Versant Capital Management Inc Has $66,000 Stake in Flowers Foods, Inc. (NYSE:FLO)

Versant Capital Management Inc lifted its position in shares of Flowers Foods, Inc. (NYSE:FLO) by 7,694.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,962 shares of the company’s stock after acquiring an additional 2,924 shares during the quarter. Versant Capital Management Inc’s holdings in Flowers Foods were worth $66,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of FLO. Ballentine Partners LLC acquired a new stake in shares of Flowers Foods during the 4th quarter valued at $244,000. Asset Management One Co. Ltd. raised its position in Flowers Foods by 1.9% during the 4th quarter. Asset Management One Co. Ltd. now owns 168,079 shares of the company’s stock worth $3,778,000 after purchasing an additional 3,105 shares during the last quarter. Ceredex Value Advisors LLC bought a new position in Flowers Foods during the 4th quarter worth $11,518,000. Allspring Global Investments Holdings LLC raised its position in shares of Flowers Foods by 64.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,082,210 shares of the company’s stock worth $24,361,000 after acquiring an additional 425,988 shares in the last quarter. Finally, Financial Connections Group Inc. bought a new position in shares of Flowers Foods in the 4th quarter worth about $30,000. Institutional investors and hedge funds own 75.45% of the company’s stock.

Flowers Foods Stock Up 1.3 %

FLO stock traded up $0.29 during mid-day trading on Tuesday, reaching $22.57. 1,396,586 shares of the company traded hands, compared to its average volume of 1,233,686. The stock has a market cap of $4.77 billion, a price-to-earnings ratio of 38.25, a P/E/G ratio of 5.84 and a beta of 0.36. The company has a quick ratio of 0.82, a current ratio of 1.11 and a debt-to-equity ratio of 0.76. Flowers Foods, Inc. has a fifty-two week low of $19.64 and a fifty-two week high of $26.33. The firm’s 50 day moving average price is $22.39 and its 200 day moving average price is $23.09.

Flowers Foods (NYSE:FLO) last announced its earnings results on Thursday, May 16th. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.02). Flowers Foods had a return on equity of 18.35% and a net margin of 2.45%. The business had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter in the previous year, the firm earned $0.38 EPS. Flowers Foods’s quarterly revenue was up 2.8% on a year-over-year basis. As a group, equities research analysts predict that Flowers Foods, Inc. will post 1.23 EPS for the current fiscal year.

Flowers Foods Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, June 6th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date was Thursday, June 6th. This is a boost from Flowers Foods’s previous quarterly dividend of $0.23. Flowers Foods’s payout ratio is 162.71%.

Wall Street Analysts Forecast Growth

FLO has been the subject of several research analyst reports. BNP Paribas initiated coverage on Flowers Foods in a research report on Wednesday, July 10th. They issued an “underperform” rating and a $20.00 price objective for the company. Deutsche Bank Aktiengesellschaft lifted their price objective on Flowers Foods from $22.00 to $23.00 and gave the stock a “hold” rating in a research report on Thursday, May 9th. StockNews.com raised Flowers Foods from a “hold” rating to a “buy” rating in a research report on Saturday, May 25th. Finally, DA Davidson lifted their price objective on Flowers Foods from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, May 17th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $23.20.

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.