

Flowers Foods, Inc produces and markets packaged bakery products in the United States. It offers 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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