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.

Dividend History for Bob Evans Farms (NASDAQ:BOBE)

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