Envestnet Asset Management Inc. Sells 47,914 Shares of Flowers Foods, Inc. (NYSE:FLO)

Envestnet Asset Management Inc. decreased its stake in shares of Flowers Foods, Inc. (NYSE:FLO) by 37.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 78,877 shares of the company’s stock after selling 47,914 shares during the period. Envestnet Asset Management Inc.’s holdings in Flowers Foods were worth $1,499,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Northern Trust Corp boosted its stake in Flowers Foods by 22.0% in the fourth quarter. Northern Trust Corp now owns 1,742,145 shares of the company’s stock valued at $35,993,000 after acquiring an additional 314,670 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Flowers Foods by 163.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 266,153 shares of the company’s stock valued at $5,041,000 after purchasing an additional 165,085 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Flowers Foods in the fourth quarter valued at approximately $997,000. Principal Financial Group Inc. grew its holdings in Flowers Foods by 0.4% during the first quarter. Principal Financial Group Inc. now owns 450,199 shares of the company’s stock valued at $8,558,000 after purchasing an additional 1,841 shares during the period. Finally, Jane Street Group LLC increased its position in Flowers Foods by 193.0% in the fourth quarter. Jane Street Group LLC now owns 213,532 shares of the company’s stock worth $4,412,000 after buying an additional 140,646 shares during the last quarter. Institutional investors own 75.45% of the company’s stock.

Wall Street Analysts Forecast Growth

FLO has been the subject of several recent research reports. Wall Street Zen lowered Flowers Foods from a “buy” rating to a “hold” rating in a report on Monday, May 19th. Jefferies Financial Group reduced their target price on shares of Flowers Foods from $20.00 to $16.00 and set a “hold” rating for the company in a research note on Friday, May 16th.

Flowers Foods Price Performance

FLO opened at $15.85 on Friday. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.26 and a quick ratio of 0.89. The stock’s 50 day simple moving average is $16.17 and its 200 day simple moving average is $17.70. The firm has a market cap of $3.35 billion, a price-to-earnings ratio of 14.68 and a beta of 0.33. Flowers Foods, Inc. has a 1 year low of $15.27 and a 1 year high of $23.87.

Flowers Foods (NYSE:FLO) last announced its quarterly earnings results on Friday, May 16th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.03). Flowers Foods had a net margin of 4.49% and a return on equity of 18.91%. The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter in the prior year, the firm earned $0.38 EPS. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, analysts predict that Flowers Foods, Inc. will post 1.18 earnings per share for the current year.

Flowers Foods Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 19th. Stockholders of record on Thursday, June 5th were given a $0.2475 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $0.99 dividend on an annualized basis and a dividend yield of 6.2%. This is a boost from Flowers Foods’s previous quarterly dividend of $0.24. Flowers Foods’s payout ratio is currently 91.67%.

Insider Transactions at Flowers Foods

In other news, Director William Jameson Mcfadden acquired 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 27th. The shares were bought at an average cost of $16.92 per share, with a total value of $50,760.00. Following the transaction, the director owned 532,476 shares of the company’s stock, valued at $9,009,493.92. This trade represents a 0.57% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Thomas Caldecot Chubb III acquired 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The stock was purchased at an average price of $16.88 per share, with a total value of $50,640.00. Following the completion of the acquisition, the director owned 45,861 shares in the company, valued at $774,133.68. The trade was a 7.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 12,000 shares of company stock valued at $202,440 in the last three months. 11.57% of the stock is currently owned by company insiders.

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 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.