Envestnet Asset Management Inc. Has $2.62 Million Stock Holdings in Flowers Foods, Inc. (NYSE:FLO)

Envestnet Asset Management Inc. reduced its holdings in shares of Flowers Foods, Inc. (NYSE:FLO) by 10.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 126,791 shares of the company’s stock after selling 14,422 shares during the period. Envestnet Asset Management Inc. owned about 0.06% of Flowers Foods worth $2,619,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in FLO. Vanguard Group Inc. raised its holdings in shares of Flowers Foods by 2.3% in the 4th quarter. Vanguard Group Inc. now owns 22,737,981 shares of the company’s stock worth $469,767,000 after buying an additional 518,745 shares in the last quarter. Geode Capital Management LLC grew its position in Flowers Foods by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 4,219,943 shares of the company’s stock worth $87,205,000 after acquiring an additional 60,867 shares during the last quarter. Norges Bank acquired a new stake in shares of Flowers Foods in the fourth quarter valued at $42,591,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of Flowers Foods by 6.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,066,470 shares of the company’s stock valued at $22,033,000 after buying an additional 67,750 shares during the last quarter. Finally, California Public Employees Retirement System lifted its position in Flowers Foods by 1.8% during the 4th quarter. California Public Employees Retirement System now owns 919,272 shares of the company’s stock worth $18,992,000 after buying an additional 16,690 shares in the last quarter. Institutional investors and hedge funds own 75.45% of the company’s stock.

Flowers Foods Stock Performance

Shares of Flowers Foods stock opened at $17.83 on Friday. Flowers Foods, Inc. has a 52 week low of $17.33 and a 52 week high of $26.12. The firm has a fifty day moving average of $18.58 and a two-hundred day moving average of $20.16. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.95 and a current ratio of 1.20. The stock has a market capitalization of $3.76 billion, a price-to-earnings ratio of 15.24, a PEG ratio of 8.72 and a beta of 0.40.

Flowers Foods (NYSE:FLO) last posted its earnings results on Friday, February 7th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.01. Flowers Foods had a return on equity of 19.48% and a net margin of 4.86%. During the same quarter last year, the company posted $0.20 earnings per share. As a group, equities research analysts predict that Flowers Foods, Inc. will post 1.18 EPS for the current year.

Flowers Foods Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.24 per share. The ex-dividend date was Friday, February 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.38%. Flowers Foods’s dividend payout ratio is 82.05%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on FLO. DA Davidson lowered their price objective on shares of Flowers Foods from $24.00 to $21.00 and set a “neutral” rating for the company in a research report on Monday, February 10th. Truist Financial decreased their price target on shares of Flowers Foods from $23.00 to $20.00 and set a “hold” rating on the stock in a research note on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Flowers Foods presently has an average rating of “Hold” and a consensus price target of $21.00.

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.