Flowers Foods (FLO) Said Mentioned Cautiously at Hedgeye
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Jefferies Cuts Price Target on Flowers Foods (FLO) Following 2Q Results
August 11, 2016 8:27 AM EDTJefferies reiterated a Buy rating on Flowers Foods (NYSE: FLO), and cut the price target to $20.00 (from $23.00), following the company's 2Q earnings report. 2Q16 sales of $935M were $11M or 1% below consensus. SG&A expenses were lower than expected resulting in a... More
Flowers Foods (FLO) Notified of Compliance Review Under Fair Labor Standards Act
August 10, 2016 9:16 AM EDTFlowers Foods (NYSE: FLO) disclosed in an SEC filing:
On the afternoon of August 9, 2016, the U.S. Department of Labor (the Department) notified Flowers Foods, Inc. (the company) that it has been scheduled for a compliance review under the Fair Labor Standards Act. The... More
Flowers Foods (FLO) Says It's Unaware of Investigation by Department of Labor - Bloomberg
August 8, 2016 3:16 PM EDTFlowers Foods (NYSE: FLO) said that it's unaware of any investigation by the Department of Labor into its independent distributor program, according to Bloomberg.
Earlier the topic was discussed in a note at Pivotal Research.
Flowers Foods (FLO) May Have Undisclosed Investigation by DOL, Says Pivotal Research
August 8, 2016 9:01 AM EDTPivotal Research maintained a Sell rating on Flowers Foods (NYSE: FLO) with a price target of $8. Analyst Timothy S. Ramey believes the company is under investigation by the Department of Labor.
Ramey explained, "We have made several FOIA requests of the Department of Labor, Wage and Hour Division regarding any investigations of Flowers Foods. As recently as July 12th on a request for information dated June 10th 2016, the file was unresponsive. Today we received a response to a FOIA request, which cites the 7(A) exemption the DOL was unresponsive because such information may... More
