Alliancebernstein L.P. Has $4.75 Million Stock Holdings in Flowers Foods, Inc. (NYSE:FLO)

Alliancebernstein L.P. lowered its holdings in Flowers Foods, Inc. (NYSE:FLO - Free Report) by 20.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 229,675 shares of the company's stock after selling 58,767 shares during the period. Alliancebernstein L.P. owned approximately 0.11% of Flowers Foods worth $4,745,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FLO. Norges Bank bought a new position in Flowers Foods in the 4th quarter worth $42,591,000. Raymond James Financial Inc. bought a new stake in Flowers Foods in the fourth quarter valued at about $12,058,000. Vanguard Group Inc. raised its holdings in shares of Flowers Foods by 2.3% in the 4th quarter. Vanguard Group Inc. now owns 22,737,981 shares of the company's stock worth $469,767,000 after buying an additional 518,745 shares in the last quarter. Ipsen Advisor Group LLC bought a new position in shares of Flowers Foods during the fourth quarter valued at $9,261,000. Finally, Geode Capital Management LLC grew its stake in Flowers Foods by 6.6% during the third quarter. Geode Capital Management LLC now owns 4,159,076 shares of the company's stock worth $95,971,000 after buying an additional 259,216 shares during the last quarter. 75.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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Flowers Foods Stock Performance

FLO stock traded down $0.32 during midday trading on Wednesday, reaching $17.98. 1,634,515 shares of the company were exchanged, compared to its average volume of 1,518,958. Flowers Foods, Inc. has a one year low of $17.33 and a one year high of $26.12. The firm has a market capitalization of $3.80 billion, a price-to-earnings ratio of 15.37, a price-to-earnings-growth ratio of 8.72 and a beta of 0.40. The business has a 50-day moving average price of $18.66 and a two-hundred day moving average price of $20.41. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.20 and a quick ratio of 0.95.

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, beating analysts' consensus estimates 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 period in the prior year, the business earned $0.20 earnings per share. Equities research analysts forecast that Flowers Foods, Inc. will post 1.18 EPS for the current year.

Flowers Foods Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.96 dividend on an annualized basis and a yield of 5.34%. 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.