Hennion & Walsh Asset Management Inc. buys new shares of Flowers Foods, Inc. (NYSE: FLO)


Hennion & Walsh Asset Management Inc. acquired a new stake in Flowers Foods, Inc. (NYSE:FLO – Get Rating) in the first quarter, Holdings Channel.com reports. The company purchased 13,068 shares of the company, valued at approximately $336,000.

Several other institutional investors have also increased or reduced their stake in FLO. Wellington Shields & Co. LLC increased its stake in Flowers Foods by 28,270.0% during the 4th quarter. Wellington Shields & Co. LLC now owns 6,553,181 shares of the company worth $180,016,000 after purchasing an additional 6,530,082 shares in the last quarter. Renaissance Technologies LLC increased its stake in Flowers Foods by 6.7% during the 4th quarter. Renaissance Technologies LLC now owns 5,549,344 shares of the company worth $152,440,000 after purchasing an additional 346,837 shares in the last quarter. State Street Corp increased its stake in Flowers Foods by 2.9% during the fourth quarter. State Street Corp now owns 5,352,201 shares of the company worth $147,025,000 after purchasing an additional 151,248 shares in the last quarter. Boston Trust Walden Corp increased its stake in Flowers Foods by 6.1% in the first quarter. Boston Trust Walden Corp now owns 2,836,301 shares of the company worth $72,921,000 after purchasing an additional 163,280 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Flowers Foods by 4.7% during the 4th quarter. Geode Capital Management LLC now owns 2,534,571 shares of the company worth $69,624,000 after purchasing an additional 112,855 shares in the last quarter. 71.99% of the shares are held by institutional investors and hedge funds.

FLO shares opened at $27.16 on Friday. The company has a debt ratio of 0.61, a current ratio of 1.52 and a quick ratio of 1.25. The stock has a market capitalization of $5.76 billion, a PE ratio of 26.63 and a beta of 0.25. The stock has a 50-day moving average of $26.26 and a 200-day moving average of $26.81. Flowers Foods, Inc. has a one-year low of $22.61 and a one-year high of $29.73.

Flowers Foods (NYSE:FLO – Get Rating) last reported quarterly results on Thursday, May 19. The company reported EPS of $0.44 for the quarter, beating consensus analyst estimates of $0.39 by $0.05. The company posted revenue of $1.44 billion in the quarter, versus $1.40 billion expected by analysts. Flowers Foods had a return on equity of 18.97% and a net margin of 4.93%. Flowers Foods revenue increased 10.3% year over year. In the same period a year earlier, the company posted EPS of $0.41. As a group, research analysts expect Flowers Foods, Inc. to post 1.25 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 23. Investors of record on Thursday, June 9 received a dividend of $0.22. The ex-dividend date was Wednesday, June 8. This is a positive change from Flowers Foods’ previous quarterly dividend of $0.21. This represents an annualized dividend of $0.88 and a dividend yield of 3.24%. The distribution rate of Flowers Foods is currently 86.28%.

In related news, CEO Ryals Mcmullian sold 66,000 shares of the company in a trade that took place on Wednesday, June 1. The stock was sold at an average price of $26.54, for a total value of $1,751,640.00. Following completion of the transaction, the CEO now directly owns 1,934,000 shares of the company, valued at approximately $51,328,360. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. 11.79% of the shares are currently held by insiders.

Several brokerages have weighed in on FLO. Deutsche Bank Aktiengesellschaft lowered its price target on Flowers Foods from $27.00 to $26.00 in a Monday, May 23 report. StockNews.com upgraded Flowers Foods from a “hold” rating to a “buy” rating in a Monday, May 23 research note.

Profile Food Flowers (Get a rating)

Flowers Foods, Inc. produces and markets packaged baked goods in the United States. It offers fresh breads, rolls, buns, cupcakes and tortillas, as well as frozen breads and rolls under the brands Nature’s Own, Dave’s Killer Bread, Wonder, Canyon Bakehouse, Mrs. Freshley’s and Tastykake.

Further reading

Want to see which other hedge funds hold FLO? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Flowers Foods, Inc. (NYSE: FLO – Get Rating).

Institutional ownership by quarter for Flowers Foods (NYSE:FLO)



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