12 Best Stocks to Buy Now for Passive Income

7. Flowers Foods, Inc. (NYSE:FLO)

Number of Hedge Fund Holders: 32

Flowers Foods, Inc. (NYSE:FLO) is among the largest packaged baked goods producers in the US, delivering breads, rolls, snack cakes, and specialty items to retailers nationwide. Its strength lies in popular brands like Nature’s Own and Dave’s Killer Bread, which lead in mainstream and organic bread categories. While it also handles private label and foodservice, branded retail drives most of its growth and sets it apart.

Lately, Flowers Foods, Inc. (NYSE:FLO) has been reshaping its portfolio, upgrading digital systems, and expanding into health-focused and higher-growth product areas. Acquisitions— such as Simple Mills— play a key role in attracting health-conscious and value-driven customers. The company’s performance hinges on strong branding, smart pricing and product strategies, cost discipline, and its ability to keep pace with evolving consumer preferences and market competition.

On August 22, Flowers Foods, Inc. (NYSE:FLO) declared a quarterly dividend of $0.2475 per share, which was in line with its previous dividend. Overall, the company has raised its payouts for 23 consecutive years, which makes it one of the best stocks for passive income. The stock has a dividend yield of 7.54%, as of September 22.