Bank of New York Mellon Corp acquired a new stake in Flowers Foods during the second quarter. The bank disclosed the acquisition in a recent 13F filing with the SEC.
The fund purchased 1,527,897 shares. The stake was valued at approximately $12.07 million. This represents a 0.72% ownership stake in the packaged bakery foods company.
The disclosure follows a challenging period for Flowers Foods. The company's stock price recently fell to a 52-week low. Flowers Foods reported weaker than expected Q2 results. It also lowered its full-year guidance.