Mario Gabelli’s Gamco Investors has reported that it has cut its stake in Flowers Foods from 8.24% to 7.24%.

Gamco now owns 4.39m common shares in Flowers Foods, down from 5.01m in February, the company said in a filing with the Securities and Exchange Commission.

Shares in Flowers Foods, baked goods manufacturer, were trading at US$29.12, up $0.07, at the time of press.