Flowers Foods (FLO) reported quarterly earnings results on Wednesday, Aug-10-2016. The company reported $0.26 EPS for the quarter. Analysts had a consensus estimate of $0.26. The company posted revenue of $935.00 million in the period, 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 was Initiated by KeyBanc Capital Mkts to “Sector Weight” on May 26, 2016.
Flowers Foods closed down -0.25 points or -1.40% at $17.64 with 24,84,299 shares getting traded on Monday. Post opening the session at $17.89, the shares hit an intraday low of $17.551 and an intraday high of $17.9 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on Jul 1, 2016, Robert L Jr Benton (SVP/ChiefManufacturingOfficer) sold 12,065 shares at $18.47 per share price. According to the SEC, on Jun 29, 2016, Karyl H Lauder (SVP & Chief Accounting Officer) sold 23,500 shares at $17.96 per share price. On Jun 7, 2016, Joseph G Tashie (President – Flowers Cake Group) sold 24,800 shares at $18.69 per share price, according to the Form-4 filing with the securities and exchange commission.
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.