Bank of New York Mellon Corp Raises Holdings in Cabela’s Inc (CAB)
Bank of New York Mellon Corp raised its position in Cabela’s Inc (NYSE:CAB) by 1.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 555,665 shares of the company’s stock after buying an additional 6,725 shares during the quarter. Bank of New York Mellon Corp owned 0.81% of Cabela’s worth $33,018,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Teacher Retirement System of Texas acquired a new position in Cabela’s in the 2nd quarter valued at $229,000. Tiedemann Wealth Management LLC grew its holdings in Cabela’s by 4.8% in the 1st quarter. Tiedemann Wealth Management LLC now owns 4,375 shares of the company’s stock valued at $232,000 after buying an additional 200 shares in the last quarter. Karp Capital Management Corp acquired a new position in Cabela’s in the 1st quarter valued at $234,000. Infrastructure Capital Advisors LLC acquired a new position in Cabela’s in the 1st quarter valued at $238,000. Finally, LS Investment Advisors LLC grew its holdings in Cabela’s by 21.5% in the 2nd quarter. LS Investment Advisors LLC now owns 4,197 shares of the company’s stock valued at $249,000 after buying an additional 742 shares in the last quarter. 56.43% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have commented on CAB shares. Zacks Investment Research lowered Cabela’s from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Northcoast Research lowered Cabela’s from a “buy” rating to a “neutral” rating in a report on Wednesday, July 5th. BidaskClub lowered Cabela’s from a “hold” rating to a “sell” rating in a report on Monday, July 24th. DA Davidson reaffirmed a “neutral” rating and issued a $61.50 price objective on shares of Cabela’s in a report on Saturday, June 3rd. Finally, Forward View reaffirmed a “buy” rating and issued a $61.50 price objective on shares of Cabela’s in a report on Tuesday, August 8th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $64.50.
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Shares of Cabela’s Inc (CAB) opened at 60.93 on Friday. The firm has a market capitalization of $4.20 billion, a price-to-earnings ratio of 31.60 and a beta of 0.14. Cabela’s Inc has a 12-month low of $45.00 and a 12-month high of $63.60. The stock’s 50 day moving average price is $54.93 and its 200 day moving average price is $53.95.
Cabela’s (NYSE:CAB) last released its quarterly earnings data on Thursday, August 3rd. The company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by $0.04. Cabela’s had a net margin of 3.29% and a return on equity of 8.60%. The company had revenue of $890.40 million for the quarter, compared to the consensus estimate of $906.06 million. During the same quarter in the previous year, the firm posted $0.59 earnings per share. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. Equities research analysts expect that Cabela’s Inc will post $2.58 earnings per share for the current year.
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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