Comerica Bank Has $2.47 Million Stake in Flowers Foods, Inc. (NYSE:FLO)

Comerica Bank trimmed its stake in shares of Flowers Foods, Inc. (NYSE:FLOGet Rating) by 4.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 90,368 shares of the company’s stock after selling 4,585 shares during the period. Comerica Bank’s holdings in Flowers Foods were worth $2,467,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in FLO. New Millennium Group LLC acquired a new stake in shares of Flowers Foods during the second quarter worth $29,000. Dark Forest Capital Management LP grew its position in Flowers Foods by 28.3% in the second quarter. Dark Forest Capital Management LP now owns 1,716 shares of the company’s stock valued at $45,000 after purchasing an additional 378 shares in the last quarter. Larson Financial Group LLC bought a new position in Flowers Foods in the second quarter valued at $48,000. Wipfli Financial Advisors LLC bought a new position in Flowers Foods in the third quarter valued at $81,000. Finally, EverSource Wealth Advisors LLC bought a new position in Flowers Foods in the second quarter valued at $104,000. 66.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FLO has been the subject of a number of analyst reports. StockNews.com downgraded shares of Flowers Foods from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 25th. Deutsche Bank Aktiengesellschaft downgraded shares of Flowers Foods from a “hold” rating to a “sell” rating and decreased their price objective for the company from $28.00 to $27.00 in a research report on Tuesday, December 6th.

Flowers Foods Stock Performance

Shares of FLO opened at $27.03 on Thursday. The firm has a 50-day moving average of $28.83 and a 200-day moving average of $27.64. Flowers Foods, Inc. has a one year low of $24.15 and a one year high of $30.16. The company has a market cap of $5.71 billion, a PE ratio of 26.50 and a beta of 0.39. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.41 and a quick ratio of 1.12.

Flowers Foods (NYSE:FLOGet Rating) last announced its quarterly earnings data on Thursday, November 10th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.02. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.14 billion. Flowers Foods had a net margin of 4.66% and a return on equity of 18.53%. As a group, equities analysts forecast that Flowers Foods, Inc. will post 1.28 earnings per share for the current year.

Flowers Foods Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 16th. Investors of record on Friday, December 2nd were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend was Thursday, December 1st. Flowers Foods’s payout ratio is 86.28%.

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.

See Also

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

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