Bank of America Corp DE acquired 2,299,753 shares of Flowers Foods, Inc. This new stake represents 1.08% of the company and is valued at approximately $18.17 million. Institutional investors now collectively hold 75.45% of the company's stock.
The purchase contrasts with an average Reduce rating from analysts. Market experts maintain a consensus price target of $7.60 for the stock.
Flowers Foods recently reported quarterly results that missed both EPS and revenue estimates. Revenue declined 4% year-over-year during the latest quarter. On September 25th, the company paid a quarterly dividend of $0.125 per share.