Texas Permanent School Fund Corp Acquires 43,136 Shares of Flowers Foods, Inc. (NYSE:FLO)

Posted by Defense World Staff on Jul 24th, 2023

Texas Permanent School Fund Corp increased its holdings in Flowers Foods, Inc. (NYSE:FLO – Free Report) by 33.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 172,303 shares of the company’s stock after acquiring an additional 43,136 shares during the quarter. Texas Permanent School Fund Corp owned about 0.08% of Flowers Foods worth $4,723,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Flowers Foods by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 19,913,247 shares of the company’s stock worth $491,657,000 after acquiring an additional 426,547 shares in the last quarter. Wellington Shields Capital Management LLC increased its stake in shares of Flowers Foods by 2,563.0% in the 4th quarter. Wellington Shields Capital Management LLC now owns 14,174,952 shares of the company’s stock worth $407,388,000 after acquiring an additional 13,642,655 shares in the last quarter. Wellington Shields & Co. LLC increased its stake in shares of Flowers Foods by 3,245.4% in the 4th quarter. Wellington Shields & Co. LLC now owns 6,849,098 shares of the company’s stock worth $196,843,000 after acquiring an additional 6,644,368 shares in the last quarter. Renaissance Technologies LLC increased its stake in Flowers Foods by 8.1% during the 1st quarter. Renaissance Technologies LLC now owns 5,999,785 shares of the company’s stock valued at $154,254,000 after purchasing an additional 450,441 shares in the last quarter. Finally, State Street Corp increased its stake in Flowers Foods by 4.5% during the 1st quarter. State Street Corp now owns 5,595,570 shares of the company’s stock valued at $143,862,000 after purchasing an additional 243,369 shares in the last quarter. 81.27% of the stock is currently owned by institutional investors.

Flowers Foods Stock Up 0.1 %

NYSE:FLO opened at $24.72 on Monday. The firm has a 50-day simple moving average of $25.18 and a two-hundred day simple moving average of $26.73. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.98 and a current ratio of 1.32. The firm has a market cap of $5.24 billion, a P/E ratio of 24.72 and a beta of 0.40. Flowers Foods, Inc. has a fifty-two week low of $23.87 and a fifty-two week high of $30.16.

Flowers Foods (NYSE:FLO – Get Free Report) last announced its quarterly earnings results on Friday, May 19th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.55 billion. Flowers Foods had a net margin of 4.35% and a return on equity of 17.95%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.44 EPS. Analysts predict that Flowers Foods, Inc. will post 1.2 earnings per share for the current fiscal year.

Flowers Foods Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 22nd. Stockholders of record on Thursday, June 8th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date was Wednesday, June 7th. This is an increase from Flowers Foods’s previous quarterly dividend of $0.22. Flowers Foods’s dividend payout ratio (DPR) is presently 92.00%.

Wall Street Analyst Weigh In

FLO has been the subject of a number of analyst reports. StockNews.com lowered shares of Flowers Foods from a “buy” rating to a “hold” rating in a research note on Wednesday, June 28th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Flowers Foods from $26.00 to $24.00 in a research note on Monday, May 22nd.

Insider Activity

In related news, insider H Mark Courtney sold 14,272 shares of the firm’s stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $24.39, for a total value of $348,094.08. Following the transaction, the insider now owns 41,488 shares of the company’s stock, valued at $1,011,892.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 11.49% of the company’s stock.

About Flowers Foods

(Free Report)

Flowers Foods, Inc produces and markets packaged bakery food products in the United States. Its principal products include fresh breads, buns, rolls, snack cakes, and tortillas, as well as frozen breads and rolls under the Nature's Own, Dave's Killer Bread, Wonder, Canyon Bakehouse, Mrs. Freshley's, and Tastykake brand names.