Louisiana State Employees Retirement System Has $1.40 Million Stock Position in Flowers Foods, Inc. (NYSE:FLO)

Posted by Defense World Staff on Oct 4th, 2023

Louisiana State Employees Retirement System grew its position in shares of Flowers Foods, Inc. (NYSE:FLO – Free Report) by 10.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 56,300 shares of the company’s stock after acquiring an additional 5,300 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Flowers Foods were worth $1,401,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Fortis Capital Advisors LLC acquired a new position in Flowers Foods during the 4th quarter worth approximately $30,000. Altshuler Shaham Ltd bought a new stake in shares of Flowers Foods during the 1st quarter worth approximately $41,000. EverSource Wealth Advisors LLC raised its stake in shares of Flowers Foods by 313.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,098 shares of the company’s stock worth $58,000 after purchasing an additional 1,591 shares in the last quarter. CWM LLC raised its stake in shares of Flowers Foods by 18.8% during the 1st quarter. CWM LLC now owns 2,314 shares of the company’s stock worth $63,000 after purchasing an additional 367 shares in the last quarter. Finally, Janiczek Wealth Management LLC raised its stake in shares of Flowers Foods by 14.9% during the 1st quarter. Janiczek Wealth Management LLC now owns 3,347 shares of the company’s stock worth $90,000 after purchasing an additional 434 shares in the last quarter. Institutional investors and hedge funds own 78.55% of the company’s stock.

Flowers Foods Stock Down 0.8 %

FLO opened at $21.71 on Wednesday. Flowers Foods, Inc. has a 1-year low of $21.60 and a 1-year high of $30.16. The stock’s fifty day simple moving average is $23.74 and its 200 day simple moving average is $25.34. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 0.73. The stock has a market cap of $4.59 billion, a PE ratio of 20.68, a price-to-earnings-growth ratio of 8.10 and a beta of 0.43.

Flowers Foods (NYSE:FLO – Get Free Report) last posted its quarterly earnings data on Thursday, August 10th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.05. The firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Flowers Foods had a return on equity of 18.28% and a net margin of 4.47%. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.31 EPS. As a group, research analysts expect that Flowers Foods, Inc. will post 1.22 earnings per share for the current year.

Flowers Foods Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Thursday, August 31st. This represents a $0.92 annualized dividend and a dividend yield of 4.24%. Flowers Foods’s payout ratio is 87.62%.

Analyst Upgrades and Downgrades

FLO has been the topic of a number of analyst reports. Stephens reiterated an “equal weight” rating and set a $25.00 price objective on shares of Flowers Foods in a research note on Friday, August 11th. StockNews.com initiated coverage on Flowers Foods in a research note on Thursday, August 17th. They set a “buy” rating on the stock.

View Our Latest Analysis on Flowers Foods

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.