Envestnet Asset Management Inc. Lowers Holdings in Flowers Foods, Inc. (NYSE:FLO)

Envestnet Asset Management Inc. trimmed its position in Flowers Foods, Inc. (NYSE:FLO - Free Report) by 10.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 126,791 shares of the company's stock after selling 14,422 shares during the period. Envestnet Asset Management Inc. owned about 0.06% of Flowers Foods worth $2,619,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Flowers Foods by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 22,737,981 shares of the company's stock valued at $469,767,000 after acquiring an additional 518,745 shares in the last quarter. Geode Capital Management LLC grew its stake in Flowers Foods by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 4,219,943 shares of the company's stock valued at $87,205,000 after purchasing an additional 60,867 shares during the period. Norges Bank purchased a new stake in shares of Flowers Foods during the 4th quarter valued at $42,591,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Flowers Foods by 6.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,066,470 shares of the company's stock worth $22,033,000 after purchasing an additional 67,750 shares during the period. Finally, California Public Employees Retirement System boosted its holdings in shares of Flowers Foods by 1.8% in the 4th quarter. California Public Employees Retirement System now owns 919,272 shares of the company's stock worth $18,992,000 after buying an additional 16,690 shares during the last quarter. Hedge funds and other institutional investors own 75.45% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on FLO shares. Truist Financial lowered their price objective on shares of Flowers Foods from $23.00 to $20.00 and set a "hold" rating on the stock in a research report on Monday, February 10th. DA Davidson dropped their price objective on Flowers Foods from $24.00 to $21.00 and set a "neutral" rating on the stock in a research note on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $21.00.

Flowers Foods Stock Performance

Shares of FLO stock traded down $0.08 during trading on Tuesday, reaching $17.59. 3,052,292 shares of the company's stock traded hands, compared to its average volume of 1,527,724. Flowers Foods, Inc. has a 1 year low of $17.33 and a 1 year high of $26.12. The company has a market capitalization of $3.71 billion, a P/E ratio of 15.03, a PEG ratio of 8.72 and a beta of 0.40. 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 firm's 50-day moving average is $18.56 and its 200 day moving average is $20.11.

Flowers Foods (NYSE:FLO - Get Free Report) last posted 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 prior year, the company earned $0.20 EPS. Equities research analysts expect that Flowers Foods, Inc. will post 1.18 EPS for the current year.

Flowers Foods Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 5.46%. The ex-dividend date of this dividend was Friday, February 28th. Flowers Foods's payout ratio is presently 82.05%.

Flowers Foods 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.