Tootie Pie Company, Inc. (OTCBB: TOOT)
DALLAS–(BUSINESS WIRE)–The Tootie Pie Company, Inc. (OTCBB: TOOT – News) has received a rating of “Buy” with a price target of $3.37 by Equity Stock Analysis (ESA). The report is authored by Senior Research Analyst, Kris Gupta, CFA.
The full report is available at http://www.equitystockanalysis.com
In the report Mr. Gupta writes, “Tootie Pie Company, Inc. manufactures, markets and sells “high end” premium quality pies. Tootie Pie has three sales channels that each focus on a different customer base and market including: Retail Sales, Corporate Sales, and Wholesale Distribution.
American culture has historically revered the pie and many restaurants find them to be an indispensable part of their standard menu. Restaurant patrons’ expectation for an enhanced assortment of high-quality desserts has expanded. Restaurants find this to be a desirable item for purchase rather than in house preparation because kitchen space is often limited, and labor rates are at a premium. Tootie Pies are one menu item that can be purchased with quality control for freshness and quality and are supported by an extended shelf life. They are purchased frozen and have a thawed refrigerated shelf life of one week.
Wholesale customers are made up of regional and national broad-line foodservice distributors who purchase their products and then resell them to their customers. The primary distributors are Ben E. Keith Foodservices and Sysco Foodservices… (and) The Company recently added U.S. Foodservice in Austin, Texas, as a new distributor as well.
Sales growth, particularly in the wholesale food service sector, will continue to grow exponentially for the foreseeable future, with sales anticipated to at least double to in excess of $1 million in the current fiscal year. We envision sales to continue to grow dramatically as the Company’s distributors begin selling their pies into new territories and using them to open new distribution.
Tootie Pie Company’s products have clearly demonstrated their “channel opening” capabilities, evidenced by partnerships with well established national and regional food distributors, which will continue to fuel dramatic sales growth. The fact that so many end users carry the pies by the brand name, the Tootie Pie Company is also adding to shareholder value in the building of its brand.”
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Contact:
The Tootie Pie Company, Inc.
Jeff Bailey, VP of Corporate Development, 210-237-4751
or
EquityStockAnalysis.com
Dylan Yarter, Vice President, 469-252-3033
dylan@equitystockanalysis.com
Source: The Tootie Pie Company, Inc.
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