LPL Financial LLC decreased its position in shares of Flowers Foods, Inc. (NYSE:FLO – Free Report) by 1.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 46,662 shares of the company’s stock after selling 738 shares during the period. LPL Financial LLC’s holdings in Flowers Foods were worth $1,161,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in FLO. Fortis Capital Advisors LLC bought a new position in Flowers Foods during the 4th quarter worth $30,000. Altshuler Shaham Ltd bought a new position in Flowers Foods during the 1st quarter worth $41,000. EverSource Wealth Advisors LLC increased its position in Flowers Foods by 313.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,098 shares of the company’s stock worth $58,000 after buying an additional 1,591 shares during the period. CWM LLC increased its position in Flowers Foods by 18.8% during the 1st quarter. CWM LLC now owns 2,314 shares of the company’s stock worth $63,000 after buying an additional 367 shares during the period. Finally, First Manhattan CO. LLC. increased its position in Flowers Foods by 1,475.9% during the 1st quarter. First Manhattan CO. LLC. now owns 4,050 shares of the company’s stock worth $111,000 after buying an additional 3,793 shares during the period. Institutional investors own 78.55% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages recently commented on FLO. StockNews.com cut Flowers Foods from a “buy” rating to a “hold” rating in a research report on Wednesday. Stephens restated an “equal weight” rating and issued a $25.00 price target on shares of Flowers Foods in a research report on Friday, August 11th. TheStreet cut Flowers Foods from a “b-” rating to a “c+” rating in a research report on Monday, October 16th. Finally, Truist Financial decreased their price target on Flowers Foods from $25.00 to $23.00 and set a “hold” rating on the stock in a research report on Monday. Four equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $24.00.
Flowers Foods Stock Down 1.2 %
Shares of NYSE FLO opened at $20.84 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.76. The company has a market cap of $4.40 billion, a price-to-earnings ratio of 32.56, a PEG ratio of 12.13 and a beta of 0.46. Flowers Foods, Inc. has a 12 month low of $19.64 and a 12 month high of $30.16. The stock has a 50-day moving average price of $21.93 and a two-hundred day moving average price of $24.05.
Flowers Foods (NYSE:FLO – Get Free Report) last issued its earnings results on Thursday, November 9th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.28 by $0.01. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.21 billion. Flowers Foods had a return on equity of 18.27% and a net margin of 2.70%. The business’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.30 earnings per share. As a group, analysts forecast that Flowers Foods, Inc. will post 1.22 earnings per share for the current fiscal year.
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 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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