Gain detailed insights into the trading activity of Congress members for Flowers Foods on our government trades page. Stay updated on how elected officials are investing in FLO.

Flowers Foods - Government Trades

Flowers Foods

Flowers Foods Inc is an American company producing bakery food for retail and foodservice across the United States. The product portfolio includes fresh breads, buns, rolls, snack cakes, and tortillas. The company distributes to supermarkets, convenience stores, and restaurants. The key brands are Nature's Own, Whitewheat, Cobblestone Bread, Wonder, Dave's Killer Bread, Canyon Bakehouse, Mrs. Freshley's, and Tastykake.

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A truck driver hauling bread for a bakery is in the transportation business and is not a bakery worker, according to a recent U.S. Supreme Court decision in a closely watched case involving an aspect of the legal status of drivers.

The decision, written by Chief Justice John Roberts, was unanimous.

Supreme Court: Drivers Hauling Baked Goods Are in Transportation, Not Baking

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Flowers Foods Inc

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Flowers Foods Announces 4.3% Increase In Quarterly Dividend To $0.24 Per Share; Payable June 20, 2024, To Shareholders Of Record On June 6, 2024; Annualized Dividend Rate Raised To $0.96 Per Share From $0.92 Per Share Last Year

<p>DA Davidson  analyst Brian Holland   maintains Flowers Foods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLO#NYSE">FLO</a>) with a Neutral and raises the price target from $24 to $25.</p>


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DA Davidson Maintains Neutral on Flowers Foods, Raises Price Target to $25

Guidance

Flowers Foods Sees FY24 Adj. EPS $1.20-$1.30 Vs $1.24 Est.; Sales $5.091B-$5.172B Vs $5.16B est.

<p>Flowers Foods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLO#NYSE">FLO</a>) reported quarterly earnings of $0.38 per share which missed the analyst consensus estimate of $0.41 by 7.32 percent.  The company reported quarterly sales of $1.576 billion which missed the analyst consensus estimate of $1.579 billion by 0.18 percent.  This is a 2.74 percent increase over sales of $1.534 billion the same period last year.</p>


Earnings Misses

Flowers Foods Q1 2024 Adj EPS $0.38 Misses $0.41 Estimate, Sales $1.576B Miss $1.579B Estimate

<p>Deutsche Bank  analyst Steve Powers   maintains Flowers Foods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLO#NYSE">FLO</a>) with a Hold and raises the price target from $22 to $23.</p>


Deutsche Bank Maintains Hold on Flowers Foods, Raises Price Target to $23

<div>A truck driver hauling bread for a bakery is in the transportation business and is not a bakery worker, according to a recent U.S. Supreme Court decision in a closely watched case involving an aspect of the legal status of drivers.</div>

<p>The decision, written by Chief Justice John Roberts, was unanimous.</p>

<p>It overturned both a decision by the U.S. District Court for the District of Connecticut and an appellate decision by the 2nd U.S. Circuit Court of Appeals. They had ruled that the drivers, who were independent contractors delivering the products of <strong>Flowers Foods</strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/flo#NYSE">FLO</a>) in certain parts of Connecticut, were in the bakery business, not transportation.</p>

<p>If the lower court decisions — that the drivers who had secured the rights to those Nutmeg State routes, Neal Bissonnette and Tyler Wojnarowski, were in baking rather than transportation — had been upheld, they would need to settle their pay disputes with Flowers through arbitration under the Federal Arbitration Act (FAA).<br /><script type="text/javascript">
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<p>But the Supreme Court's April 12 ruling that they are in the transportation business opens the door for them to take the dispute to court.</p>

<p>That's because the FAA — in its very first section — exempts from its mandate several types of workers, such as railroad employees and "any other class of workers engaged in foreign or interstate commerce."</p>

<p>The District Court and the 2nd Circuit found that Bissonnette and  Wojnarowski, described in Roberts' decision as "franchisees" were involved in the bakery business rather than as transportation workers involved in "foreign or interstate commerce." Therefore, the exemption in the FAA did not apply, according to the lower courts.</p>

<p>But the Supreme Court did not agree.<br /><script type="text/javascript">
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<p>"A transportation worker need not work in the transportation industry to fall within the exemption from the FAA … provided in the Act" Roberts wrote. "The Second Circuit erred in compelling arbitration on the basis that petitioners work in the bakery industry."</p>

<p>This is the second time in two years that the Supreme Court has ruled on whether the FAA exemption applies only to workers who are employed by or working as a contractor for an entity that is clearly a transportation company.</p>

<p>In June 2022, the high court upheld a 7th Circuit appellate court decision in Southwest Airlines vs. Saxon that a ramp worker for <strong>Southwest</strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/luv#NYSE">LUV</a>) was involved in interstate commerce even though the worker, Latrice Saxon, did not actually transport goods. </p>

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<p>In the decision that the 7th Circuit overturned, the lower court had found Saxon was not involved in interstate commerce and was therefore mandated to take her complaints about wages to arbitration. The appellate decision reversed that and ruled she was a transportation worker, a ruling the Supreme Court affirmed.</p>

<p>The Saxon decision came soon after the original decision by the 2nd Circuit that Bissonnette and Wojnarowski were not involved in interstate commerce and therefore not able to claim the FAA exemption from mandatory arbitration. Post-Saxon, the court took another look at the issue and stuck to its original finding: The Flowers Food route franchisees were in the bakery business, not the transportation business, and needed to arbitrate their pay dispute with Flowers rather than take it to court.</p>

<p>Recapping legal arguments by Flowers — whose products include Wonder Bread and Tastykake — Roberts said the company had asserted that "virtually all workers who load or unload goods, from pet shop employees to grocery store clerks" could be viewed as being involved in interstate commerce and therefore exempt from arbitration under the FAA.</p>

<p>"We have never understood [the FAA] to define the class of exempt workers in such limitless terms" Roberts wrote in response. "To the contrary, as we held in Saxon, a transportation worker is one who is actively … engaged in transportation of goods across borders via the channels for foreign or interstate commerce."</p>

<p>To be exempt under the FAA, Roberts said in echoing Saxon, the worker "must at least play a direct and necessary role in the free flow of goods across borders."</p>

<div>
<p><span>"Does a pizza delivery company derive its revenue mainly from pizza or delivery?" he asked hypothetically.</span></p>
</div>

<h2 id="h-implications-for-even-bigger-players">The post <a href="https://www.freightwaves.com/news/supreme-court-drivers-hauling-baked-goods-are-in-transportation-not-baking">Supreme Court: Drivers hauling baked goods are in transportation, not baking</a> appeared first on <a href="https://www.freightwaves.com">FreightWaves</a>.</h2>

<p>Although U.S. stocks closed mixed on Wednesday, there were a few notable insider trades.</p>
<p>When insiders purchase shares, it indicates their confidence in the company&#39;s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.</p>
<p>Below is a look at a few recent notable insider purchases. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/"><em> Benzinga&#39;s insider transactions </em></a> platform.</p>
<h3><strong>Flowers Foods </strong></h3>
<ul>
<li><strong>The Trade:</strong> <strong> Flowers Foods, Inc.</strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/flo#NYSE">FLO</a>) Director Edward J.. Casey Jr <a href="https://www.benzinga.com/quote/FLO/analyst-ratings"><em> acquired a total of 5,000 shares </em></a> an average price of $23.55. To acquire these shares, it cost around $117,750.</li>
<li><strong>What&rsquo;s Happening:</strong> On Feb. 8, Flowers Foods posted downbeat quarterly earnings.</li>
<li><strong>What Flowers Foods Does:</strong> Flowers Foods Inc is an American company producing bakery food for retail and foodservice across the United States.</li>
</ul>
<h3><strong>Compass Diversified </strong></h3>
<ul>
<li><strong>The Trade:</strong> <strong> Compass Diversified </strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/codi#NYSE">CODI</a>) Ryan J Faulkingham acquired a total of 4,250 shares at an average price of $23.46. To acquire these shares, it cost around $99,725.</li>
<li><strong>What&rsquo;s Happening:</strong> On March 19, Citi Trends reported worse-than-expected fourth-quarter financial results.</li>
<li><strong>What Compass Diversified Does:</strong> Compass Diversified Holdings is a diversified business conglomerate based in the United States having two groups: branded consumer business and industrial business.</li>
</ul>
<p><em>Don&rsquo;t forget to check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a> </em></p>
<h3><strong>CVD Equipment </strong></h3>
<ul>
<li><strong>The Trade:</strong> <strong> CVD Equipment Corporation </strong> (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cvv#NASDAQ">CVV</a>) 10% owner ADA Partners, L.P. <a href="https://www.benzinga.com/sec/insider-trades/"><em> bought a total of 217,554 shares </em></a> at an average price of $5.02. To acquire these shares, it cost around $1.08 million.</li>
<li><strong>What&rsquo;s Happening:</strong> On March 28, CVD Equipment posted a loss for the fourth quarter.</li>
<li><strong>What CVD Equipment Does:</strong> CVD Equipment Corp is engaged in the manufacturing of chemical vapor deposition equipment, customized gas control systems, the manufacturing of process equipment suitable for the synthesis of a variety of one-dimensional nanostructures and nanomaterials and a line of furnaces, all of which are used to produce semiconductors and other electronic components.</li>
</ul>
<h3><strong>Ross Stores </strong></h3>
<ul>
<li><strong>The Trade:</strong> <strong> Ross Stores, Inc. </strong> (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rost#NASDAQ">ROST</a>) President, CMO DD&#39;S Discounts Karen Fleming <a href="https://www.benzinga.com/sec/insider-trades/"><em> bought a total of 3,482 shares </em></a> at an average price of $147.51. The insider spent around $5,230 to buy those shares.</li>
<li><strong>What&rsquo;s Happening:</strong> On March 5, Ross Stores reported better-than-expected fourth-quarter results.</li>
<li><strong>What Ross Stores Does:</strong> Ross Stores operates as an off-price apparel and accessories retailer with the majority of its sales derived from its Ross Dress for Less banner.</li>
</ul>
<p>&nbsp;</p>
<p>Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38067893/these-3-real-estate-stocks-with-over-3-dividend-yields-are-recommended-by-wall-streets-m"><em> These 3 Real Estate Stocks With Over 3% Dividend Yields Are Recommended By Wall Street&#39;s Most Accurate Analysts </em></a></p>
<p>&nbsp;</p>


<p>The Nasdaq 100 closed lower by around 150 points on Wednesday. Investors, meanwhile, focused on some notable insider trades.</p>
<p>When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company&rsquo;s prospects or that they view the stock as being overpriced. Insider sales should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision.</p>
<p>Below is a look at a few recent notable insider sales. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/"><em> Benzinga&#39;s insider transactions </em></a> platform.</p>
<h3><strong>Gap </strong></h3>
<ul>
<li><strong>The Trade:</strong> <strong> The Gap, Inc.</strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gps#NYSE">GPS</a>) Chief Legal &amp; Compliance Officer Julie Gruber <a href="https://www.benzinga.com/sec/insider-trades/"><em> sold a total of 24,180 shares </em></a> at an average price of $23.00. The insider received around $556,140 from selling those shares.</li>
<li><strong>What&rsquo;s Happening:</strong> On March 7, The Gap reported stronger-than-expected financial results for its fourth quarter.</li>
<li><strong>What Gap Does:</strong> Gap retails apparel, accessories, and personal-care products under the Gap, Old Navy, Banana Republic, and Athleta brands.</li>
</ul>
<p><em>Have a look at our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a> </em></p>
<h3><strong>Flowers Foods</strong></h3>
<ul>
<li><strong>The Trade:</strong> <strong> Flowers Foods, Inc. </strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/flo#NYSE">FLO</a>) Chief Growth Officer Terry S Thomas <a href="https://www.benzinga.com/sec/insider-trades/"><em> sold a total of 36,577 shares </em></a> at an average price of $23.11. The insider received around $845,162 from selling those shares.</li>
<li><strong>What&rsquo;s Happening:</strong> On Feb. 8, Flowers Foods posted downbeat quarterly earnings.</li>
<li><strong>What Flowers Foods Does:</strong> Flowers Foods Inc is an American company producing bakery food for retail and foodservice across the United States.</li>
</ul>
<h3><strong>BJ&#39;s Wholesale Club </strong></h3>
<ul>
<li><strong>The Trade:</strong> <strong> BJ&#39;s Wholesale Club Holdings, Inc. </strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bj#NYSE">BJ</a>) Director Christopher J Baldwin <a href="https://www.benzinga.com/sec/insider-trades/"><em> sold a total of 73,062 shares </em></a> at an average price of $73.95. The insider received around $5.4 million from selling those shares.</li>
<li><strong>What&rsquo;s Happening:</strong> On March 7, BJ&rsquo;s Wholesale reported fourth-quarter FY23 sales growth of 8.7% year-on-year to $5.36 billion, missing the analyst consensus of $5.39 billion.</li>
<li><strong>What BJ&#39;s Wholesale Club Does:</strong> BJ&#39;s Wholesale Club Holdings Inc is a warehouse club and gas station operator. The company provides various products such as television and electronics, furniture, computers and tablets, appliances, food products, and others.</li>
</ul>
<h3><strong>MGM Resorts International </strong></h3>
<ul>
<li><strong>The Trade:</strong> <strong> MGM Resorts International </strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mgm#NYSE">MGM</a>) Director Keith A. Meister <a href="https://www.benzinga.com/sec/insider-trades/"><em> sold a total of 425,000 shares </em></a> at an average price of $42.92. The insider received around $18.24 million from selling those shares.</li>
<li><strong>What&rsquo;s Happening:</strong> On Feb. 13, MGM Resorts reported fourth-quarter revenue of $4.38 billion, which was up 22% year-over-year.</li>
<li><strong>What MGM Resorts International Does:</strong> MGM Resorts is the largest resort operator on the Las Vegas Strip with 35,000 guest rooms and suites, representing about one fourth of all units in the market.</li>
</ul>
<p>&nbsp;</p>
<p>Check This Out: <a href="https://www.benzinga.com/news/24/03/37618477/top-5-energy-stocks-you-may-want-to-dump-in-march"><em> Top 5 Energy Stocks You May Want To Dump In March </em></a></p>
<p>&nbsp;</p>


MGM Resorts, BJ's Wholesale Club And 2 Other Stocks Insiders Are Selling

<p>DA Davidson  analyst Brian Holland   initiates coverage on Flowers Foods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLO#NYSE">FLO</a>) with a Neutral rating and announces Price Target of $24.</p>


DA Davidson Initiates Coverage On Flowers Foods with Neutral Rating, Announces Price Target of $24


Daniel GoldmanHouse (D-NY)	$15K - $50K	stock	Sale	May 19, 2023	Apr 10, 2023	House
Daniel GoldmanHouse (D-NY)	$15K - $50K	stock	Purchase	Apr 17, 2023	Mar 06, 2023	House
Virginia FoxxHouse (R-NC)	$50K - $100K	stock	Sale	Jan 03, 2023	Mar 28, 2022	House
Virginia FoxxHouse (R-NC)	$15K - $50K	stock	Purchase	Mar 07, 2022	Feb 24, 2022	House
Virginia FoxxHouse (R-NC)	$15K - $50K	stock	Purchase	Mar 07, 2022	Feb 04, 2022	House

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