Flowers Foods, Inc. (NYSE:FLO) Announces $0.24 Quarterly Dividend

Flowers Foods, Inc. (NYSE:FLO) declared a quarterly dividend on Friday, November 15th,RTT News reports. Investors of record on Friday, November 29th will be paid a dividend of 0.24 per share on Friday, December 13th. This represents a $0.96 annualized dividend and a yield of 4.45%.

Flowers Foods has raised its dividend payment by an average of 4.8% annually over the last three years and has increased its dividend annually for the last 23 consecutive years. Flowers Foods has a payout ratio of 73.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Flowers Foods to earn $1.31 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 73.3%.

Flowers Foods Stock Down 1.2 %

FLO stock opened at $21.57 on Friday. The stock has a market capitalization of $4.54 billion, a price-to-earnings ratio of 18.92, a price-to-earnings-growth ratio of 4.12 and a beta of 0.36. The company has a 50-day moving average of $22.68 and a two-hundred day moving average of $22.92. Flowers Foods has a 52-week low of $20.50 and a 52-week high of $26.12. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.24 and a quick ratio of 0.91.

Flowers Foods (NYSE:FLO) last announced its earnings results on Friday, November 8th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.03. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.20 billion. Flowers Foods had a return on equity of 19.41% and a net margin of 4.70%. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.29 EPS. As a group, equities research analysts anticipate that Flowers Foods will post 1.27 EPS for the current year.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Flowers Foods from a “buy” rating to a “strong-buy” rating in a research report on Monday, November 11th.

About Flowers Foods

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.