Bob Evans Farms, Inc. (BOBE) Position Cut by Morgan Stanley
Morgan Stanley cut its stake in shares of Bob Evans Farms, Inc. (NASDAQ:BOBE) by 75.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,259 shares of the restaurant operator’s stock after selling 94,798 shares during the period. Morgan Stanley owned approximately 0.15% of Bob Evans Farms worth $1,962,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Ameritas Investment Partners Inc. purchased a new position in shares of Bob Evans Farms during the first quarter valued at about $105,000. PNC Financial Services Group Inc. raised its position in shares of 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. State of Alaska Department of Revenue raised its position in shares of Bob Evans Farms by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 2,180 shares of the restaurant operator’s stock valued at $141,000 after buying an additional 40 shares during the last quarter. Mason Street Advisors LLC raised its position in shares of Bob Evans Farms by 7.0% in the first quarter. Mason Street Advisors LLC now owns 4,622 shares of the restaurant operator’s stock valued at $300,000 after buying an additional 303 shares during the last quarter. Finally, Karp Capital Management Corp purchased a new position in shares of Bob Evans Farms during the first quarter valued at about $321,000. 77.67% of the stock is currently owned by hedge funds and other institutional investors.
Bob Evans Farms, Inc. (NASDAQ BOBE) traded down 1.22% during midday trading on Tuesday, hitting $63.73. 163,078 shares of the stock were exchanged. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of 10.14 and a beta of 0.54. The firm’s 50-day moving average is $67.17 and its 200 day moving average is $65.71. Bob Evans Farms, Inc. has a 52 week low of $36.88 and a 52 week high of $75.34.
Bob Evans Farms (NASDAQ:BOBE) last issued its earnings results on Thursday, June 15th. The restaurant operator reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.19. Bob Evans Farms had a net margin of 15.15% and a return on equity of 19.58%. The company had revenue of $99.90 million for the quarter, compared to analyst estimates of $325.70 million. During the same quarter last year, the firm earned $0.48 EPS. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. Equities research analysts expect that Bob Evans Farms, Inc. will post $2.17 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 18th. Investors of record on Monday, September 4th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Wednesday, August 30th. Bob Evans Farms’s payout ratio is 21.69%.
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Several equities analysts have issued reports on the company. Sidoti assumed coverage on Bob Evans Farms in a report on Wednesday, August 23rd. They set a “neutral” rating and a $76.00 price objective on the stock. Maxim Group decreased their target price on shares of Bob Evans Farms from $80.00 to $77.00 and set a “buy” rating for the company in a research note on Friday, August 18th. Zacks Investment Research upgraded shares of Bob Evans Farms from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. BidaskClub upgraded shares of Bob Evans Farms from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Finally, Berenberg Bank initiated coverage on shares of Bob Evans Farms in a research note on Wednesday, July 19th. They set a “buy” rating and a $77.00 target price for the company. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $73.77.
In related news, SVP Thomas Alan Ashworth sold 7,100 shares of Bob Evans Farms stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $70.70, for a total transaction of $501,970.00. Following the transaction, the senior vice president now owns 4,367 shares of the company’s stock, valued at approximately $308,746.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.20% of the stock is owned by company 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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