Russell Investments Group Ltd. Has $4.25 Million Stake in Bob Evans Farms, Inc. (BOBE)
Russell Investments Group Ltd. cut its stake in Bob Evans Farms, Inc. (NASDAQ:BOBE) by 36.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 59,193 shares of the restaurant operator’s stock after selling 34,139 shares during the period. Russell Investments Group Ltd. owned 0.30% of Bob Evans Farms worth $4,252,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BOBE. BlackRock Inc. boosted its stake in Bob Evans Farms by 7,979.3% in the first quarter. BlackRock Inc. now owns 2,951,515 shares of the restaurant operator’s stock valued at $191,465,000 after buying an additional 2,914,983 shares in the last quarter. Vanguard Group Inc. boosted its stake in Bob Evans Farms by 3.1% in the first quarter. Vanguard Group Inc. now owns 2,704,660 shares of the restaurant operator’s stock valued at $175,451,000 after buying an additional 80,068 shares in the last quarter. State Street Corp boosted its stake in Bob Evans Farms by 1.8% in the first quarter. State Street Corp now owns 531,462 shares of the restaurant operator’s stock valued at $34,473,000 after buying an additional 9,181 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Bob Evans Farms by 4,068.0% in the first quarter. Victory Capital Management Inc. now owns 505,407 shares of the restaurant operator’s stock valued at $32,786,000 after buying an additional 493,281 shares in the last quarter. Finally, Tudor Investment Corp ET AL purchased a new stake in Bob Evans Farms during the first quarter valued at about $22,705,000. 81.68% of the stock is owned by institutional investors.
Bob Evans Farms, Inc. (NASDAQ BOBE) traded up 0.80% during trading on Friday, hitting $62.69. 366,197 shares of the company traded hands. The stock has a market capitalization of $1.25 billion, a PE ratio of 9.97 and a beta of 0.54. Bob Evans Farms, Inc. has a 52 week low of $36.88 and a 52 week high of $75.34. The company’s 50 day moving average is $67.17 and its 200-day moving average is $65.71.
Bob Evans Farms (NASDAQ:BOBE) last posted its quarterly earnings results on Thursday, June 15th. The restaurant operator reported $0.61 EPS for the quarter, topping the consensus estimate of $0.42 by $0.19. The business had revenue of $99.90 million for the quarter, compared to analyst estimates of $325.70 million. Bob Evans Farms had a return on equity of 19.58% and a net margin of 15.15%. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.48 EPS. Analysts predict that Bob Evans Farms, Inc. will post $2.17 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 18th. Shareholders of record on Monday, September 4th will be paid a dividend of $0.34 per share. The ex-dividend date is Wednesday, August 30th. This represents a $1.36 dividend on an annualized basis and a yield of 2.17%. Bob Evans Farms’s dividend payout ratio (DPR) is presently 21.69%.
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Several analysts have issued reports on the stock. BidaskClub upgraded shares of Bob Evans Farms from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Berenberg Bank assumed coverage on shares of Bob Evans Farms in a research report on Wednesday, July 19th. They set a “buy” rating and a $77.00 price objective on the stock. Maxim Group lowered their price objective on shares of Bob Evans Farms from $80.00 to $77.00 and set a “buy” rating on the stock in a research report on Friday, August 18th. Zacks Investment Research upgraded shares of Bob Evans Farms from a “sell” rating to a “hold” rating in a research report on Friday, June 9th. Finally, CIBC restated a “market perform” rating and set a $77.00 price objective on shares of Bob Evans Farms in a research report on Monday, June 5th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Bob Evans Farms presently has a consensus rating of “Hold” and an average price target of $73.77.
In other Bob Evans Farms news, SVP Thomas Alan Ashworth sold 7,100 shares of the business’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $70.70, for a total transaction of $501,970.00. Following the sale, the senior vice president now directly owns 4,367 shares in the company, valued at $308,746.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is owned by corporate insiders.
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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