Bank of America Corp DE raised its stake in Bob Evans Farms, Inc. (NASDAQ:BOBE) by 14.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 44,874 shares of the restaurant operator’s stock after buying an additional 5,589 shares during the period. Bank of America Corp DE’s holdings in Bob Evans Farms were worth $2,911,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in BOBE. Waratah Capital Advisors Ltd. acquired a new stake in Bob Evans Farms during the first quarter valued at $2,154,000. Ledyard National Bank acquired a new stake in Bob Evans Farms during the first quarter valued at $236,000. Norges Bank acquired a new stake in Bob Evans Farms during the fourth quarter valued at $13,852,000. Sei Investments Co. acquired a new stake in Bob Evans Farms during the first quarter valued at $818,000. Finally, Schwab Charles Investment Management Inc. boosted its stake in Bob Evans Farms by 13.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 187,645 shares of the restaurant operator’s stock valued at $12,173,000 after buying an additional 22,049 shares during the period. Institutional investors and hedge funds own 78.27% of the company’s stock.
Bob Evans Farms, Inc. (BOBE) traded down 0.09% on Tuesday, hitting $67.05. The stock had a trading volume of 11,118 shares. The stock’s 50-day moving average is $69.41 and its 200 day moving average is $64.26. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of 10.67 and a beta of 0.54. Bob Evans Farms, Inc. has a 1-year low of $36.09 and a 1-year high of $75.34.
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 analysts’ consensus estimates of $0.42 by $0.19. The firm had revenue of $99.90 million during the quarter, compared to analyst estimates of $325.70 million. Bob Evans Farms had a return on equity of 19.58% and a net margin of 15.15%. Bob Evans Farms’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.48 earnings per share. On average, equities research analysts predict that Bob Evans Farms, Inc. will post $2.19 earnings per share for the current fiscal year.
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BOBE has been the subject of several research analyst reports. Zacks Investment Research upgraded Bob Evans Farms from a “sell” rating to a “hold” rating in a report on Friday, June 16th. William Blair began coverage on Bob Evans Farms in a research note on Wednesday, May 3rd. They issued an “outperform” rating and a $67.41 target price for the company. Maxim Group raised their target price on Bob Evans Farms from $65.00 to $74.00 and gave the company a “buy” rating in a research note on Tuesday, May 2nd. BidaskClub cut Bob Evans Farms from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, Oppenheimer Holdings, Inc. restated a “market perform” rating and issued a $77.00 target price on shares of Bob Evans Farms in a research note on Monday, June 5th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $73.90.
In related news, SVP Thomas Alan Ashworth sold 7,100 shares of the business’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 sale, the senior vice president now owns 4,367 shares in the company, valued at $308,746.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is currently owned by 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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