Flowers Foods (NYSE:FLO) Price Target Cut to $20.00 by Analysts at Truist Financial

Flowers Foods (NYSE:FLO - Free Report) had its price objective decreased by Truist Financial from $23.00 to $20.00 in a research note released on Monday morning,Benzinga reports. Truist Financial currently has a hold rating on the stock.

Separately, StockNews.com cut shares of Flowers Foods from a "strong-buy" rating to a "buy" rating in a report on Friday, December 20th. One research 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 MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $21.00.

Flowers Foods Stock Performance

Shares of FLO traded up $0.35 during trading hours on Monday, reaching $18.77. 953,501 shares of the company traded hands, compared to its average volume of 2,091,535. The stock 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. The business has a fifty day moving average price of $20.12 and a 200-day moving average price of $21.79. Flowers Foods has a 12-month low of $18.34 and a 12-month high of $26.12.

Flowers Foods (NYSE:FLO - Get Free Report) last posted its quarterly earnings results on Friday, February 7th. The company reported $0.22 earnings per share for the quarter, beating 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 prior year, the firm posted $0.20 EPS. Equities analysts anticipate that Flowers Foods will post 1.27 EPS for the current fiscal year.

Flowers Foods Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors 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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CWM LLC grew its position in shares of Flowers Foods by 61.0% during the 3rd quarter. CWM LLC now owns 18,618 shares of the company's stock valued at $430,000 after acquiring an additional 7,051 shares during the period. Inspire Investing LLC lifted its position in shares of Flowers Foods by 11.9% during the 3rd quarter. Inspire Investing LLC now owns 17,826 shares of the company's stock valued at $411,000 after buying an additional 1,902 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in Flowers Foods by 7.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 31,125 shares of the company's stock valued at $718,000 after acquiring an additional 2,059 shares during the period. Thomasville National Bank increased its holdings in Flowers Foods by 30.2% in the 3rd quarter. Thomasville National Bank now owns 429,014 shares of the company's stock worth $9,897,000 after acquiring an additional 99,599 shares in the last quarter. Finally, Creative Planning raised its position in Flowers Foods by 1.2% during the third quarter. Creative Planning now owns 429,116 shares of the company's stock worth $9,900,000 after acquiring an additional 5,035 shares during the period. 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.