BB&T Corp cut its stake in Flowers Foods, Inc. (NYSE:FLO) by 0.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,219,782 shares of the company’s stock after selling 9,583 shares during the period. BB&T Corp’s holdings in Flowers Foods were worth $18,443,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Diversified Trust Co boosted its position in Flowers Foods by 10.2% in the second quarter. Diversified Trust Co now owns 21,550 shares of the company’s stock valued at $404,000 after buying an additional 2,000 shares in the last quarter. American Century Companies Inc. purchased a new position in Flowers Foods during the second quarter valued at $94,985,000. Deprince Race & Zollo Inc. boosted its position in Flowers Foods by 107.1% in the second quarter. Deprince Race & Zollo Inc. now owns 3,301,228 shares of the company’s stock valued at $61,898,000 after buying an additional 1,707,167 shares in the last quarter. American Research & Management Co. boosted its position in Flowers Foods by 1.8% in the second quarter. American Research & Management Co. now owns 11,201 shares of the company’s stock valued at $210,000 after buying an additional 200 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in Flowers Foods by 26.4% in the second quarter. Nordea Investment Management AB now owns 33,417 shares of the company’s stock valued at $627,000 after buying an additional 6,970 shares in the last quarter. Institutional investors own 69.46% of the company’s stock.
Flowers Foods, Inc. (NYSE:FLO) traded up 0.327% during mid-day trading on Wednesday, reaching $19.965. The company’s stock had a trading volume of 107,158 shares. The firm has a 50 day moving average price of $19.33 and a 200 day moving average price of $16.80. The company has a market cap of $4.15 billion, a price-to-earnings ratio of 22.975 and a beta of 0.86. Flowers Foods, Inc. has a 52-week low of $14.35 and a 52-week high of $21.24.
Flowers Foods (NYSE:FLO) last posted its quarterly earnings data on Wednesday, November 9th. The company reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by $0.00. Flowers Foods had a return on equity of 16.16% and a net margin of 4.67%. The business earned $918.80 million during the quarter, compared to the consensus estimate of $923.81 million. During the same period last year, the business posted $0.23 earnings per share. The business’s revenue was up 3.8% on a year-over-year basis. Equities research analysts anticipate that Flowers Foods, Inc. will post $0.91 earnings per share for the current year.
FLO has been the subject of several recent research reports. TheStreet raised Flowers Foods from a “hold” rating to a “buy” rating in a research report on Thursday, January 5th. Jefferies Group LLC reaffirmed a “buy” rating and set a $20.00 price objective on shares of Flowers Foods in a research report on Tuesday, December 13th. Wunderlich initiated coverage on Flowers Foods in a research report on Friday, January 13th. They set a “buy” rating and a $24.00 price objective for the company. Zacks Investment Research raised Flowers Foods from a “sell” rating to a “hold” rating in a research report on Monday, November 14th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $17.00 price objective on shares of Flowers Foods in a research report on Friday, November 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $20.00.
In related news, SVP Dan W. Stone sold 13,250 shares of the business’s stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $16.15, for a total value of $213,987.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Tonja W. Taylor sold 4,425 shares of the business’s stock in a transaction dated Friday, November 18th. The shares were sold at an average price of $15.91, for a total value of $70,401.75. Following the completion of the sale, the senior vice president now directly owns 17,594 shares of the company’s stock, valued at $279,920.54. The disclosure for this sale can be found here. Over the last three months, insiders sold 256,472 shares of company stock valued at $4,685,873. Corporate insiders own 16.87% of the company’s stock.
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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