Credit Suisse AG lowered its stake in Bob Evans Farms, Inc. (NASDAQ:BOBE) by 63.3% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 19,259 shares of the restaurant operator’s stock after selling 33,269 shares during the period. Credit Suisse AG owned about 0.10% of Bob Evans Farms worth $1,250,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Baird Financial Group Inc. purchased a new position in Bob Evans Farms during the first quarter valued at $582,000. State of Tennessee Treasury Department raised its stake in shares of 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 valued at $1,207,000 after buying an additional 2,807 shares in the last quarter. Sei Investments Co. bought a new stake in shares of Bob Evans Farms during the first quarter valued at approximately $818,000. Karp Capital Management Corp bought a new stake in shares of Bob Evans Farms during the first quarter valued at approximately $321,000. Finally, UBS Asset Management Americas Inc. bought a new stake in shares of Bob Evans Farms during the first quarter valued at approximately $580,000. Institutional investors and hedge funds own 81.68% of the company’s stock.
Shares of Bob Evans Farms, Inc. (BOBE) traded down 0.36% during mid-day trading on Friday, reaching $66.04. 54,576 shares of the company’s stock traded hands. Bob Evans Farms, Inc. has a 12-month low of $36.70 and a 12-month high of $75.34. The firm’s 50 day moving average price is $68.12 and its 200-day moving average price is $65.35. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of 10.51 and a beta of 0.54.
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 for the quarter, compared to the consensus estimate of $325.70 million. Bob Evans Farms had a net margin of 15.15% and a return on equity of 19.58%. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.48 EPS. Equities research analysts forecast that Bob Evans Farms, Inc. will post $2.19 earnings per share for the current year.
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Several brokerages have commented on BOBE. CIBC reaffirmed a “market perform” rating and issued a $77.00 price objective on shares of Bob Evans Farms in a research report on Monday, June 5th. Oppenheimer Holdings, Inc. reaffirmed a “market perform” rating and issued a $77.00 price objective on shares of Bob Evans Farms in a research report on Monday, June 5th. Zacks Investment Research raised shares of Bob Evans Farms from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. Maxim Group lifted their price objective on shares of Bob Evans Farms from $74.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, June 13th. Finally, William Blair began coverage on shares of Bob Evans Farms in a research report on Wednesday, May 3rd. They issued an “outperform” rating and a $67.41 price objective on the stock. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $73.40.
In other news, SVP Thomas Alan Ashworth sold 7,100 shares of the firm’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $70.70, for a total transaction of $501,970.00. Following 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. Company insiders own 1.20% of the company’s stock.
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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