Bob Evans Farms, Inc. (BOBE) Shares Bought by Arrowstreet Capital Limited Partnership
Arrowstreet Capital Limited Partnership grew its position in Bob Evans Farms, Inc. (NASDAQ:BOBE) by 924.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 73,886 shares of the restaurant operator’s stock after acquiring an additional 66,677 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.37% of Bob Evans Farms worth $5,307,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. UBS Asset Management Americas Inc. purchased a new stake in shares of Bob Evans Farms during the first quarter worth approximately $580,000. Karp Capital Management Corp purchased a new stake in shares of Bob Evans Farms during the first quarter worth approximately $321,000. Sei Investments Co. purchased a new stake in shares of Bob Evans Farms during the first quarter worth approximately $818,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Bob Evans Farms during the first quarter worth approximately $105,000. Finally, Mason Street Advisors LLC raised its stake in shares of Bob Evans Farms by 7.0% during the first quarter. Mason Street Advisors LLC now owns 4,622 shares of the restaurant operator’s stock worth $300,000 after purchasing an additional 303 shares during the last quarter. 76.85% of the stock is owned by institutional investors and hedge funds.
Shares of Bob Evans Farms, Inc. (NASDAQ:BOBE) opened at 77.27 on Monday. The company’s 50 day moving average price is $73.26 and its 200-day moving average price is $69.34. Bob Evans Farms, Inc. has a 1-year low of $39.32 and a 1-year high of $78.18. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of 12.54 and a beta of 0.57.
Bob Evans Farms (NASDAQ:BOBE) last announced its earnings results on Wednesday, August 30th. The restaurant operator reported $0.37 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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%. Bob Evans Farms’s revenue for the quarter was up 27.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.48 earnings per share. Equities analysts expect that Bob Evans Farms, Inc. will post $2.18 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 18th. Stockholders of record on Monday, September 4th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend was Wednesday, August 30th. Bob Evans Farms’s dividend payout ratio (DPR) is presently 22.08%.
Several research firms have recently commented on BOBE. Maxim Group cut Bob Evans Farms from a “buy” rating to a “hold” rating and set a $77.00 price target for the company. in a research note on Tuesday, September 19th. BidaskClub upgraded Bob Evans Farms from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Zacks Investment Research upgraded Bob Evans Farms from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. Berenberg Bank cut Bob Evans Farms from a “buy” rating to a “hold” rating and cut their price objective for the stock from $78.00 to $77.00 in a research report on Wednesday, September 20th. Finally, CJS Securities initiated coverage on Bob Evans Farms in a research report on Wednesday, September 20th. They issued an “outperform” rating and a $85.00 price objective for the company. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Bob Evans Farms currently has a consensus rating of “Hold” and a consensus target price of $76.05.
About Bob Evans Farms
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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