Todays Report: Today, BlackRock Advisors LLC cuts its investment of stake in Flowers Foods Inc. (FLO)

Today, BlackRock Advisors LLC cuts its investment of stake in Flowers Foods Inc. (FLO)

BlackRock Advisors LLC reduced its position in Flowers Foods Inc. (NYSE:FLO) by 39.2% during the second quarter, Holdings Channel reports. The firm owned 267,541 shares of the company’s stock after selling 172,479 shares during the period. BlackRock Advisors LLC owned about 0.13% of Flowers Foods worth $5,017,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Tower Research Capital LLC TRC raised its position in shares of Flowers Foods by 33.9% in the second quarter. Tower Research Capital LLC TRC now owns 5,742 shares of the company’s stock worth $108,000 after buying an additional 1,455 shares during the period. Vanguard Group Inc. raised its position in shares of Flowers Foods by 4.3% in the second quarter. Vanguard Group Inc. now owns 15,262,447 shares of the company’s stock worth $286,171,000 after buying an additional 627,379 shares during the period. Principal Financial Group Inc. raised its position in shares of Flowers Foods by 10.1% in the second quarter. Principal Financial Group Inc. now owns 693,461 shares of the company’s stock worth $13,002,000 after buying an additional 63,834 shares during the period. Brown Advisory Inc. raised its position in shares of Flowers Foods by 3.2% in the second quarter. Brown Advisory Inc. now owns 176,150 shares of the company’s stock worth $3,303,000 after buying an additional 5,475 shares during the period. Finally, Hancock Holding Co. raised its position in shares of Flowers Foods by 0.4% in the second quarter. Hancock Holding Co. now owns 450,590 shares of the company’s stock worth $8,449,000 after buying an additional 1,610 shares during the period. 69.00% of the stock is owned by institutional investors and hedge funds.

Flowers Foods Inc. (NYSE:FLO) opened at 15.09 on Tuesday. Flowers Foods Inc. has a 1-year low of $14.35 and a 1-year high of $27.31. The firm has a 50-day moving average price of $15.10 and a 200 day moving average price of $17.39. The company has a market capitalization of $3.12 billion, a P/E ratio of 17.17 and a beta of 0.77.

Flowers Foods (NYSE:FLO) last issued its quarterly earnings results on Wednesday, August 10th. The company reported $0.26 earnings per share for the quarter, hitting the consensus estimate of $0.26. The business earned $935 million during the quarter, compared to the consensus estimate of $948.98 million. Flowers Foods had a return on equity of 16.39% and a net margin of 4.80%. The company’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the company earned $0.25 earnings per share. On average, equities analysts predict that Flowers Foods Inc. will post $0.91 EPS for the current year.

A number of brokerages have weighed in on FLO. DA Davidson began coverage on Flowers Foods in a research report on Wednesday, October 5th. They issued a “neutral” rating and a $16.00 target price for the company. Pivotal Research reaffirmed a “sell” rating and set a $4.00 price target on shares of Flowers Foods in a research report on Thursday, September 1st. TheStreet lowered shares of Flowers Foods from a “buy” rating to a “hold” rating in a research report on Monday, August 22nd. Deutsche Bank AG reaffirmed a “hold” rating and set a $19.00 price target on shares of Flowers Foods in a research report on Saturday, August 13th. Finally, Zacks Investment Research lowered shares of Flowers Foods from a “hold” rating to a “strong sell” rating in a research report on Friday, August 12th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. Flowers Foods has an average rating of “Hold” and an average target price of $17.78.

In other news, Chairman Amos R. Mcmullian acquired 30,000 shares of Flowers Foods stock in a transaction dated Thursday, August 25th. The stock was purchased at an average cost of $14.99 per share, for a total transaction of $449,700.00. Following the completion of the purchase, the chairman now directly owns 3,650,940 shares in the company, valued at approximately $54,727,590.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Richard Lan acquired 14,000 shares of Flowers Foods stock in a transaction dated Monday, August 22nd. The stock was purchased at an average price of $15.18 per share, with a total value of $212,520.00. Following the completion of the purchase, the director now owns 27,763 shares of the company’s stock, valued at $421,442.34. The disclosure for this purchase can be found here. 16.87% of the stock is owned by company insiders.

About Flowers Foods

Flowers Foods, Inc is a producer and marketer of bakery products. The Company operates in two segments: direct-store-delivery segment (DSD Segment) and warehouse delivery segment (Warehouse Segment). The DSD segment’s production plant locations include Birmingham, Alabama; Opelika, Alabama; Tuscaloosa, Alabama; Goldsboro, North Carolina; Jamestown, North Carolina, and Oxford, Pennsylvania.

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