Deutsche Bank Aktiengesellschaft Increases Flowers Foods (NYSE:FLO) Price Target to $23.00

Flowers Foods (NYSE:FLO) had its price target raised by stock analysts at Deutsche Bank Aktiengesellschaft from $22.00 to $23.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective points to a potential downside of 9.09% from the company’s current price.

Several other brokerages have also commented on FLO. StockNews.com upgraded shares of Flowers Foods from a “hold” rating to a “buy” rating in a research note on Tuesday, April 9th. DA Davidson assumed coverage on shares of Flowers Foods in a research note on Friday, March 1st. They issued a “neutral” rating and a $24.00 price target on the stock. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $23.75.

Flowers Foods Trading Up 0.7 %

NYSE FLO traded up $0.18 during trading hours on Thursday, reaching $25.30. The company had a trading volume of 197,712 shares, compared to its average volume of 1,172,152. The stock has a 50-day moving average of $23.55 and a 200 day moving average of $22.66. Flowers Foods has a 1-year low of $19.64 and a 1-year high of $29.10. The company has a current ratio of 1.04, a quick ratio of 0.76 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $5.34 billion, a P/E ratio of 43.64, a price-to-earnings-growth ratio of 4.71 and a beta of 0.37.

Flowers Foods (NYSE:FLO) last issued its quarterly earnings results on Friday, February 9th. The company reported $0.20 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.20. Flowers Foods had a net margin of 2.42% and a return on equity of 18.15%. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the prior year, the company earned $0.23 earnings per share. The business’s quarterly revenue was up 4.3% on a year-over-year basis. As a group, research analysts anticipate that Flowers Foods will post 1.25 earnings per share for the current fiscal year.

Insider Buying and Selling at Flowers Foods

In other news, Director Edward J. Jr. Casey purchased 5,000 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was acquired at an average price of $23.55 per share, with a total value of $117,750.00. Following the purchase, the director now directly owns 20,330 shares of the company’s stock, valued at approximately $478,771.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Terry S. Thomas sold 36,577 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $23.11, for a total transaction of $845,294.47. Following the transaction, the insider now directly owns 42,740 shares in the company, valued at approximately $987,721.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Edward J. Jr. Casey purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were bought at an average cost of $23.55 per share, with a total value of $117,750.00. Following the transaction, the director now directly owns 20,330 shares of the company’s stock, valued at approximately $478,771.50. The disclosure for this purchase can be found here. 11.42% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Flowers Foods

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Boston Trust Walden Corp grew its stake in Flowers Foods by 37.0% during the fourth quarter. Boston Trust Walden Corp now owns 4,583,334 shares of the company’s stock worth $103,171,000 after buying an additional 1,238,749 shares during the period. Norges Bank acquired a new stake in Flowers Foods in the 4th quarter valued at $26,016,000. Qube Research & Technologies Ltd acquired a new position in shares of Flowers Foods during the third quarter worth about $19,875,000. Verition Fund Management LLC lifted its stake in shares of Flowers Foods by 293.7% during the fourth quarter. Verition Fund Management LLC now owns 782,518 shares of the company’s stock worth $17,614,000 after purchasing an additional 583,749 shares in the last quarter. Finally, Ceredex Value Advisors LLC purchased a new stake in shares of Flowers Foods in the fourth quarter worth about $11,518,000. 75.45% of the stock is currently owned by institutional investors and hedge funds.

About Flowers Foods

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.