Bob Evans Farms, Inc. (BOBE) To Go Ex-Dividend on August 30th
Bob Evans Farms, Inc. (NASDAQ:BOBE) announced a quarterly dividend on Wednesday, August 23rd, RTT News reports. Shareholders of record on Monday, September 4th will be paid a dividend of 0.34 per share by the restaurant operator on Monday, September 18th. 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 has increased its dividend by an average of 5.1% per year over the last three years and has raised its dividend annually for the last 9 consecutive years. Bob Evans Farms has a dividend payout ratio of 62.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Bob Evans Farms to earn $2.44 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 55.7%.
Shares of Bob Evans Farms (NASDAQ:BOBE) opened at 64.52 on Tuesday. Bob Evans Farms has a 52 week low of $36.88 and a 52 week high of $75.34. The firm has a market cap of $1.29 billion, a PE ratio of 10.26 and a beta of 0.54. The firm’s 50-day moving average price is $67.17 and its 200 day moving average price is $65.71.
Bob Evans Farms (NASDAQ:BOBE) last announced its earnings results on Thursday, June 15th. The restaurant operator reported $0.61 earnings per share (EPS) for the quarter, topping the Zacks’ 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 firm had revenue of $99.90 million for the quarter, compared to analyst estimates of $325.70 million. During the same quarter in the prior year, the business posted $0.48 EPS. The business’s revenue was down 2.4% compared to the same quarter last year. Equities analysts anticipate that Bob Evans Farms will post $2.17 EPS for the current year.
In other news, SVP Thomas Alan Ashworth sold 7,100 shares of the company’s 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 completion of the sale, the senior vice president now owns 4,367 shares of the company’s stock, valued at approximately $308,746.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.20% of the company’s stock.
A number of brokerages have recently weighed in on BOBE. CIBC reaffirmed a “market perform” rating and set a $77.00 price target on shares of Bob Evans Farms in a report on Monday, June 5th. Oppenheimer Holdings, Inc. reaffirmed a “market perform” rating and set a $77.00 price target on shares of Bob Evans Farms in a report on Monday, June 5th. Zacks Investment Research raised shares of Bob Evans Farms from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. Maxim Group upped their price target on shares of Bob Evans Farms from $74.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, June 13th. Finally, William Blair began coverage on shares of Bob Evans Farms in a report on Wednesday, May 3rd. They set an “outperform” rating and a $67.41 price target for the company. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Bob Evans Farms has an average rating of “Hold” and a consensus price target of $73.77.
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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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