Allspring Global Investments Holdings LLC Raises Stake in Flowers Foods, Inc. (NYSE:FLO)

Allspring Global Investments Holdings LLC increased its stake in shares of Flowers Foods, Inc. (NYSE:FLO) by 64.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,082,210 shares of the company’s stock after purchasing an additional 425,988 shares during the period. Allspring Global Investments Holdings LLC owned 0.51% of Flowers Foods worth $24,361,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Fortis Capital Advisors LLC purchased a new stake in shares of Flowers Foods in the 4th quarter valued at about $30,000. HM Payson & Co. purchased a new stake in shares of Flowers Foods in the 3rd quarter valued at about $30,000. NBC Securities Inc. purchased a new stake in shares of Flowers Foods in the 3rd quarter valued at about $32,000. Gladius Capital Management LP raised its holdings in shares of Flowers Foods by 46.4% in the 3rd quarter. Gladius Capital Management LP now owns 1,539 shares of the company’s stock valued at $35,000 after acquiring an additional 488 shares in the last quarter. Finally, First Manhattan CO. LLC. raised its holdings in shares of Flowers Foods by 1,475.9% in the 1st quarter. First Manhattan CO. LLC. now owns 4,050 shares of the company’s stock valued at $111,000 after acquiring an additional 3,793 shares in the last quarter. Hedge funds and other institutional investors own 75.45% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. StockNews.com raised Flowers Foods from a “hold” rating to a “buy” rating in a report on Tuesday, April 9th. DA Davidson assumed coverage on Flowers Foods in a report on Friday, March 1st. They set a “neutral” rating and a $24.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Flowers Foods has a consensus rating of “Hold” and an average target price of $24.00.

Flowers Foods Stock Performance

Shares of NYSE FLO opened at $22.62 on Friday. The stock’s 50-day moving average is $22.91 and its 200 day moving average is $22.26. The company has a current ratio of 1.04, a quick ratio of 0.76 and a debt-to-equity ratio of 0.78. Flowers Foods, Inc. has a 1-year low of $19.64 and a 1-year high of $29.10. The stock has a market cap of $4.78 billion, a price-to-earnings ratio of 39.00, a P/E/G ratio of 4.31 and a beta of 0.39.

Flowers Foods (NYSE:FLO) last posted its quarterly earnings results on Friday, February 9th. The company reported $0.20 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.20. Flowers Foods had a return on equity of 18.15% and a net margin of 2.42%. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period last year, the company earned $0.23 EPS. Flowers Foods’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Flowers Foods, Inc. will post 1.25 EPS for the current fiscal year.

Flowers Foods Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $0.23 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.07%. Flowers Foods’s dividend payout ratio is currently 158.62%.

Insider Transactions at Flowers Foods

In other Flowers Foods news, Director Edward J. Jr. Casey acquired 5,000 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were purchased at an average cost of $23.55 per share, for a total transaction of $117,750.00. Following the transaction, the director now owns 20,330 shares in the company, valued at $478,771.50. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Terry S. Thomas sold 36,577 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $23.11, for a total value of $845,294.47. Following the completion of the transaction, the insider now owns 42,740 shares in the company, valued at approximately $987,721.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Edward J. Jr. Casey bought 5,000 shares of the stock in a transaction dated Tuesday, April 2nd. The stock was purchased at an average price of $23.55 per share, with a total value of $117,750.00. Following the purchase, the director now owns 20,330 shares in the company, valued at $478,771.50. The disclosure for this purchase can be found here. Corporate insiders own 11.49% of the company’s stock.

Flowers Foods Profile

Flowers Foods, Inc produces and markets packaged bakery food products in the United States. Its principal products include fresh breads, buns, rolls, snack items, bagels, English muffins, and tortillas, as well as frozen breads and rolls under the Nature's Own, Dave's Killer Bread, Wonder, Canyon Bakehouse, Mrs.