Flowers Foods (NYSE:FLO) Price Target Cut to $21.00 by Analysts at DA Davidson

Flowers Foods (NYSE:FLO - Free Report) had its price objective reduced by DA Davidson from $24.00 to $21.00 in a research note released on Monday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other research analysts have also weighed in on FLO. StockNews.com lowered shares of Flowers Foods from a "strong-buy" rating to a "buy" rating in a report on Friday, December 20th. Truist Financial cut their price target on shares of Flowers Foods from $23.00 to $20.00 and set a "hold" rating on the stock in a research note on Monday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $21.00.

Flowers Foods Trading Up 1.9 %

Shares of FLO traded up $0.35 on Monday, hitting $18.77. 953,501 shares of the stock traded hands, compared to its average volume of 2,091,535. The firm has a market capitalization of $3.95 billion, a P/E ratio of 16.49, a P/E/G ratio of 3.74 and a beta of 0.38. The company has a quick ratio of 0.95, a current ratio of 1.24 and a debt-to-equity ratio of 0.75. Flowers Foods has a 1 year low of $18.34 and a 1 year high of $26.12. The stock's 50 day moving average is $20.12 and its two-hundred day moving average is $21.79.

Flowers Foods (NYSE:FLO - Get Free Report) last posted its quarterly earnings data 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 19.41% and a net margin of 4.70%. During the same quarter in the previous year, the business earned $0.20 EPS. As a group, sell-side analysts predict that Flowers Foods will post 1.27 earnings per share for the current year.

Flowers Foods Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 5.12%. The ex-dividend date was Friday, November 29th. Flowers Foods's dividend payout ratio is currently 84.21%.

Institutional Trading of Flowers Foods

A number of institutional investors and hedge funds have recently bought and sold shares of FLO. 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 period. SG Americas Securities LLC boosted its position in Flowers Foods by 642.6% during the 4th quarter. SG Americas Securities LLC now owns 113,637 shares of the company's stock worth $2,348,000 after purchasing an additional 98,335 shares during the period. Jane Street Group LLC boosted its position in Flowers Foods by 85.0% during the 3rd quarter. Jane Street Group LLC now owns 72,886 shares of the company's stock worth $1,681,000 after purchasing an additional 33,480 shares during the period. KBC Group NV increased its holdings in Flowers Foods by 2,156.0% in the 4th quarter. KBC Group NV now owns 136,354 shares of the company's stock valued at $2,817,000 after purchasing an additional 130,310 shares in the last quarter. Finally, Nordea Investment Management AB purchased a new position in Flowers Foods in the fourth quarter valued at about $4,461,000. Institutional investors and hedge funds own 75.45% of the company's stock.

About Flowers Foods

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.