Flowers Foods (FLO) has a market cap of $3.6 billion. It rose 3.5% to close at $19.67 per share on December 15, 2016. The stock’s weekly, monthly, and year-to-date (or YTD) price movements were 15.5%, 23.8%, and -4.9%, respectively, on the same day.
FLO is trading 19.2% above its 20-day moving average, 25.2% above its 50-day moving average, and 16.7% above its 200-day moving average.
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On December 15, 2016, KeyBanc Capital Markets has upgraded Flowers Foods’s rating to “overweight” from “sector weight” and also set the stock’s price target at $23.00 per share.
Performance of Flowers Foods in fiscal 3Q16
Flowers Foods (FLO) reported fiscal 3Q16 sales of $918.8 million, a YoY (year-over-year) rise of 3.8% over $885.3 million in fiscal 3Q15. These higher sales were a result of acquisitions, a rise in the price-to-mix ratio, and a fall in volume.
Sales from direct store delivery and warehouse delivery rose 3.0% and 7.8%, respectively, between fiscal 3Q15 and fiscal 3Q16. The company also reported a pension plan settlement loss of $1.8 million in fiscal 3Q16. Its income from operations fell 70 basis points.
Flowers Foods’s net income and EPS (earnings per share) fell to $40.2 million and $0.19, respectively, in fiscal 3Q16 compared to $43.8 million and $0.21 in fiscal 3Q15. It reported adjusted EBITDA[1. earnings before interest, tax, depreciation, and amortization] and adjusted EPS of $101.7 million and $0.21, respectively, in fiscal 3Q16. That’s a YoY fall of 3.0% and 8.7%, respectively, from fiscal 3Q15.