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FLO

Flowers Foods

$18.95

0.05 (0.26%)

16:49
02/07/18
02/07
16:49
02/07/18
16:49

Flowers Foods targets additional gross savings of $38M-$48M in 2018

The company continues to execute on its strategic priorities established under Project Centennial. During the fourth quarter, Flowers began transitioning to the new organizational model that includes enhanced focus on brand growth and operating efficiency. The company expects the organizational model to be fully implemented in fiscal 2019. The company also finalized its fiscal 2018 brand investment plans, which includes new internal capabilities intended to deliver innovative products that offer consumers a meaningful point of difference. As part of Project Centennial, the company achieved gross cost savings of $32 million in fiscal 2017, primarily from reductions in spending on purchased goods and services. The company is targeting additional gross savings in fiscal 2018 of $38 million to $48 million. This target reflects further savings through PG&S, as well as from a more efficient and productive organizational structure, continuous improvement, supply chain optimization, and improved ordering and stale reduction initiatives.

  • 08

    Feb

FLO Flowers Foods
$18.95

0.05 (0.26%)

07/28/17
07/28/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Starbucks (SBUX) was downgraded to Neutral from Buy at Guggenheim and to Hold from Buy at Stifel. 2. Spirit Airlines (SAVE) was downgraded to Neutral from Buy at Buckingham and BofA/Merrill and to In-Line from Outperform at Imperial Capital. 3. Flowers Foods (FLO) downgraded to Hold from Buy at Jefferies with analyst Akshay Jagdale saying his positive thesis on bread industry pricing becoming more rational has not played out. 4. AstraZeneca (AZN) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Vincent Meunier saying shares look fairly valued as he removed MYSTIC from his models. 5. U.S. Steel (X) downgraded to Sell from Neutral at Citi with analyst Alexander Hacking saying he sees downside risk to U.S. flat rolled prices for the remainder of 2017. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/09/17
PIVT
11/09/17
UPGRADE
PIVT
Buy
Flowers Foods upgraded to Buy from Hold at Pivotal Research
11/09/17
PIVT
11/09/17
UPGRADE
Target $23
PIVT
Buy
Flowers Foods upgraded to Buy with $23 target at Pivotal Research
Pivotal Research analyst Timothy Ramey upgraded Flowers Foods to Buy from Hold and raised his price target for the shares to $23 from $17. The analyst believes the Q3 results may be an inflection point and that the stage is set up for a return to growth in 2018.
01/12/18
PIVT
01/12/18
NO CHANGE
Target $26
PIVT
Buy
Pivotal sees inflection point in Flowers Foods, ups target to $26
Pivotal Research analyst Timothy Ramey believes the market has not recognized the "clear inflection point" in Flowers Foods. The analyst sees evidence of "strong momentum" at the company and believes Project Centennial will improve profitability. He boosted his 2018 earnings estimate for Flowers to $1.20 from $1.02, well above the consensus estimate of 93c. It is "remarkable" that neither the lower tax rate for 2018 nor the inflection point in margins appears reflected in Street estimates, Ramey tells investors in a research note. He upped his price target for shares to $26 from $23 and keeps a Buy rating on Flowers Foods.

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