Flowers Foods (NYSE:FLO) Announces Quarterly Earnings Results, Hits Estimates

Flowers Foods (NYSE:FLOGet Free Report) issued its quarterly earnings data on Friday. The company reported $0.20 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.20, Briefing.com reports. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Flowers Foods had a net margin of 2.42% and a return on equity of 17.89%. The company’s revenue was up 4.3% on a year-over-year basis. During the same period last year, the company posted $0.23 EPS.

Flowers Foods Trading Down 5.1 %

Shares of NYSE FLO traded down $1.20 during trading on Friday, hitting $22.19. 3,031,631 shares of the company traded hands, compared to its average volume of 1,012,262. Flowers Foods has a 1 year low of $19.64 and a 1 year high of $29.10. The company has a 50-day moving average price of $22.54 and a 200-day moving average price of $22.57. The firm has a market capitalization of $4.68 billion, a P/E ratio of 38.26, a P/E/G ratio of 9.97 and a beta of 0.40. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.76.

Flowers Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were paid a dividend of $0.23 per share. The ex-dividend date was Thursday, November 30th. This represents a $0.92 annualized dividend and a dividend yield of 4.15%. Flowers Foods’s dividend payout ratio is presently 158.62%.

Analyst Ratings Changes

Several research firms have commented on FLO. Truist Financial lowered their target price on shares of Flowers Foods from $25.00 to $23.00 and set a “hold” rating for the company in a research note on Monday, November 13th. StockNews.com raised shares of Flowers Foods from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, TheStreet cut shares of Flowers Foods from a “b-” rating to a “c+” rating in a research note on Monday, October 16th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $24.00.

Read Our Latest Stock Report on FLO

Insider Activity

In related news, CFO R Steve Kinsey acquired 1,780 shares of the stock in a transaction dated Wednesday, December 20th. The stock was bought at an average cost of $22.46 per share, with a total value of $39,978.80. Following the purchase, the chief financial officer now directly owns 399,520 shares of the company’s stock, valued at $8,973,219.20. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Flowers Foods news, CEO Ryals Mcmullian bought 9,100 shares of Flowers Foods stock in a transaction that occurred on Monday, December 18th. The shares were acquired at an average price of $21.99 per share, for a total transaction of $200,109.00. Following the acquisition, the chief executive officer now owns 849,028 shares of the company’s stock, valued at approximately $18,670,125.72. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CFO R Steve Kinsey bought 1,780 shares of Flowers Foods stock in a transaction that occurred on Wednesday, December 20th. The shares were acquired at an average price of $22.46 per share, for a total transaction of $39,978.80. Following the acquisition, the chief financial officer now directly owns 399,520 shares in the company, valued at approximately $8,973,219.20. The disclosure for this purchase can be found here. Corporate insiders own 11.49% of the company’s stock.

Hedge Funds Weigh In On Flowers Foods

Hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp lifted its holdings in Flowers Foods by 206.0% in the 1st quarter. State Street Corp now owns 17,286,504 shares of the company’s stock worth $473,823,000 after buying an additional 11,637,370 shares in the last quarter. Norges Bank acquired a new position in Flowers Foods in the 4th quarter worth $38,880,000. Arrowstreet Capital Limited Partnership lifted its holdings in Flowers Foods by 73.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,383,121 shares of the company’s stock worth $65,321,000 after buying an additional 1,010,211 shares in the last quarter. Morgan Stanley lifted its holdings in Flowers Foods by 84.0% in the 4th quarter. Morgan Stanley now owns 2,165,440 shares of the company’s stock worth $62,235,000 after buying an additional 988,809 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Flowers Foods by 14.6% in the 1st quarter. Renaissance Technologies LLC now owns 5,464,185 shares of the company’s stock worth $149,773,000 after buying an additional 694,882 shares in the last quarter. Institutional investors and hedge funds own 78.55% of the company’s stock.

Flowers Foods Company Profile

(Get Free Report)

Flowers Foods, Inc produces and markets packaged bakery food products in the United States. Its principal products include fresh breads, buns, rolls, snack cakes, and tortillas, as well as frozen breads and rolls under the Nature's Own, Dave's Killer Bread, Wonder, Canyon Bakehouse, Mrs. Freshley's, and Tastykake brand names.

See Also

Earnings History for Flowers Foods (NYSE:FLO)

Receive News & Ratings for Flowers Foods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flowers Foods and related companies with MarketBeat.com's FREE daily email newsletter.