Flowers Foods, Inc. to Issue Quarterly Dividend of $0.24 (NYSE:FLO)

Flowers Foods, Inc. (NYSE:FLO - Get Free Report) declared a quarterly dividend on Thursday, August 22nd, NASDAQ reports. Investors of record on Friday, September 6th will be paid a dividend of 0.24 per share on Friday, September 20th. This represents a $0.96 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date of this dividend is Friday, September 6th.

Flowers Foods has raised its dividend by an average of 4.8% per year over the last three years and has increased its dividend annually for the last 23 consecutive years. Flowers Foods has a dividend payout ratio of 73.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Flowers Foods to earn $1.31 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 73.3%.

Flowers Foods Price Performance

Shares of NYSE FLO traded down $0.26 during midday trading on Thursday, reaching $22.81. 1,074,360 shares of the company were exchanged, compared to its average volume of 1,226,515. The stock's 50-day moving average price is $22.36 and its 200-day moving average price is $23.07. The stock has a market cap of $4.82 billion, a P/E ratio of 39.14, a PEG ratio of 5.84 and a beta of 0.36. Flowers Foods has a one year low of $19.64 and a one year high of $26.12. The company has a quick ratio of 0.82, a current ratio of 1.11 and a debt-to-equity ratio of 0.76.

Flowers Foods (NYSE:FLO - Get Free Report) last posted its earnings results on Friday, August 16th. The company reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.03. The firm had revenue of $1.23 billion for the quarter, compared to analysts' expectations of $1.24 billion. Flowers Foods had a net margin of 2.45% and a return on equity of 18.35%. The company's revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.33 earnings per share. On average, sell-side analysts anticipate that Flowers Foods will post 1.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on FLO shares. BNP Paribas started coverage on shares of Flowers Foods in a research note on Wednesday, July 10th. They issued an "underperform" rating and a $20.00 price objective on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Flowers Foods from $22.00 to $23.00 and gave the stock a "hold" rating in a research note on Thursday, May 9th. StockNews.com raised shares of Flowers Foods from a "hold" rating to a "buy" rating in a research note on Saturday, May 25th. Finally, DA Davidson boosted their price objective on shares of Flowers Foods from $24.00 to $25.00 and gave the stock a "neutral" rating in a research note on Friday, May 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $22.75.

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.

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