Parallel Advisors LLC Grows Stock Holdings in Flowers Foods, Inc. (NYSE:FLO)

Parallel Advisors LLC increased its stake in shares of Flowers Foods, Inc. (NYSE:FLO) by 11.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,564 shares of the company’s stock after purchasing an additional 2,908 shares during the period. Parallel Advisors LLC’s holdings in Flowers Foods were worth $590,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in FLO. Brooklyn Investment Group increased its holdings in Flowers Foods by 171.8% during the fourth quarter. Brooklyn Investment Group now owns 2,623 shares of the company’s stock valued at $54,000 after buying an additional 1,658 shares during the last quarter. Blue Trust Inc. increased its holdings in Flowers Foods by 34.4% during the fourth quarter. Blue Trust Inc. now owns 2,713 shares of the company’s stock valued at $56,000 after buying an additional 694 shares during the last quarter. Quent Capital LLC increased its holdings in Flowers Foods by 104.2% during the fourth quarter. Quent Capital LLC now owns 3,049 shares of the company’s stock valued at $63,000 after buying an additional 1,556 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Flowers Foods by 67.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,276 shares of the company’s stock valued at $68,000 after buying an additional 1,323 shares during the last quarter. Finally, Quest Partners LLC increased its holdings in Flowers Foods by 329,400.0% during the third quarter. Quest Partners LLC now owns 3,295 shares of the company’s stock valued at $76,000 after buying an additional 3,294 shares during the last quarter. 75.45% of the stock is owned by hedge funds and other institutional investors.

Flowers Foods Stock Performance

FLO opened at $18.16 on Friday. The firm has a market cap of $3.83 billion, a P/E ratio of 15.52, a PEG ratio of 8.72 and a beta of 0.41. Flowers Foods, Inc. has a 1-year low of $17.98 and a 1-year high of $26.12. The company has a 50 day simple moving average of $19.07 and a two-hundred day simple moving average of $21.08. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.20 and a quick ratio of 0.95.

Flowers Foods (NYSE:FLO) last issued its earnings results on Friday, February 7th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. Flowers Foods had a net margin of 4.86% and a return on equity of 19.48%. During the same quarter last year, the business earned $0.20 earnings per share. Equities analysts forecast that Flowers Foods, Inc. will post 1.18 earnings per share for the current fiscal year.

Flowers Foods Announces Dividend

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 of this dividend was Friday, February 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.29%. Flowers Foods’s dividend payout ratio is 82.05%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. DA Davidson reduced their target price on shares of Flowers Foods from $24.00 to $21.00 and set a “neutral” rating for the company in a report on Monday, February 10th. Truist Financial dropped their price target on shares of Flowers Foods from $23.00 to $20.00 and set a “hold” rating for the company in a research report on Monday, February 10th. Finally, StockNews.com lowered shares of Flowers Foods from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Flowers Foods currently has a consensus rating of “Hold” and a consensus target price of $21.00.

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.