Bank of New York Mellon Corp Sells 28,991 Shares of Flowers Foods, Inc. (NYSE:FLO)

Bank of New York Mellon Corp decreased its position in shares of Flowers Foods, Inc. (NYSE:FLO - Free Report) by 1.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,514,033 shares of the company's stock after selling 28,991 shares during the quarter. Bank of New York Mellon Corp owned about 1.19% of Flowers Foods worth $55,812,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Rise Advisors LLC bought a new position in shares of Flowers Foods in the first quarter valued at approximately $26,000. Lindbrook Capital LLC lifted its stake in Flowers Foods by 80.3% during the 1st quarter. Lindbrook Capital LLC now owns 1,208 shares of the company's stock valued at $29,000 after acquiring an additional 538 shares in the last quarter. GAMMA Investing LLC purchased a new position in Flowers Foods during the 4th quarter worth $34,000. Venturi Wealth Management LLC boosted its holdings in Flowers Foods by 2,247.7% during the 1st quarter. Venturi Wealth Management LLC now owns 1,526 shares of the company's stock worth $36,000 after acquiring an additional 1,461 shares during the last quarter. Finally, Jones Financial Companies Lllp bought a new stake in shares of Flowers Foods in the 4th quarter worth $39,000. 75.45% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Flowers Foods Stock Performance

Flowers Foods stock traded up $0.38 during mid-day trading on Friday, reaching $23.24. The company's stock had a trading volume of 1,313,385 shares, compared to its average volume of 1,215,925. The firm's fifty day moving average price is $22.42 and its two-hundred day moving average price is $23.08. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.82 and a current ratio of 1.11. Flowers Foods, Inc. has a 12-month low of $19.64 and a 12-month high of $26.12. The company has a market capitalization of $4.91 billion, a P/E ratio of 39.39, a PEG ratio of 5.84 and a beta of 0.36.

Flowers Foods (NYSE:FLO - Get Free Report) last announced its quarterly earnings results on Friday, August 16th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.03. Flowers Foods had a return on equity of 18.35% and a net margin of 2.45%. The company had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.24 billion. During the same period in the previous year, the business earned $0.33 earnings per share. The firm's quarterly revenue was down .3% compared to the same quarter last year. Sell-side analysts predict that Flowers Foods, Inc. will post 1.23 EPS for the current fiscal year.

Flowers Foods Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 4.13%. The ex-dividend date of this dividend is Friday, September 6th. Flowers Foods's dividend payout ratio is presently 162.71%.

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.