Parallel Advisors LLC Has $682,000 Position in Flowers Foods, Inc. (NYSE:FLO)

Parallel Advisors LLC increased its holdings in shares of Flowers Foods, Inc. (NYSE:FLO) by 22.0% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 30,703 shares of the company’s stock after purchasing an additional 5,532 shares during the period. Parallel Advisors LLC’s holdings in Flowers Foods were worth $682,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Flowers Foods in the first quarter valued at approximately $2,224,000. Capstone Investment Advisors LLC bought a new stake in Flowers Foods in the 1st quarter valued at $2,422,000. Armistice Capital LLC acquired a new stake in Flowers Foods in the 4th quarter worth $839,000. Southeast Asset Advisors Inc. increased 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 purchasing an additional 125,761 shares during the period. Finally, Norges Bank acquired a new position in shares of Flowers Foods during the fourth quarter valued at about $26,016,000. Institutional investors own 75.45% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on FLO shares. StockNews.com upgraded Flowers Foods from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, September 10th. BNP Paribas started coverage on Flowers Foods in a research report on Wednesday, July 10th. They set an “underperform” rating and a $20.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Flowers Foods presently has an average rating of “Hold” and an average target price of $22.75.

Flowers Foods Stock Up 1.9 %

Shares of NYSE FLO opened at $23.62 on Tuesday. Flowers Foods, Inc. has a 12-month low of $19.64 and a 12-month high of $26.12. The firm’s 50-day simple moving average is $22.66 and its 200 day simple moving average is $23.13. The company has a quick ratio of 0.91, a current ratio of 1.19 and a debt-to-equity ratio of 0.77. The company has a market cap of $4.99 billion, a price-to-earnings ratio of 40.03, a price-to-earnings-growth ratio of 4.36 and a beta of 0.36.

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

Flowers Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be paid a dividend of $0.24 per share. The ex-dividend date is Friday, September 6th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.06%. Flowers Foods’s dividend payout ratio (DPR) is presently 162.71%.

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.