PNC Financial Services Group Inc. Has $152,000 Stock Position in Flowers Foods, Inc. $FLO

PNC Financial Services Group Inc. increased its position in Flowers Foods, Inc. (NYSE:FLO) by 18.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,985 shares of the company’s stock after purchasing an additional 1,226 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Flowers Foods were worth $152,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FLO. Fuller & Thaler Asset Management Inc. increased its position in Flowers Foods by 28.2% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 4,381,444 shares of the company’s stock worth $90,521,000 after purchasing an additional 965,097 shares during the period. Gotham Asset Management LLC boosted its holdings in Flowers Foods by 136.4% during the fourth quarter. Gotham Asset Management LLC now owns 813,886 shares of the company’s stock worth $16,815,000 after buying an additional 469,652 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Flowers Foods by 11.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,299,631 shares of the company’s stock worth $88,829,000 after buying an additional 428,963 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Flowers Foods by 3,837.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 342,067 shares of the company’s stock worth $6,503,000 after buying an additional 333,379 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Flowers Foods by 22.0% during the fourth quarter. Northern Trust Corp now owns 1,742,145 shares of the company’s stock worth $35,993,000 after buying an additional 314,670 shares during the last quarter. 75.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Jefferies Financial Group reduced their price objective on shares of Flowers Foods from $20.00 to $16.00 and set a “hold” rating on the stock in a research note on Friday, May 16th. Truist Financial reduced their price objective on shares of Flowers Foods from $20.00 to $15.00 and set a “hold” rating on the stock in a research note on Monday. DA Davidson reissued a “neutral” rating and set a $15.00 price objective on shares of Flowers Foods in a research note on Monday. Finally, Wall Street Zen lowered shares of Flowers Foods from a “buy” rating to a “hold” rating in a research note on Monday, May 19th.

Flowers Foods Trading Up 0.4%

NYSE:FLO opened at $15.75 on Tuesday. Flowers Foods, Inc. has a fifty-two week low of $15.27 and a fifty-two week high of $23.87. 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 has a market capitalization of $3.33 billion, a PE ratio of 15.14 and a beta of 0.32. The business’s 50-day simple moving average is $16.03 and its 200-day simple moving average is $17.39.

Flowers Foods (NYSE:FLO) last released its quarterly earnings data on Friday, August 15th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.01. Flowers Foods had a return on equity of 17.90% and a net margin of 4.30%. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the previous year, the business posted $0.36 EPS. Flowers Foods’s revenue for the quarter was up 1.5% on a year-over-year basis. Sell-side analysts expect that Flowers Foods, Inc. will post 1.18 earnings per share for the current fiscal year.

Flowers Foods Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 19th. Shareholders of record on Thursday, June 5th were paid a $0.2475 dividend. This represents a $0.99 annualized dividend and a yield of 6.3%. The ex-dividend date was Thursday, June 5th. This is a positive change from Flowers Foods’s previous quarterly dividend of $0.24. Flowers Foods’s dividend payout ratio (DPR) is presently 95.19%.

Insider Buying and Selling at Flowers Foods

In other news, Director Thomas Caldecot Chubb III bought 3,000 shares of the business’s stock in a transaction on Tuesday, May 27th. The shares were purchased at an average price of $16.88 per share, for a total transaction of $50,640.00. Following the purchase, the director owned 45,861 shares of the company’s stock, valued at approximately $774,133.68. The trade was a 7.00% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William Jameson Mcfadden bought 3,000 shares of the business’s stock in a transaction on Tuesday, May 27th. The stock was purchased at an average price of $16.92 per share, for a total transaction of $50,760.00. Following the purchase, the director directly owned 532,476 shares in the company, valued at approximately $9,009,493.92. This represents a 0.57% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 12,000 shares of company stock worth $202,440. Corporate insiders own 11.57% 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.