Truist Financial Lowers Flowers Foods (NYSE:FLO) Price Target to $20.00

Flowers Foods (NYSE:FLO) had its price target cut by Truist Financial from $23.00 to $20.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Truist Financial’s target price suggests a potential upside of 4.90% from the stock’s previous close.

Separately, 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 data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $22.00.

Flowers Foods Stock Performance

Shares of NYSE FLO opened at $19.07 on Monday. The company has a quick ratio of 0.95, a current ratio of 1.24 and a debt-to-equity ratio of 0.75. The firm’s 50-day moving average price is $20.36 and its two-hundred day moving average price is $21.87. Flowers Foods has a 52-week low of $18.85 and a 52-week high of $26.12. The stock has a market capitalization of $4.02 billion, a P/E ratio of 16.72, a P/E/G ratio of 3.74 and a beta of 0.38.

Flowers Foods (NYSE:FLO) last announced its quarterly earnings results on Friday, February 7th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.01. Flowers Foods had a return on equity of 19.41% and a net margin of 4.70%. During the same period in the prior year, the business posted $0.20 EPS. As a group, sell-side analysts forecast that Flowers Foods will post 1.27 earnings per share for the current year.

Institutional Investors Weigh In On Flowers Foods

Hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its stake in Flowers Foods by 6.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,159,076 shares of the company’s stock valued at $95,971,000 after buying an additional 259,216 shares during the period. SG Americas Securities LLC increased its stake in shares of Flowers Foods by 642.6% during the fourth quarter. SG Americas Securities LLC now owns 113,637 shares of the company’s stock valued at $2,348,000 after acquiring an additional 98,335 shares during the period. Jane Street Group LLC raised its holdings in Flowers Foods by 85.0% during the third quarter. Jane Street Group LLC now owns 72,886 shares of the company’s stock worth $1,681,000 after purchasing an additional 33,480 shares in the last quarter. KBC Group NV lifted its position in Flowers Foods by 2,156.0% in the fourth quarter. KBC Group NV now owns 136,354 shares of the company’s stock worth $2,817,000 after purchasing an additional 130,310 shares during the period. Finally, Nordea Investment Management AB acquired a new position in shares of Flowers Foods during the 4th quarter valued at $4,461,000. 75.45% of the stock is currently owned by institutional investors.

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.