Flowers Foods, Inc. (NYSE:FLO) Shares Sold by Summit Global Investments

Summit Global Investments lowered its holdings in Flowers Foods, Inc. (NYSE:FLO) by 1.6% in the fourth quarter, HoldingsChannel reports. The firm owned 53,793 shares of the company’s stock after selling 885 shares during the quarter. Summit Global Investments’ holdings in Flowers Foods were worth $1,111,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in FLO. Geode Capital Management LLC grew its holdings in Flowers Foods by 6.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,159,076 shares of the company’s stock worth $95,971,000 after acquiring an additional 259,216 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Flowers Foods by 3.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,008,103 shares of the company’s stock worth $46,327,000 after acquiring an additional 58,141 shares in the last quarter. Fisher Asset Management LLC grew its holdings in Flowers Foods by 3.8% during the 4th quarter. Fisher Asset Management LLC now owns 886,349 shares of the company’s stock worth $18,312,000 after acquiring an additional 32,320 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Flowers Foods by 1.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 586,008 shares of the company’s stock worth $13,519,000 after acquiring an additional 7,844 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Flowers Foods during the 4th quarter worth approximately $12,058,000. Institutional investors and hedge funds own 75.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on FLO shares. StockNews.com cut shares of Flowers Foods from a “strong-buy” rating to a “buy” rating in a report on Friday, December 20th. Truist Financial lowered their target price on shares of Flowers Foods from $23.00 to $20.00 and set a “hold” rating for the company in a report on Monday, February 10th. Finally, DA Davidson lowered their target price on shares of Flowers Foods from $24.00 to $21.00 and set a “neutral” rating for the company in a report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $21.00.

Flowers Foods Stock Performance

NYSE FLO opened at $18.21 on Friday. The company has a current ratio of 1.20, a quick ratio of 0.95 and a debt-to-equity ratio of 0.72. The business’s 50 day moving average is $19.06 and its two-hundred day moving average is $21.03. Flowers Foods, Inc. has a 12-month low of $17.99 and a 12-month high of $26.12. The stock has a market capitalization of $3.84 billion, a price-to-earnings ratio of 15.56, a PEG ratio of 8.72 and a beta of 0.41.

Flowers Foods (NYSE:FLO) last released its earnings results on Friday, February 7th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.01. Flowers Foods had a return on equity of 19.48% and a net margin of 4.86%. During the same quarter in the previous year, the business posted $0.20 EPS. Research analysts expect that Flowers Foods, Inc. will post 1.18 EPS for the current year.

Flowers Foods Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 5.27%. The ex-dividend date was Friday, February 28th. Flowers Foods’s payout ratio is 82.05%.

Flowers Foods Company Profile

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.