Flowers Foods (NYSE:FLO) Shares Gap Up on Better-Than-Expected Earnings

Flowers Foods, Inc. (NYSE:FLO - Get Free Report)'s share price gapped up prior to trading on Friday following a better than expected earnings announcement. The stock had previously closed at $19.34, but opened at $20.21. Flowers Foods shares last traded at $19.16, with a volume of 912,185 shares trading hands.

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 period last year, the company posted $0.20 EPS.

Flowers Foods Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 5.13%. The ex-dividend date was Friday, November 29th. Flowers Foods's payout ratio is presently 84.21%.

Analyst Ratings Changes

FLO has been the subject of a number of recent analyst reports. StockNews.com cut shares of Flowers Foods from a "strong-buy" rating to a "buy" rating in a research report on Friday, December 20th. Truist Financial dropped their price objective on shares of Flowers Foods from $23.00 to $20.00 and set a "hold" rating on the stock in a report on Monday. Finally, DA Davidson reduced their target price 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. One investment 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's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $21.00.

Institutional Trading of Flowers Foods

A number of hedge funds have recently made changes to their positions in the business. Blue Trust Inc. raised its stake in Flowers Foods by 18,254.5% in the 3rd quarter. Blue Trust Inc. now owns 2,019 shares of the company's stock valued at $45,000 after acquiring an additional 2,008 shares during the period. Capital Performance Advisors LLP acquired a new stake in shares of Flowers Foods during the 3rd quarter worth about $52,000. Brooklyn Investment Group boosted its holdings in shares of Flowers Foods by 171.8% during the 4th quarter. Brooklyn Investment Group now owns 2,623 shares of the company's stock worth $54,000 after buying an additional 1,658 shares during the period. Quent Capital LLC boosted its holdings in shares of Flowers Foods by 104.2% during the fourth quarter. Quent Capital LLC now owns 3,049 shares of the company's stock worth $63,000 after acquiring an additional 1,556 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in shares of Flowers Foods by 67.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,276 shares of the company's stock valued at $68,000 after purchasing an additional 1,323 shares during the last quarter. 75.45% of the stock is owned by institutional investors and hedge funds.

Flowers Foods Stock Performance

The stock has a 50 day moving average price of $20.36 and a two-hundred day moving average price of $21.87. The company has a market cap of $3.94 billion, a P/E ratio of 16.44, a price-to-earnings-growth 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 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.