Connor Clark & Lunn Investment Management Ltd. Buys Shares of 39,951 Flowers Foods, Inc. (NYSE:FLO)

Connor Clark & Lunn Investment Management Ltd. bought a new position in Flowers Foods, Inc. (NYSE:FLO - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 39,951 shares of the company's stock, valued at approximately $825,000.

Several other institutional investors have also recently added to or reduced their stakes in FLO. Raymond James Financial Inc. acquired a new stake in shares of Flowers Foods in the 4th quarter valued at about $12,058,000. Geode Capital Management LLC grew its stake in Flowers Foods by 6.6% in the third quarter. Geode Capital Management LLC now owns 4,159,076 shares of the company's stock valued at $95,971,000 after acquiring an additional 259,216 shares during the period. Edgestream Partners L.P. increased its holdings in shares of Flowers Foods by 423.1% during the third quarter. Edgestream Partners L.P. now owns 306,848 shares of the company's stock valued at $7,079,000 after acquiring an additional 248,185 shares in the last quarter. Nordea Investment Management AB bought a new stake in shares of Flowers Foods during the fourth quarter valued at approximately $4,461,000. Finally, Victory Capital Management Inc. raised its position in shares of Flowers Foods by 416.4% during the third quarter. Victory Capital Management Inc. now owns 252,757 shares of the company's stock worth $5,831,000 after purchasing an additional 203,807 shares during the period. 75.45% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Remove Ads

Flowers Foods Stock Down 0.7 %

FLO traded down $0.13 during mid-day trading on Tuesday, reaching $18.06. 1,283,992 shares of the stock were exchanged, compared to its average volume of 1,388,947. Flowers Foods, Inc. has a 1 year low of $17.99 and a 1 year high of $26.12. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.95 and a current ratio of 1.20. The stock has a market capitalization of $3.81 billion, a PE ratio of 15.44, a price-to-earnings-growth ratio of 8.72 and a beta of 0.41. The company has a 50 day moving average price of $19.04 and a two-hundred day moving average price of $20.98.

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

Flowers Foods Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.24 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.96 annualized dividend and a yield of 5.32%. Flowers Foods's dividend payout ratio is currently 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.