Trexquant Investment LP Buys New Position in Bob Evans Farms, Inc. (NASDAQ:BOBE)
Trexquant Investment LP bought a new stake in Bob Evans Farms, Inc. (NASDAQ:BOBE) during the second quarter, Holdings Channel reports. The fund bought 7,318 shares of the restaurant operator’s stock, valued at approximately $526,000.
A number of other hedge funds and other institutional investors have also modified their holdings of BOBE. State of Tennessee Treasury Department boosted its stake in Bob Evans Farms by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 18,600 shares of the restaurant operator’s stock worth $1,207,000 after buying an additional 2,807 shares in the last quarter. Sei Investments Co. purchased a new stake in Bob Evans Farms during the first quarter worth $818,000. Karp Capital Management Corp purchased a new stake in Bob Evans Farms during the first quarter worth $321,000. UBS Asset Management Americas Inc. purchased a new stake in Bob Evans Farms during the first quarter worth $580,000. Finally, Comerica Bank boosted its stake in Bob Evans Farms by 3.8% in the first quarter. Comerica Bank now owns 19,698 shares of the restaurant operator’s stock worth $1,308,000 after buying an additional 714 shares in the last quarter. Institutional investors own 78.27% of the company’s stock.
Shares of Bob Evans Farms, Inc. (NASDAQ:BOBE) opened at 67.00 on Friday. Bob Evans Farms, Inc. has a 12-month low of $36.88 and a 12-month high of $75.34. The company has a market capitalization of $1.33 billion, a PE ratio of 10.66 and a beta of 0.54. The stock has a 50 day moving average of $68.64 and a 200-day moving average of $65.00.
Bob Evans Farms (NASDAQ:BOBE) last announced its quarterly earnings results on Thursday, June 15th. The restaurant operator reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.19. The firm had revenue of $99.90 million during the quarter, compared to the consensus estimate of $325.70 million. Bob Evans Farms had a return on equity of 19.58% and a net margin of 15.15%. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.48 earnings per share. Analysts predict that Bob Evans Farms, Inc. will post $2.19 earnings per share for the current fiscal year.
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A number of research firms have recently weighed in on BOBE. BidaskClub upgraded shares of Bob Evans Farms from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Oppenheimer Holdings, Inc. restated a “market perform” rating and issued a $77.00 price target on shares of Bob Evans Farms in a report on Monday, June 5th. Zacks Investment Research upgraded shares of Bob Evans Farms from a “sell” rating to a “hold” rating in a report on Friday, August 4th. Maxim Group raised their price target on shares of Bob Evans Farms from $74.00 to $80.00 and gave the company 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 issued an “outperform” rating and a $67.41 price target on the stock. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Bob Evans Farms has a consensus rating of “Hold” and a consensus target price of $73.90.
In related news, SVP Thomas Alan Ashworth sold 7,100 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $70.70, for a total value of $501,970.00. Following the completion of the transaction, the senior vice president now directly owns 4,367 shares of the company’s stock, valued at $308,746.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.20% of the company’s stock.
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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