Pinebridge Investments L.P. Sells 3,279 Shares of Bob Evans Farms, Inc. (BOBE)
Pinebridge Investments L.P. cut its position in Bob Evans Farms, Inc. (NASDAQ:BOBE) by 11.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,170 shares of the restaurant operator’s stock after selling 3,279 shares during the quarter. Pinebridge Investments L.P. owned approximately 0.13% of Bob Evans Farms worth $1,880,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Ameritas Investment Partners Inc. purchased a new stake in shares of Bob Evans Farms during the first quarter worth about $105,000. PNC Financial Services Group Inc. grew its stake in shares of Bob Evans Farms by 4.2% during the first quarter. PNC Financial Services Group Inc. now owns 1,680 shares of the restaurant operator’s stock worth $109,000 after acquiring an additional 68 shares during the last quarter. Creative Planning grew its stake in shares of Bob Evans Farms by 65.4% during the second quarter. Creative Planning now owns 1,925 shares of the restaurant operator’s stock worth $138,000 after acquiring an additional 761 shares during the last quarter. Riverhead Capital Management LLC grew its stake in shares of Bob Evans Farms by 61.7% during the second quarter. Riverhead Capital Management LLC now owns 2,264 shares of the restaurant operator’s stock worth $163,000 after acquiring an additional 864 shares during the last quarter. Finally, Virginia Retirement Systems ET AL purchased a new stake in shares of Bob Evans Farms during the second quarter worth about $251,000. Institutional investors and hedge funds own 76.85% of the company’s stock.
A number of equities research analysts have recently weighed in on the company. William Blair lowered Bob Evans Farms from an “outperform” rating to a “market perform” rating in a research note on Friday. Berenberg Bank lowered Bob Evans Farms from a “buy” rating to a “hold” rating and dropped their price target for the stock from $78.00 to $77.00 in a research note on Wednesday. Zacks Investment Research upgraded Bob Evans Farms from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. Maxim Group lowered Bob Evans Farms from a “buy” rating to a “hold” rating and set a $77.00 price target on the stock. in a research note on Tuesday, September 19th. Finally, BidaskClub upgraded Bob Evans Farms from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Bob Evans Farms has a consensus rating of “Hold” and an average price target of $76.05.
Shares of Bob Evans Farms, Inc. (NASDAQ BOBE) opened at 77.25 on Friday. Bob Evans Farms, Inc. has a 12 month low of $36.88 and a 12 month high of $78.18. The company has a 50-day moving average price of $67.41 and a 200-day moving average price of $67.17. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of 12.54 and a beta of 0.55.
Bob Evans Farms (NASDAQ:BOBE) last released its quarterly earnings results on Wednesday, August 30th. The restaurant operator reported $0.37 EPS for the quarter, hitting the consensus estimate of $0.37. The company had revenue of $109.30 million for the quarter, compared to analyst estimates of $102.29 million. Bob Evans Farms had a return on equity of 19.52% and a net margin of 19.49%. The firm’s revenue was up 27.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.48 earnings per share. On average, analysts expect that Bob Evans Farms, Inc. will post $2.18 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, September 18th. Shareholders of record on Monday, September 4th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.76%. The ex-dividend date was Wednesday, August 30th. Bob Evans Farms’s dividend payout ratio (DPR) is 22.08%.
Bob Evans Farms Company Profile
Bob Evans Farms, Inc (Bob Evans) is a producer and distributor of refrigerated potato, pasta and vegetable-based side dishes, pork sausage, and a variety of refrigerated and frozen food items under the Bob Evans and Owens or Country Creek brand names. The Company’s food products are distributed to customers throughout the United States.
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