Van ECK Associates Corp Makes New $243,000 Investment in Flowers Foods, Inc. (NYSE:FLO)

Van ECK Associates Corp purchased a new position in shares of Flowers Foods, Inc. (NYSE:FLOGet Rating) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 9,246 shares of the company’s stock, valued at approximately $243,000.

Other hedge funds also recently bought and sold shares of the company. Nisa Investment Advisors LLC lifted its position in shares of Flowers Foods by 33.8% in the second quarter. Nisa Investment Advisors LLC now owns 52,823 shares of the company’s stock valued at $1,390,000 after acquiring an additional 13,356 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its position in shares of Flowers Foods by 7.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 265,419 shares of the company’s stock valued at $6,824,000 after acquiring an additional 18,498 shares in the last quarter. S&T Bank PA lifted its position in shares of Flowers Foods by 0.4% in the first quarter. S&T Bank PA now owns 104,026 shares of the company’s stock valued at $2,674,000 after acquiring an additional 451 shares in the last quarter. Belpointe Asset Management LLC lifted its position in shares of Flowers Foods by 11.8% in the second quarter. Belpointe Asset Management LLC now owns 8,059 shares of the company’s stock valued at $212,000 after acquiring an additional 850 shares in the last quarter. Finally, AE Wealth Management LLC lifted its position in shares of Flowers Foods by 7.8% in the first quarter. AE Wealth Management LLC now owns 22,744 shares of the company’s stock valued at $585,000 after acquiring an additional 1,646 shares in the last quarter. Hedge funds and other institutional investors own 77.15% of the company’s stock.

Insider Activity at Flowers Foods

In related news, Director Thomas Caldecot Chubb III purchased 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was purchased at an average price of $27.50 per share, with a total value of $82,500.00. Following the completion of the acquisition, the director now owns 23,051 shares in the company, valued at $633,902.50. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Flowers Foods news, CEO Ryals Mcmullian sold 143,020 shares of the firm’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $27.97, for a total transaction of $4,000,269.40. Following the completion of the sale, the chief executive officer now owns 1,781,580 shares of the company’s stock, valued at $49,830,792.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Thomas Caldecot Chubb III purchased 3,000 shares of the stock in a transaction dated Tuesday, August 23rd. The shares were purchased at an average price of $27.50 per share, with a total value of $82,500.00. Following the completion of the transaction, the director now owns 23,051 shares of the company’s stock, valued at $633,902.50. The disclosure for this purchase can be found here. Insiders own 11.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Flowers Foods from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 31st.

Flowers Foods Price Performance

NYSE:FLO opened at $28.52 on Friday. Flowers Foods, Inc. has a one year low of $24.15 and a one year high of $29.73. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.16 and a current ratio of 1.45. The stock has a market cap of $6.04 billion, a PE ratio of 28.24 and a beta of 0.38. The stock has a 50 day moving average price of $26.49 and a 200 day moving average price of $26.70.

Flowers Foods (NYSE:FLOGet Rating) last posted its quarterly earnings results on Thursday, August 11th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.27 by $0.04. Flowers Foods had a return on equity of 18.62% and a net margin of 4.75%. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter last year, the firm earned $0.32 earnings per share. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. Equities research analysts expect that Flowers Foods, Inc. will post 1.28 EPS for the current fiscal year.

Flowers Foods Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, September 2nd were issued a $0.22 dividend. The ex-dividend date was Thursday, September 1st. This represents a $0.88 annualized dividend and a dividend yield of 3.09%. Flowers Foods’s dividend payout ratio is presently 87.13%.

About Flowers Foods

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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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Institutional Ownership by Quarter for Flowers Foods (NYSE:FLO)

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