Flowers Foods, Inc. (NYSE:FLO) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lowered its holdings in shares of Flowers Foods, Inc. (NYSE:FLO) by 90.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 48,950 shares of the company’s stock after selling 467,325 shares during the period. Victory Capital Management Inc.’s holdings in Flowers Foods were worth $1,087,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of FLO. Mirae Asset Global Investments Co. Ltd. acquired a new position in Flowers Foods in the first quarter valued at $2,224,000. Capstone Investment Advisors LLC purchased a new stake in Flowers Foods in the 1st quarter valued at about $2,422,000. Armistice Capital LLC acquired a new position in shares of Flowers Foods during the 4th quarter valued at about $839,000. Southeast Asset Advisors Inc. lifted its holdings in shares of Flowers Foods by 4.0% during the 4th quarter. Southeast Asset Advisors Inc. now owns 3,276,549 shares of the company’s stock worth $73,755,000 after acquiring an additional 125,761 shares during the period. Finally, Norges Bank purchased a new position in shares of Flowers Foods during the 4th quarter worth about $26,016,000. Hedge funds and other institutional investors own 75.45% of the company’s stock.

Flowers Foods Trading Down 1.4 %

Shares of FLO opened at $23.44 on Friday. Flowers Foods, Inc. has a 12 month low of $19.64 and a 12 month high of $26.12. The stock’s 50-day moving average is $22.83 and its two-hundred day moving average is $23.16. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.19 and a quick ratio of 0.91. The stock has a market cap of $4.95 billion, a PE ratio of 39.73, a P/E/G ratio of 4.36 and a beta of 0.36.

Flowers Foods (NYSE:FLO) last released its quarterly earnings results on Friday, August 16th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.33 by $0.03. Flowers Foods had a return on equity of 18.97% and a net margin of 2.51%. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same period in the previous year, the company posted $0.33 EPS. Flowers Foods’s revenue for the quarter was down .3% on a year-over-year basis. Equities analysts forecast that Flowers Foods, Inc. will post 1.26 earnings per share for the current fiscal year.

Flowers Foods Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.96 annualized dividend and a dividend yield of 4.10%. Flowers Foods’s dividend payout ratio is presently 162.71%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FLO. BNP Paribas started coverage on shares of Flowers Foods in a research note on Wednesday, July 10th. They set an “underperform” rating and a $20.00 price objective for the company. StockNews.com downgraded Flowers Foods from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Flowers Foods currently has a consensus rating of “Hold” and a consensus target price of $22.75.

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.