Allianz Asset Management GmbH Lowers Stake in Flowers Foods, Inc. $FLO

Allianz Asset Management GmbH cut its stake in Flowers Foods, Inc. (NYSE:FLO) by 56.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 199,832 shares of the company’s stock after selling 257,117 shares during the period. Allianz Asset Management GmbH owned about 0.09% of Flowers Foods worth $2,608,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in FLO. Elevation Point Wealth Partners LLC purchased a new stake in Flowers Foods in the second quarter worth approximately $28,000. Quent Capital LLC bought a new stake in shares of Flowers Foods in the 3rd quarter valued at about $30,000. Private Trust Co. NA grew its position in Flowers Foods by 103.8% during the 2nd quarter. Private Trust Co. NA now owns 1,932 shares of the company’s stock worth $31,000 after acquiring an additional 984 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of Flowers Foods by 860.2% during the second quarter. IFP Advisors Inc now owns 1,978 shares of the company’s stock valued at $32,000 after purchasing an additional 1,772 shares during the period. Finally, Wilmington Savings Fund Society FSB increased its stake in shares of Flowers Foods by 271.4% in the third quarter. Wilmington Savings Fund Society FSB now owns 2,737 shares of the company’s stock worth $36,000 after buying an additional 2,000 shares during the period. Hedge funds and other institutional investors own 75.45% of the company’s stock.

Flowers Foods Trading Down 0.9%

Shares of NYSE:FLO opened at $11.71 on Thursday. The stock’s 50-day simple moving average is $10.99 and its two-hundred day simple moving average is $12.57. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of 12.72 and a beta of 0.33. Flowers Foods, Inc. has a 52-week low of $9.93 and a 52-week high of $20.23. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.57 and a current ratio of 0.79.

Flowers Foods Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, November 28th were paid a dividend of $0.2475 per share. The ex-dividend date was Friday, November 28th. This represents a $0.99 dividend on an annualized basis and a dividend yield of 8.5%. Flowers Foods’s payout ratio is presently 107.61%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on FLO shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Flowers Foods in a report on Thursday, January 22nd. Truist Financial cut their target price on shares of Flowers Foods from $15.00 to $10.00 and set a “hold” rating on the stock in a research note on Thursday, November 13th. Finally, Zacks Research raised shares of Flowers Foods from a “strong sell” rating to a “hold” rating in a research note on Monday, January 26th. Four research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $13.67.

Insider Activity

In related news, CEO Ryals Mcmullian sold 209,000 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $10.87, for a total value of $2,271,830.00. Following the transaction, the chief executive officer owned 1,022,380 shares in the company, valued at approximately $11,113,270.60. This represents a 16.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 11.57% of the stock is currently owned by insiders.

About Flowers Foods

Flowers Foods, Inc is one of the largest producers of packaged bakery foods in the United States, offering a variety of fresh bread, buns, rolls, snack cakes and tortillas. Headquartered in Thomasville, Georgia, the company operates an extensive network of bakeries and distribution centers that serve retail grocery chains, convenience stores, mass merchandisers and foodservice customers nationwide. Flowers Foods markets its products under well-known brands such as Nature’s Own, Wonder, Dave’s Killer Bread, Mrs.