Investment Adviser Reports 12.89M Shares of Flowers Foods (FLO)

Rhea-AI Filing Summary

Fuller & Thaler Asset Management, Inc. reports beneficial ownership of 12,891,094.26 shares of Flowers Foods Inc common stock, representing 6.11% of the class. The filer states it holds sole voting power for 12,738,533.26 shares and sole dispositive power for 12,891,094.26 shares, with no shared voting or dispositive power reported. Fuller & Thaler says these securities are held as investment adviser on behalf of clients under separate arrangements and were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of the issuer.

Insights

Securities Analyst

TL;DR: Passive, material stake disclosure: 6.11% ownership signals meaningful but non-controlling investor position.

Fuller & Thaler's 6.11% beneficial ownership is above the 5% reporting threshold, making this a material disclosure for market transparency. The breakdown shows nearly all reported shares carry sole voting and dispositive authority, which means the adviser can direct votes and dispositions for the accounts it manages. The filing characterizes holdings as ordinary-course investment activities and disclaims any intent to influence control, a standard representation for investment advisers filing under Schedule 13G. For investors, this clarifies ownership concentration without indicating activist intent.

Corporate Governance Expert

TL;DR: Ownership level is notable for governance monitoring but does not imply control or activist engagement.

The disclosed position of 6.11% places Fuller & Thaler among significant shareholders that boards and management typically monitor for voting outcomes. Sole voting power nearly equals total beneficially owned shares, which could matter in close shareholder votes. However, the filer explicitly states the holdings are not intended to change control and were acquired in the ordinary course, aligning with a passive Schedule 13G profile rather than an active 13D approach. This filing should be treated as a transparency update rather than a governance action.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Flowers Foods Inc

(Name of Issuer)

Common Stock

(Title of Class of Securities)

343498101

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 343498101

1

Names of Reporting Persons

Fuller & Thaler Asset Management, Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CALIFORNIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 12,738,533.26
6	Shared Voting Power 0.00
7	Sole Dispositive Power 12,891,094.26
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

12,891,094.26

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.11 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Flowers Foods Inc
(b)	Address of issuer's principal executive offices: 1919 Flowers Circle, Thomasville, GA 31757
Item 2.
(a)	Name of person filing: Fuller & Thaler Asset Management, Inc.
(b)	Address or principal business office or, if none, residence: 411 Borel Avenue, Suite 300, San Mateo, CA 94402
(c)	Citizenship: California corporation
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 343498101
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 12,891,094.26
(b)	Percent of class: 6.11 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 12,738,533.26
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 12,891,094.26
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. Fuller & Thaler Asset Management, Inc. is deemed to be the beneficial owner of the number of securities reflected in Items 5-9 and 11 of page two (2) of this Schedule 13G pursuant to separate arrangements whereby it acts as investment adviser to certain persons. Each person for whom Fuller & Thaler Asset Management, Inc. acts as investment adviser has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the Common Stock.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Fuller & Thaler Asset Management, Inc.

Signature:	Hanna Zanoni
Name/Title:	Hanna Zanoni,Chief Compliance Officer
Date:	08/14/2025

FAQ

What stake in Flowers Foods (FLO) does Fuller & Thaler report?

Fuller & Thaler reports beneficial ownership of 12,891,094.26 shares, equal to 6.11% of the common stock.

How many shares does Fuller & Thaler have voting control over?

The filer reports sole voting power for 12,738,533.26 shares and no shared voting power.

Does Fuller & Thaler state an intent to influence control of Flowers Foods (FLO)?

No. The filing states the securities were acquired and are held in the ordinary course of business and not to influence control.

In what capacity does Fuller & Thaler hold these shares?

Fuller & Thaler holds the shares as an investment adviser acting on behalf of certain clients under separate arrangements.

Which securities class is reported in this filing?

The filing covers Common Stock of Flowers Foods Inc (CUSIP 343498101).