Jefferies Sticks to Its Hold Rating for Flowers Foods

By Carrie Williams

Jefferies analyst Akshay Jagdale reiterated a Hold rating on Flowers Foods (NYSE: FLO) yesterday and set a price target of $19. The company’s shares opened today at $17.37.

According to TipRanks.com, Jagdale is a 3-star analyst with an average return of 1.5% and a 48.9% success rate. Jagdale covers the Consumer Goods sector, focusing on stocks such as Keurig Green Mountain, Amplify Snack Brands, and Lamb Weston Holdings.

Flowers Foods has an analyst consensus of Hold, with a price target consensus of $18.33.

Based on Flowers Foods’ latest earnings report for the quarter ending July 31, the company posted quarterly revenue of $927 million and quarterly net profit of $44.74 million. In comparison, last year the company earned revenue of $935 million and had a net profit of $51.16 million.

Based on the recent corporate insider activity of 61 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of FLO in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Flowers Foods, Inc. engages in the manufacture and sale of bakery products. It operates through the Direct-Store-Delivery (DSD) and Warehouse Delivery segments. The DSD segment produces fresh breads, buns, rolls, tortillas, and cakes sold primarily by a network of independent distributors to retail and foodservice customers.