Jolley Asset Management buys $3,496,167 stake in Flowers Foods (FLO)

Flowers Foods (FLO) : Jolley Asset Management scooped up 36,279 additional shares in Flowers Foods during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 17, 2016. The investment management firm now holds a total of 230,011 shares of Flowers Foods which is valued at $3,496,167.Flowers Foods makes up approximately 2.88% of Jolley Asset Management’s portfolio.

Other Hedge Funds, Including , Howe Rusling Inc added FLO to its portfolio by purchasing 179 company shares during the most recent quarter which is valued at $2,721.Msi Financial Services Inc boosted its stake in FLO in the latest quarter, The investment management firm added 806 additional shares and now holds a total of 2,700 shares of Flowers Foods which is valued at $40,122.Marshwinds Advisory Co boosted its stake in FLO in the latest quarter, The investment management firm added 400 additional shares and now holds a total of 76,062 shares of Flowers Foods which is valued at $1,130,281. Flowers Foods makes up approx 0.57% of Marshwinds Advisory Co’s portfolio. Edge Wealth Management added FLO to its portfolio by purchasing 500 company shares during the most recent quarter which is valued at $7,430.Oregon Public Employees Retirement Fund boosted its stake in FLO in the latest quarter, The investment management firm added 654 additional shares and now holds a total of 63,014 shares of Flowers Foods which is valued at $952,142. Flowers Foods makes up approx 0.02% of Oregon Public Employees Retirement Fund’s portfolio.

Flowers Foods opened for trading at $14.92 and hit $15.24 on the upside on Friday, eventually ending the session at $15.2, with a gain of 2.29% or 0.34 points. The heightened volatility saw the trading volume jump to 16,68,433 shares. Company has a market cap of $3,144 M.

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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