M&T Bank Corp Sells 608 Shares of Flowers Foods, Inc. (NYSE:FLO)

M&T Bank Corp reduced its holdings in Flowers Foods, Inc. (NYSE:FLO) by 4.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,865 shares of the company’s stock after selling 608 shares during the quarter. M&T Bank Corp’s holdings in Flowers Foods were worth $266,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in FLO. Brooklyn Investment Group increased its holdings in Flowers Foods by 171.8% in the fourth quarter. Brooklyn Investment Group now owns 2,623 shares of the company’s stock worth $54,000 after purchasing an additional 1,658 shares in the last quarter. Blue Trust Inc. increased its holdings in Flowers Foods by 34.4% in the fourth quarter. Blue Trust Inc. now owns 2,713 shares of the company’s stock worth $56,000 after purchasing an additional 694 shares in the last quarter. Quent Capital LLC increased its holdings in Flowers Foods by 104.2% in the fourth quarter. Quent Capital LLC now owns 3,049 shares of the company’s stock worth $63,000 after purchasing an additional 1,556 shares in the last quarter. Quest Partners LLC grew its stake in Flowers Foods by 329,400.0% in the third quarter. Quest Partners LLC now owns 3,295 shares of the company’s stock valued at $76,000 after acquiring an additional 3,294 shares during the period. Finally, KBC Group NV grew its stake in Flowers Foods by 23.2% in the third quarter. KBC Group NV now owns 6,044 shares of the company’s stock valued at $139,000 after acquiring an additional 1,140 shares during the period. 75.45% of the stock is currently owned by institutional investors.

Flowers Foods Stock Down 0.8 %

Shares of NYSE:FLO opened at $18.39 on Friday. The stock has a market cap of $3.88 billion, a price-to-earnings ratio of 15.71, a PEG ratio of 8.72 and a beta of 0.41. The company has a quick ratio of 0.95, a current ratio of 1.20 and a debt-to-equity ratio of 0.72. Flowers Foods, Inc. has a 12-month low of $17.99 and a 12-month high of $26.12. The business’s 50 day moving average is $19.20 and its 200 day moving average is $21.19.

Flowers Foods (NYSE:FLO) last announced its earnings results on Friday, February 7th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.01. Flowers Foods had a return on equity of 19.48% and a net margin of 4.86%. During the same quarter in the previous year, the business earned $0.20 EPS. On average, sell-side analysts forecast that Flowers Foods, Inc. will post 1.18 earnings per share for the current fiscal year.

Flowers Foods Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.24 per share. The ex-dividend date was Friday, February 28th. This represents a $0.96 annualized dividend and a dividend yield of 5.22%. Flowers Foods’s payout ratio is 82.05%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on FLO shares. StockNews.com cut Flowers Foods from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 20th. Truist Financial reduced their price objective on Flowers Foods from $23.00 to $20.00 and set a “hold” rating for the company in a research note on Monday, February 10th. Finally, DA Davidson reduced their price objective on Flowers Foods from $24.00 to $21.00 and set a “neutral” rating for the company in a research note on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $21.00.

Flowers Foods Company 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.