Point72 Asset Management L.P. Sells 328,500 Shares of Bob Evans Farms Inc (BOBE)
Point72 Asset Management L.P. lessened its stake in shares of Bob Evans Farms Inc (NASDAQ:BOBE) by 91.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,100 shares of the restaurant operator’s stock after selling 328,500 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.16% of Bob Evans Farms worth $2,488,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of BOBE. Quantbot Technologies LP purchased a new stake in Bob Evans Farms during the 2nd quarter worth about $101,000. Flinton Capital Management LLC increased its position in Bob Evans Farms by 60.0% during the 2nd quarter. Flinton Capital Management LLC now owns 1,408 shares of the restaurant operator’s stock worth $101,000 after purchasing an additional 528 shares in the last quarter. Ameritas Investment Partners Inc. increased its position in Bob Evans Farms by 7.1% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,740 shares of the restaurant operator’s stock worth $125,000 after purchasing an additional 115 shares in the last quarter. Riverhead Capital Management LLC increased its position in Bob Evans Farms by 61.7% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,264 shares of the restaurant operator’s stock worth $163,000 after purchasing an additional 864 shares in the last quarter. Finally, Amalgamated Bank purchased a new stake in Bob Evans Farms during the 3rd quarter worth about $212,000. Hedge funds and other institutional investors own 77.87% of the company’s stock.
A number of analysts recently commented on BOBE shares. 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 report on Monday, September 4th. Maxim Group reissued a “buy” rating and issued a $77.00 price target on shares of Bob Evans Farms in a research note on Wednesday, August 30th. Berenberg Bank lowered Bob Evans Farms from a “buy” rating to a “hold” rating and decreased their price target for the stock from $78.00 to $77.00 in a research note on Wednesday, September 20th. Oppenheimer reissued a “hold” rating and issued a $72.00 price target on shares of Bob Evans Farms in a research note on Friday, September 8th. Finally, ValuEngine lowered Bob Evans Farms from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $76.05.
Bob Evans Farms (NASDAQ:BOBE) last issued its quarterly earnings results on Wednesday, December 6th. The restaurant operator reported $0.35 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.35. Bob Evans Farms had a return on equity of 18.55% and a net margin of 28.75%. The firm had revenue of $117.63 million for the quarter, compared to analyst estimates of $117.10 million. During the same period last year, the company earned $0.56 EPS. equities analysts predict that Bob Evans Farms Inc will post 2.21 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 22nd. Shareholders of record on Monday, December 11th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend is Friday, December 8th. Bob Evans Farms’s payout ratio is 106.25%.
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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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