BlackRock Inc. increased its position in shares of Flowers Foods, Inc. (NYSE:FLO) by 2.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 16,893,384 shares of the company’s stock after purchasing an additional 375,717 shares during the quarter. BlackRock Inc. owned about 0.08% of Flowers Foods worth $393,109,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Creative Planning lifted its holdings in Flowers Foods by 30.0% during the 2nd quarter. Creative Planning now owns 13,292 shares of the company’s stock worth $309,000 after purchasing an additional 3,064 shares during the last quarter. Prudential Financial Inc. increased its stake in Flowers Foods by 236.4% during the 2nd quarter. Prudential Financial Inc. now owns 391,856 shares of the company’s stock worth $9,118,000 after acquiring an additional 275,360 shares during the period. Envestnet Asset Management Inc. increased its stake in Flowers Foods by 241.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 170,492 shares of the company’s stock worth $3,967,000 after acquiring an additional 120,617 shares during the period. Summit Global Investments increased its stake in Flowers Foods by 26.1% during the 2nd quarter. Summit Global Investments now owns 374,065 shares of the company’s stock worth $8,704,000 after acquiring an additional 77,411 shares during the period. Finally, Commonwealth Bank of Australia increased its stake in Flowers Foods by 37.0% during the 2nd quarter. Commonwealth Bank of Australia now owns 27,400 shares of the company’s stock worth $637,000 after acquiring an additional 7,400 shares during the period. 64.41% of the stock is owned by institutional investors and hedge funds.
Flowers Foods stock opened at $21.22 on Thursday. The stock’s fifty day moving average price is $21.96 and its two-hundred day moving average price is $22.65. Flowers Foods, Inc. has a one year low of $17.78 and a one year high of $24.35. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.08 and a quick ratio of 0.83. The firm has a market cap of $4.42 billion, a PE ratio of 22.57 and a beta of 0.38.
A number of research firms have commented on FLO. Shore Capital restated a “buy” rating on shares of Flowers Foods in a research note on Tuesday, October 22nd. ValuEngine lowered Flowers Foods from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. DA Davidson lowered their price objective on Flowers Foods from $23.00 to $21.00 and set a “neutral” rating on the stock in a research note on Tuesday. FinnCap restated a “corporate” rating on shares of Flowers Foods in a research note on Tuesday, October 22nd. Finally, Zacks Investment Research upgraded Flowers Foods from a “sell” rating to a “hold” rating and set a $24.00 price objective on the stock in a research note on Thursday, September 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $20.33.
About Flowers Foods
Flowers Foods, Inc produces and markets bakery products in the United States. The company operates through two segments, Direct-Store-Delivery and Warehouse Delivery. The Direct-Store-Delivery segment produces and markets fresh breads, buns, rolls, tortillas, and snack cakes. This segment offers its products primarily under the Nature's Own, Dave's Killer Bread, Tastykake, Wonder, and Cobblestone Bread Company brand names.
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