BlackRock Inc. decreased its holdings in shares of Bob Evans Farms, Inc. (NASDAQ:BOBE) by 13.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,543,315 shares of the restaurant operator’s stock after selling 408,200 shares during the quarter. BlackRock Inc. owned approximately 12.77% of Bob Evans Farms worth $182,686,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Ameritas Investment Partners Inc. purchased a new stake in Bob Evans Farms during the first quarter worth approximately $105,000. PNC Financial Services Group Inc. lifted its stake in Bob Evans Farms by 4.2% in the first quarter. PNC Financial Services Group Inc. now owns 1,680 shares of the restaurant operator’s stock valued at $109,000 after buying an additional 68 shares during the last quarter. Creative Planning lifted its stake in Bob Evans Farms by 65.4% in the second quarter. Creative Planning now owns 1,925 shares of the restaurant operator’s stock valued at $138,000 after buying an additional 761 shares during the last quarter. Riverhead Capital Management LLC lifted its stake in Bob Evans Farms by 61.7% in the second quarter. Riverhead Capital Management LLC now owns 2,264 shares of the restaurant operator’s stock valued at $163,000 after buying an additional 864 shares during the last quarter. Finally, Virginia Retirement Systems ET AL purchased a new stake in Bob Evans Farms in the second quarter valued at approximately $251,000. Hedge funds and other institutional investors own 76.85% of the company’s stock.

Bob Evans Farms, Inc. (NASDAQ:BOBE) opened at 77.40 on Wednesday. The stock has a 50 day moving average price of $71.91 and a 200-day moving average price of $69.04. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of 12.56 and a beta of 0.58. Bob Evans Farms, Inc. has a 12-month low of $38.88 and a 12-month high of $78.18.

Bob Evans Farms (NASDAQ:BOBE) last announced its earnings results on Wednesday, August 30th. The restaurant operator reported $0.37 earnings per share for the quarter, meeting the consensus estimate of $0.37. The firm had revenue of $109.30 million for the quarter, compared to the consensus estimate 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 for the quarter was up 27.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.48 EPS. Equities analysts forecast that Bob Evans Farms, Inc. will post $2.18 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, September 18th. Shareholders of record on Monday, September 4th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend was Wednesday, August 30th. Bob Evans Farms’s payout ratio is currently 22.08%.

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BOBE has been the subject of a number of research reports. Zacks Investment Research upgraded Bob Evans Farms from a “hold” rating to a “buy” rating and set a $77.00 price objective for the company in a research note on Monday, September 4th. Maxim Group reiterated a “buy” rating and issued a $77.00 price objective on shares of Bob Evans Farms in a research note on Wednesday, August 30th. BidaskClub cut Bob Evans Farms from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 12th. Oppenheimer Holdings, Inc. reiterated a “hold” rating and issued a $72.00 price objective on shares of Bob Evans Farms in a research note on Friday, September 8th. Finally, William Blair cut Bob Evans Farms from an “outperform” rating to a “market perform” rating in a research note on Friday, September 22nd. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company 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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Institutional Ownership by Quarter for Bob Evans Farms (NASDAQ:BOBE)

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