Quadrature Capital Ltd Acquires 8,523 Shares of Flowers Foods, Inc. (NYSE:FLO)

Posted by Defense World Staff on Mar 12th, 2023

Quadrature Capital Ltd boosted its holdings in Flowers Foods, Inc. (NYSE:FLO – Get Rating) by 89.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,075 shares of the company’s stock after purchasing an additional 8,523 shares during the quarter. Quadrature Capital Ltd’s holdings in Flowers Foods were worth $446,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. New Millennium Group LLC purchased a new position in shares of Flowers Foods in the second quarter worth $29,000. Ellevest Inc. lifted its stake in Flowers Foods by 350.8% in the 3rd quarter. Ellevest Inc. now owns 1,722 shares of the company’s stock worth $43,000 after purchasing an additional 1,340 shares in the last quarter. Dark Forest Capital Management LP lifted its stake in Flowers Foods by 28.3% in the 2nd quarter. Dark Forest Capital Management LP now owns 1,716 shares of the company’s stock worth $45,000 after purchasing an additional 378 shares in the last quarter. Altshuler Shaham Ltd bought a new position in shares of Flowers Foods during the 3rd quarter valued at about $45,000. Finally, Bessemer Group Inc. grew its position in shares of Flowers Foods by 2,044.2% during the third quarter. Bessemer Group Inc. now owns 3,152 shares of the company’s stock valued at $78,000 after purchasing an additional 3,005 shares in the last quarter. 66.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on FLO shares. Deutsche Bank Aktiengesellschaft upgraded Flowers Foods from a “sell” rating to a “hold” rating and set a $27.00 target price on the stock in a research report on Friday, March 3rd. StockNews.com downgraded Flowers Foods from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 25th.

Flowers Foods Stock Performance

Shares of NYSE:FLO opened at $27.20 on Friday. The firm has a fifty day simple moving average of $27.75 and a two-hundred day simple moving average of $27.66. Flowers Foods, Inc. has a 52 week low of $24.15 and a 52 week high of $30.16. The company has a quick ratio of 1.13, a current ratio of 1.43 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $5.75 billion, a P/E ratio of 25.42 and a beta of 0.39.

Flowers Foods (NYSE:FLO – Get Rating) last announced its quarterly earnings results on Friday, February 10th. The company reported $0.23 EPS for the quarter, meeting analysts’ consensus estimates of $0.23. Flowers Foods had a net margin of 4.75% and a return on equity of 18.77%. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter last year, the firm earned $0.20 EPS. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. On average, analysts expect that Flowers Foods, Inc. will post 1.25 earnings per share for the current fiscal year.

Flowers Foods Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 17th. Investors of record on Friday, March 3rd will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, March 2nd. This represents a $0.88 annualized dividend and a yield of 3.24%. Flowers Foods’s payout ratio is presently 82.24%.

About Flowers Foods

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Flowers Foods, Inc engages in the manufacture and sale of bakery products. The firm offers bakery foods for retail and food service customers in the United States. Its brands include Nature’s Own, Dave’s Killer Bread, Wonder, Canyon Bakehouse, Tastykake and Mrs. Freshley’s. The company was founded by William Howard Flowers, Sr.