Municipal Employees Retirement System of Michigan reduced its stake in Cabela’s Inc (NYSE:CAB) by 16.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,950 shares of the company’s stock after selling 3,850 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Cabela’s were worth $1,185,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of CAB. State Treasurer State of Michigan raised its position in shares of Cabela’s by 1.0% in the first quarter. State Treasurer State of Michigan now owns 20,900 shares of the company’s stock valued at $1,110,000 after buying an additional 200 shares during the period. Great West Life Assurance Co. Can raised its position in shares of Cabela’s by 5.4% in the first quarter. Great West Life Assurance Co. Can now owns 30,036 shares of the company’s stock valued at $1,594,000 after buying an additional 1,551 shares during the period. Wells Fargo & Company MN raised its position in shares of Cabela’s by 9.3% in the first quarter. Wells Fargo & Company MN now owns 164,710 shares of the company’s stock valued at $8,748,000 after buying an additional 14,002 shares during the period. Oregon Public Employees Retirement Fund raised its position in shares of Cabela’s by 1.1% in the first quarter. Oregon Public Employees Retirement Fund now owns 18,041 shares of the company’s stock valued at $958,000 after buying an additional 200 shares during the period. Finally, ARP Americas LLC raised its position in shares of Cabela’s by 41.8% in the first quarter. ARP Americas LLC now owns 154,362 shares of the company’s stock valued at $8,198,000 after buying an additional 45,494 shares during the period. Institutional investors and hedge funds own 57.82% of the company’s stock.

Cabela’s Inc (CAB) opened at 53.82 on Thursday. The company has a 50 day moving average of $57.85 and a 200 day moving average of $53.75. The company has a market capitalization of $3.71 billion, a price-to-earnings ratio of 25.90 and a beta of 0.14. Cabela’s Inc has a 52 week low of $45.00 and a 52 week high of $63.60.

Cabela’s (NYSE:CAB) last released its quarterly earnings data on Thursday, August 3rd. The company reported $0.53 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.57 by $0.04. Cabela’s had a return on equity of 8.60% and a net margin of 3.29%. The business had revenue of $890.40 million during the quarter, compared to analysts’ expectations of $906.06 million. During the same period last year, the company earned $0.59 earnings per share. The firm’s revenue was down 4.2% compared to the same quarter last year. On average, equities analysts forecast that Cabela’s Inc will post $2.65 EPS for the current fiscal year.

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Several brokerages have commented on CAB. Northcoast Research lowered shares of Cabela’s from a “buy” rating to a “neutral” rating in a report on Wednesday, July 5th. Zacks Investment Research lowered shares of Cabela’s from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Stifel Nicolaus set a $59.00 price objective on shares of Cabela’s and gave the stock a “hold” rating in a report on Saturday, July 1st. BidaskClub upgraded shares of Cabela’s from a “sell” rating to a “hold” rating in a report on Wednesday, June 28th. Finally, Forward View restated a “buy” rating and issued a $61.50 price objective on shares of Cabela’s in a report on Tuesday. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $64.14.

Cabela’s Company Profile

Cabela’s Incorporated is an omni-channel retailer of hunting, fishing, camping, shooting sports and related outdoor merchandise. The Company offers its customers a selection of national and regional brand products, including its Cabela’s brand. The Company’s segments include Merchandising and Financial Services.

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Institutional Ownership by Quarter for Cabela`s (NYSE:CAB)

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