Flowers Foods, Inc. (NYSE:FLO) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp lessened its position in Flowers Foods, Inc. (NYSE:FLO) by 35.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 40,767 shares of the company’s stock after selling 22,484 shares during the period. Mackenzie Financial Corp’s holdings in Flowers Foods were worth $918,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Vontobel Holding Ltd. acquired a new stake in shares of Flowers Foods in the 4th quarter worth about $737,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Flowers Foods in the 4th quarter worth about $294,000. Louisiana State Employees Retirement System acquired a new stake in shares of Flowers Foods in the 4th quarter worth about $1,216,000. Tennessee Valley Asset Management Partners acquired a new stake in shares of Flowers Foods in the 4th quarter worth about $50,000. Finally, Cerity Partners LLC grew its position in Flowers Foods by 10.3% in the 4th quarter. Cerity Partners LLC now owns 88,525 shares of the company’s stock valued at $1,993,000 after buying an additional 8,241 shares in the last quarter. Institutional investors and hedge funds own 75.45% of the company’s stock.

Flowers Foods Stock Performance

Shares of FLO opened at $24.89 on Friday. Flowers Foods, Inc. has a 52-week low of $19.64 and a 52-week high of $29.10. The company has a quick ratio of 0.76, a current ratio of 1.04 and a debt-to-equity ratio of 0.78. The firm has a 50-day moving average price of $23.16 and a 200 day moving average price of $22.40. The firm has a market capitalization of $5.25 billion, a PE ratio of 42.91, a P/E/G ratio of 4.67 and a beta of 0.39.

Flowers Foods (NYSE:FLO) last posted its quarterly earnings data on Friday, February 9th. The company reported $0.20 earnings per share for the quarter, meeting the consensus estimate of $0.20. Flowers Foods had a net margin of 2.42% and a return on equity of 18.15%. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter last year, the firm posted $0.23 EPS. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, sell-side analysts anticipate that Flowers Foods, Inc. will post 1.25 earnings per share for the current fiscal year.

Flowers Foods Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.23 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.92 annualized dividend and a dividend yield of 3.70%. Flowers Foods’s dividend payout ratio (DPR) is 158.62%.

Insider Activity

In other news, insider Terry S. Thomas sold 36,577 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $23.11, for a total transaction of $845,294.47. Following the completion of the transaction, the insider now owns 42,740 shares in the company, valued at approximately $987,721.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Flowers Foods news, insider Terry S. Thomas sold 36,577 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $23.11, for a total transaction of $845,294.47. Following the completion of the sale, the insider now directly owns 42,740 shares of the company’s stock, valued at $987,721.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Edward J. Jr. Casey acquired 5,000 shares of Flowers Foods stock in a transaction on Tuesday, April 2nd. The shares were purchased at an average cost of $23.55 per share, with a total value of $117,750.00. Following the completion of the purchase, the director now directly owns 20,330 shares of the company’s stock, valued at approximately $478,771.50. The disclosure for this purchase can be found here. Insiders own 11.49% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. StockNews.com upgraded shares of Flowers Foods from a “hold” rating to a “buy” rating in a research report on Tuesday, April 9th. DA Davidson assumed coverage on shares of Flowers Foods in a research report on Friday, March 1st. They issued a “neutral” rating and a $24.00 target price for the company. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $24.00.

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.