Zurcher Kantonalbank Zurich Cantonalbank Buys 3,411 Shares of Flowers Foods, Inc. (FLO)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Flowers Foods, Inc. (NYSE:FLO) by 31.5% during the third quarter, HoldingsChannel reports. The firm owned 14,242 shares of the company’s stock after buying an additional 3,411 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Flowers Foods were worth $266,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Chicago Equity Partners LLC increased its stake in Flowers Foods by 2.2% in the 2nd quarter. Chicago Equity Partners LLC now owns 122,820 shares of the company’s stock worth $2,558,000 after acquiring an additional 2,670 shares during the last quarter. Arizona State Retirement System increased its stake in Flowers Foods by 2.7% in the 2nd quarter. Arizona State Retirement System now owns 128,800 shares of the company’s stock worth $2,683,000 after acquiring an additional 3,431 shares during the last quarter. Foster & Motley Inc. increased its stake in Flowers Foods by 29.0% in the 3rd quarter. Foster & Motley Inc. now owns 20,050 shares of the company’s stock worth $374,000 after acquiring an additional 4,511 shares during the last quarter. Centaurus Financial Inc. bought a new position in Flowers Foods in the 2nd quarter worth about $101,000. Finally, Cadence Capital Management LLC increased its stake in Flowers Foods by 21.2% in the 3rd quarter. Cadence Capital Management LLC now owns 30,239 shares of the company’s stock worth $564,000 after acquiring an additional 5,293 shares during the last quarter. 66.34% of the stock is currently owned by institutional investors and hedge funds.

Shares of Flowers Foods stock opened at $19.19 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.12 and a current ratio of 1.42. The stock has a market cap of $4.08 billion, a PE ratio of 20.38, a PEG ratio of 2.32 and a beta of 0.37. Flowers Foods, Inc. has a 12 month low of $18.12 and a 12 month high of $22.82.

Flowers Foods (NYSE:FLO) last announced its quarterly earnings data on Wednesday, November 7th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.02). The firm had revenue of $923.45 million for the quarter, compared to the consensus estimate of $931.87 million. Flowers Foods had a net margin of 5.45% and a return on equity of 15.61%. Flowers Foods’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.23 earnings per share. Research analysts forecast that Flowers Foods, Inc. will post 0.93 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be given a dividend of $0.18 per share. The ex-dividend date is Thursday, November 29th. This represents a $0.72 annualized dividend and a dividend yield of 3.75%. Flowers Foods’s dividend payout ratio (DPR) is presently 80.90%.

A number of equities analysts have weighed in on the company. Zacks Investment Research restated a “hold” rating on shares of Flowers Foods in a research note on Tuesday, November 13th. Deutsche Bank set a $18.00 target price on Flowers Foods and gave the stock a “hold” rating in a research note on Monday, November 12th. Pivotal Research lowered Flowers Foods from a “buy” rating to a “sell” rating and decreased their target price for the stock from $24.00 to $16.00 in a research note on Thursday, November 8th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $19.00 target price on shares of Flowers Foods in a research note on Friday, August 10th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. Flowers Foods has a consensus rating of “Hold” and an average target price of $20.50.

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Flowers Foods Profile

Flowers Foods, Inc produces and markets bakery products in the United States. It operates through two segments, Direct-Store-Delivery (DSD) and Warehouse Delivery. The DSD segment produces and markets fresh breads, buns, rolls, tortillas, and snack cakes. This segment offers its products primarily under the Nature's Own, Wonder, Cobblestone Bread Company, Tastykake, and Dave's Killer Bread brand names.

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Institutional Ownership by Quarter for Flowers Foods (NYSE:FLO)

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