Mackenzie Financial Corp Has $668,000 Position in Flowers Foods, Inc. (NYSE:FLO)

Mackenzie Financial Corp raised its stake in shares of Flowers Foods, Inc. (NYSE:FLO) by 20.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,163 shares of the company’s stock after buying an additional 5,876 shares during the quarter. Mackenzie Financial Corp’s holdings in Flowers Foods were worth $668,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Moran Wealth Management LLC grew its position in shares of Flowers Foods by 0.3% in the 1st quarter. Moran Wealth Management LLC now owns 191,278 shares of the company’s stock valued at $3,636,000 after purchasing an additional 570 shares during the period. State of Alaska Department of Revenue grew its position in shares of Flowers Foods by 2.0% in the 1st quarter. State of Alaska Department of Revenue now owns 31,837 shares of the company’s stock valued at $604,000 after purchasing an additional 620 shares during the period. Mariner LLC grew its position in shares of Flowers Foods by 1.0% in the 4th quarter. Mariner LLC now owns 112,027 shares of the company’s stock valued at $2,314,000 after purchasing an additional 1,089 shares during the period. Cetera Investment Advisers grew its position in shares of Flowers Foods by 8.9% in the 4th quarter. Cetera Investment Advisers now owns 13,433 shares of the company’s stock valued at $278,000 after purchasing an additional 1,101 shares during the period. Finally, LPL Financial LLC boosted its position in Flowers Foods by 3.3% during the 4th quarter. LPL Financial LLC now owns 36,133 shares of the company’s stock worth $747,000 after acquiring an additional 1,148 shares during the last quarter. 75.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Flowers Foods

In related news, Director George E. Deese acquired 6,000 shares of the company’s stock in a transaction dated Tuesday, May 27th. The shares were bought at an average price of $16.84 per share, for a total transaction of $101,040.00. Following the purchase, the director directly owned 2,004,990 shares in the company, valued at approximately $33,764,031.60. This trade represents a 0.30% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William Jameson Mcfadden acquired 3,000 shares of the company’s stock in a transaction dated Tuesday, May 27th. The shares were bought at an average price of $16.92 per share, for a total transaction of $50,760.00. Following the purchase, the director owned 532,476 shares in the company, valued at approximately $9,009,493.92. This represents a 0.57% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 12,000 shares of company stock worth $202,440 in the last 90 days. Corporate insiders own 11.57% of the company’s stock.

Flowers Foods Trading Down 0.8%

NYSE:FLO opened at $15.96 on Thursday. Flowers Foods, Inc. has a twelve month low of $15.27 and a twelve month high of $23.87. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 1.26. The business has a 50 day moving average price of $16.11 and a two-hundred day moving average price of $17.61. The company has a market cap of $3.37 billion, a P/E ratio of 14.77 and a beta of 0.32.

Flowers Foods (NYSE:FLO) last announced its quarterly earnings data 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 return on equity of 18.91% and a net margin of 4.49%. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the prior year, the company earned $0.38 EPS. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, analysts expect that Flowers Foods, Inc. will post 1.18 EPS for the current fiscal year.

Flowers Foods Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 19th. Stockholders of record on Thursday, June 5th were paid a dividend of $0.2475 per share. The ex-dividend date was Thursday, June 5th. This represents a $0.99 dividend on an annualized basis and a dividend yield of 6.2%. This is an increase from Flowers Foods’s previous quarterly dividend of $0.24. Flowers Foods’s dividend payout ratio (DPR) is currently 91.67%.

Analyst Upgrades and Downgrades

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

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.