Corebridge Financial Inc. Sells 9,986 Shares of Flowers Foods, Inc. (NYSE:FLO)

Corebridge Financial Inc. reduced its position in Flowers Foods, Inc. (NYSE:FLO) by 4.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 221,557 shares of the company’s stock after selling 9,986 shares during the period. Corebridge Financial Inc.’s holdings in Flowers Foods were worth $4,577,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FLO. Charles Schwab Investment Management Inc. raised its stake in shares of Flowers Foods by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,008,103 shares of the company’s stock worth $46,327,000 after purchasing an additional 58,141 shares during the last quarter. Cerity Partners LLC increased its holdings in Flowers Foods by 15.5% in the 3rd quarter. Cerity Partners LLC now owns 23,596 shares of the company’s stock worth $544,000 after buying an additional 3,173 shares in the last quarter. D.A. Davidson & CO. raised its position in Flowers Foods by 4.4% in the 3rd quarter. D.A. Davidson & CO. now owns 11,819 shares of the company’s stock worth $273,000 after buying an additional 500 shares during the last quarter. FMR LLC lifted its stake in Flowers Foods by 12.3% during the 3rd quarter. FMR LLC now owns 28,099 shares of the company’s stock valued at $648,000 after acquiring an additional 3,080 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Flowers Foods by 94.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 180,227 shares of the company’s stock valued at $4,158,000 after acquiring an additional 87,654 shares during the last quarter. 75.45% of the stock is owned by institutional investors.

Flowers Foods Trading Up 0.1 %

Shares of Flowers Foods stock opened at $18.87 on Monday. Flowers Foods, Inc. has a 1-year low of $17.95 and a 1-year high of $26.12. The company’s fifty day simple moving average is $18.98 and its 200-day simple moving average is $20.84. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.20 and a quick ratio of 0.95. The stock has a market capitalization of $3.98 billion, a PE ratio of 16.12, a P/E/G ratio of 8.72 and a beta of 0.41.

Flowers Foods (NYSE:FLO) last released its earnings results on Friday, February 7th. The company reported $0.22 earnings per share 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 prior year, the firm earned $0.20 EPS. As a group, equities analysts anticipate that Flowers Foods, Inc. will post 1.18 earnings per share for the current year.

Flowers Foods Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 5.09%. The ex-dividend date of this dividend was Friday, February 28th. Flowers Foods’s dividend payout ratio is 82.05%.

Analyst Upgrades and Downgrades

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