Truist Financial Corp Purchases 36,281 Shares of Flowers Foods, Inc. (NYSE:FLO)

Truist Financial Corp boosted its position in shares of Flowers Foods, Inc. (NYSE:FLO - Free Report) by 3.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,265,092 shares of the company's stock after acquiring an additional 36,281 shares during the period. Truist Financial Corp owned approximately 0.60% of Flowers Foods worth $28,085,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Signaturefd LLC increased its stake in Flowers Foods by 2.0% during the second quarter. Signaturefd LLC now owns 23,779 shares of the company's stock valued at $528,000 after acquiring an additional 466 shares during the period. Taylor Frigon Capital Management LLC grew its stake in shares of Flowers Foods by 0.9% in the 1st quarter. Taylor Frigon Capital Management LLC now owns 52,279 shares of the company's stock valued at $1,242,000 after purchasing an additional 474 shares during the period. Argyle Capital Management Inc. grew its stake in shares of Flowers Foods by 0.8% in the 1st quarter. Argyle Capital Management Inc. now owns 66,018 shares of the company's stock valued at $1,568,000 after purchasing an additional 500 shares during the period. Commonwealth Equity Services LLC grew its stake in shares of Flowers Foods by 2.9% in the 2nd quarter. Commonwealth Equity Services LLC now owns 21,728 shares of the company's stock valued at $482,000 after purchasing an additional 603 shares during the period. Finally, Arcadia Investment Management Corp MI grew its stake in shares of Flowers Foods by 1.4% in the 2nd quarter. Arcadia Investment Management Corp MI now owns 45,165 shares of the company's stock valued at $1,003,000 after purchasing an additional 625 shares during the period. 75.45% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on FLO. BNP Paribas began coverage on Flowers Foods in a research note on Wednesday, July 10th. They issued an "underperform" rating and a $20.00 price objective on the stock. StockNews.com downgraded Flowers Foods from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $22.75.

Flowers Foods Trading Up 1.4 %

NYSE:FLO traded up $0.30 during mid-day trading on Friday, hitting $22.40. The company had a trading volume of 970,252 shares, compared to its average volume of 1,188,204. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.91 and a current ratio of 1.19. Flowers Foods, Inc. has a fifty-two week low of $19.64 and a fifty-two week high of $26.12. The firm has a market cap of $4.73 billion, a P/E ratio of 37.97, a P/E/G ratio of 4.43 and a beta of 0.36. The business's fifty day moving average is $22.97 and its two-hundred day moving average is $23.17.

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 analysts' consensus estimates of $0.33 by $0.03. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.24 billion. Flowers Foods had a net margin of 2.51% and a return on equity of 18.97%. Flowers Foods's revenue for the quarter was down .3% on a year-over-year basis. During the same period last year, the company posted $0.33 EPS. As a group, research analysts expect that Flowers Foods, Inc. will post 1.26 earnings per share for the current year.

Flowers Foods Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.96 dividend on an annualized basis and a yield of 4.29%. Flowers Foods's payout ratio is 162.71%.

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.