5 Best Food Dividend Stocks to Buy Now

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

Dividend Yield as of November 2: 3.11%

Flowers Foods, Inc. (NYSE:FLO) is a Georgia-based producer and marketer of packed bakery foods and operates over 47 bakeries across the country. The company is one of the best dividend stocks on our list as it has been raising its payouts consistently for the past 20 years. Currently, it pays a quarterly dividend of $0.22 per share and has a dividend yield of 3.11%, as of November 2.

During the first half of 2022, Flowers Foods, Inc. (NYSE:FLO) paid over $93.4 million to shareholders in dividends, compared with $89 million paid six months ago. The company reported $162.5 million in cash and cash equivalents at the end of the second quarter. Its revenue for the quarter came in at $1.13 billion, up 10.8% from the same period last year.

As of the close of Q2 2022, 24 hedge funds in Insider Monkey’s database owned stakes in Flowers Foods, Inc. (NYSE:FLO), compared with 25 a quarter earlier. These stakes have a collective value of $327.7 million. Renaissance Technologies owned the largest position in the company in Q2.

Chartwell Investment Partners mentioned Flowers Foods, Inc. (NYSE:FLO) in its Q2 2022 investor letter. Here is what the firm has to say:

“Value based stocks outperformed stocks with higher price-to-earnings ratios (“P/E”)*****, with large growth stocks being the worst performers this quarter; the Russell 1000 Growth index fell 20.9%. The three best performers for Q2 in the Growth and Balanced accounts includes Flowers Foods, Inc. (NYSE:FLO, 2.7%)****, up 3.3%. Flowers is a primarily baked-goods company with strong revenue growth.”