Flowers Foods, Inc. (NYSE:FLO) Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. increased its stake in Flowers Foods, Inc. (NYSE:FLOFree Report) by 13.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,092 shares of the company’s stock after purchasing an additional 1,453 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Flowers Foods were worth $272,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Financial Connections Group Inc. acquired a new stake in shares of Flowers Foods in the 4th quarter worth approximately $30,000. Gladius Capital Management LP increased its position in shares of Flowers Foods by 46.4% during the 3rd quarter. Gladius Capital Management LP now owns 1,539 shares of the company’s stock valued at $34,000 after purchasing an additional 488 shares during the period. GAMMA Investing LLC bought a new stake in shares of Flowers Foods in the 4th quarter worth $34,000. Jones Financial Companies Lllp acquired a new stake in shares of Flowers Foods in the fourth quarter valued at $39,000. Finally, Tennessee Valley Asset Management Partners acquired a new stake in shares of Flowers Foods in the fourth quarter valued at $50,000. Institutional investors own 75.45% of the company’s stock.

Insider Buying and Selling

In other Flowers Foods news, Director Edward J. Jr. Casey bought 5,000 shares of the stock in a transaction on Tuesday, April 2nd. The shares were bought at an average price of $23.55 per share, with a total value of $117,750.00. Following the purchase, the director now directly owns 20,330 shares in the company, valued at approximately $478,771.50. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 11.42% of the company’s stock.

Flowers Foods Price Performance

FLO stock opened at $22.20 on Monday. Flowers Foods, Inc. has a one year low of $19.64 and a one year high of $26.33. The firm has a 50-day moving average of $23.76 and a two-hundred day moving average of $23.16. The firm has a market capitalization of $4.69 billion, a PE ratio of 37.63, a P/E/G ratio of 5.72 and a beta of 0.37. The company has a current ratio of 1.11, a quick ratio of 0.82 and a debt-to-equity ratio of 0.76.

Flowers Foods (NYSE:FLOGet Free Report) last issued its quarterly earnings results on Thursday, May 16th. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.02). Flowers Foods had a net margin of 2.45% and a return on equity of 18.35%. The firm had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter last year, the company posted $0.38 EPS. The firm’s revenue was up 2.8% compared to the same quarter last year. On average, analysts forecast that Flowers Foods, Inc. will post 1.23 earnings per share for the current year.

Flowers Foods Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th were issued a dividend of $0.24 per share. This is an increase from Flowers Foods’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.32%. Flowers Foods’s payout ratio is currently 162.71%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. StockNews.com raised shares of Flowers Foods from a “hold” rating to a “buy” rating in a report on Saturday, May 25th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Flowers Foods from $22.00 to $23.00 and gave the company a “hold” rating in a research note on Thursday, May 9th. Finally, DA Davidson lifted their price target on shares of Flowers Foods from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, May 17th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Flowers Foods presently has a consensus rating of “Hold” and a consensus target price of $24.00.

Read Our Latest Stock Analysis on Flowers Foods

About Flowers Foods

(Free Report)

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.

Further Reading

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

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