Alps Advisors Inc. Trims Stake in Flowers Foods, Inc. $FLO

Alps Advisors Inc. reduced its holdings in Flowers Foods, Inc. (NYSE:FLO) by 24.6% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 158,165 shares of the company’s stock after selling 51,466 shares during the quarter. Alps Advisors Inc. owned 0.07% of Flowers Foods worth $2,064,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Securian Asset Management Inc. increased its position in shares of Flowers Foods by 5.7% in the third quarter. Securian Asset Management Inc. now owns 15,812 shares of the company’s stock worth $206,000 after purchasing an additional 859 shares during the last quarter. Aviance Capital Partners LLC grew its stake in Flowers Foods by 9.1% in the 2nd quarter. Aviance Capital Partners LLC now owns 11,296 shares of the company’s stock worth $181,000 after buying an additional 939 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV increased its holdings in shares of Flowers Foods by 8.6% in the 3rd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 12,025 shares of the company’s stock worth $157,000 after buying an additional 950 shares during the last quarter. Private Trust Co. NA increased its holdings in shares of Flowers Foods by 103.8% in the 2nd quarter. Private Trust Co. NA now owns 1,932 shares of the company’s stock worth $31,000 after buying an additional 984 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its position in shares of Flowers Foods by 64.4% during the 2nd quarter. Geneos Wealth Management Inc. now owns 2,555 shares of the company’s stock valued at $41,000 after buying an additional 1,001 shares in the last quarter. Institutional investors own 75.45% of the company’s stock.

Flowers Foods Trading Down 0.2%

NYSE:FLO opened at $11.80 on Wednesday. The firm has a market capitalization of $2.49 billion, a P/E ratio of 12.83 and a beta of 0.33. The company has a quick ratio of 0.57, a current ratio of 0.79 and a debt-to-equity ratio of 0.97. The company has a fifty day moving average of $10.98 and a 200 day moving average of $12.58. Flowers Foods, Inc. has a 52 week low of $9.93 and a 52 week high of $20.23.

Flowers Foods Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Friday, November 28th were issued a dividend of $0.2475 per share. This represents a $0.99 dividend on an annualized basis and a yield of 8.4%. The ex-dividend date was Friday, November 28th. Flowers Foods’s payout ratio is currently 107.61%.

Wall Street Analyst Weigh In

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

Insider Transactions at Flowers Foods

In other Flowers Foods news, CEO Ryals Mcmullian sold 209,000 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $10.87, for a total transaction of $2,271,830.00. Following the completion of the transaction, the chief executive officer owned 1,022,380 shares of the company’s stock, valued at $11,113,270.60. This represents a 16.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 11.57% of the stock is currently owned by corporate 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.