Fenimore Asset Management Inc buys $23,938,942 stake in Flowers Foods (FLO)

Flowers Foods (FLO) : Fenimore Asset Management Inc scooped up 164,845 additional shares in Flowers Foods during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 12, 2016. The investment management firm now holds a total of 1,591,685 shares of Flowers Foods which is valued at $23,938,942.Flowers Foods makes up approximately 1.17% of Fenimore Asset Management Inc’s portfolio.

Other Hedge Funds, Including , Creative Planning boosted its stake in FLO in the latest quarter, The investment management firm added 313 additional shares and now holds a total of 8,772 shares of Flowers Foods which is valued at $131,931.Cutler Group Lp boosted its stake in FLO in the latest quarter, The investment management firm added 28,064 additional shares and now holds a total of 28,464 shares of Flowers Foods which is valued at $430,091. Flowers Foods makes up approx 0.03% of Cutler Group Lp’s portfolio. First Mercantile Trust Co sold out all of its stake in FLO during the most recent quarter. The investment firm sold 18,700 shares of FLO which is valued $275,077.Bnp Paribas Arbitrage Sa reduced its stake in FLO by selling 40,025 shares or 50.64% in the most recent quarter. The Hedge Fund company now holds 39,018 shares of FLO which is valued at $584,099.Bath Savings Trust Co reduced its stake in FLO by selling 20,311 shares or 44.67% in the most recent quarter. The Hedge Fund company now holds 25,153 shares of FLO which is valued at $376,540. Flowers Foods makes up approx 0.12% of Bath Savings Trust Co’s portfolio.

Flowers Foods closed down -0.07 points or -0.46% at $15.04 with 20,37,751 shares getting traded on Tuesday. Post opening the session at $15.14, the shares hit an intraday low of $14.95 and an intraday high of $15.18 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Flowers Foods reported $0.26 EPS for the quarter, based on the information available during the earnings call on Aug 10, 2016. Analyst had a consensus estimate of $0.26. The company had revenue of $935.00 million for the quarter, compared to analysts expectations of $946.44 million. The company’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 EPS.

Many Wall Street Analysts have commented on Flowers Foods. Shares were Reiterated by Pivotal Research Group on Aug 10, 2016 to “Sell” and Lowered the Price Target to $ 4 from a previous price target of $8 .

Flowers Foods Inc. (Flowers) is a producer and marketer of a line of bakery products on a national and super-regional basis. The Company operates in two segments: a direct-store-delivery segment (DSD Segment) and a warehouse delivery segment (Warehouse Segment). The DSD Segment operates 38 bakeries that market a variety of fresh bakery foods including breads buns rolls tortillas and snack cakes. The Warehouse Segment produces frozen bread and rolls and snack products. It operates eight bakeries that produce snack cakes breads and rolls for national retail foodservice vending and co-pack customers which are delivered through customers’ warehouse channels and one bakery mix plant. The company operates 46 bakeries of which 44 are owned and two are leased and one mix plant.

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