TIAA CREF Investment Management LLC lowered its stake in Bob Evans Farms, Inc. (NASDAQ:BOBE) by 5.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,924 shares of the restaurant operator’s stock after selling 3,783 shares during the period. TIAA CREF Investment Management LLC owned 0.32% of Bob Evans Farms worth $4,147,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Teachers Advisors LLC increased its stake in shares of Bob Evans Farms by 4.4% in the first quarter. Teachers Advisors LLC now owns 34,952 shares of the restaurant operator’s stock worth $2,267,000 after buying an additional 1,463 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Bob Evans Farms by 3.6% in the first quarter. Principal Financial Group Inc. now owns 150,229 shares of the restaurant operator’s stock worth $9,745,000 after buying an additional 5,281 shares during the last quarter. OppenheimerFunds Inc. increased its stake in shares of Bob Evans Farms by 3.1% in the first quarter. OppenheimerFunds Inc. now owns 16,411 shares of the restaurant operator’s stock worth $1,065,000 after buying an additional 491 shares during the last quarter. Asset Management One Co. Ltd. acquired a new stake in shares of Bob Evans Farms during the first quarter worth $4,544,000. Finally, Arizona State Retirement System increased its stake in shares of Bob Evans Farms by 1.0% in the first quarter. Arizona State Retirement System now owns 10,312 shares of the restaurant operator’s stock worth $669,000 after buying an additional 100 shares during the last quarter. 81.68% of the stock is owned by institutional investors and hedge funds.
Shares of Bob Evans Farms, Inc. (NASDAQ:BOBE) traded down 0.42% during mid-day trading on Friday, hitting $66.00. The stock had a trading volume of 227,870 shares. The stock’s 50-day moving average is $67.96 and its 200 day moving average is $65.41. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of 10.50 and a beta of 0.54. Bob Evans Farms, Inc. has a 1-year low of $36.88 and a 1-year high of $75.34.
Bob Evans Farms (NASDAQ:BOBE) last announced its quarterly earnings data on Thursday, June 15th. The restaurant operator reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.19. The business had revenue of $99.90 million for the quarter, compared to analysts’ expectations 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 revenue was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.48 earnings per share. Equities research analysts predict that Bob Evans Farms, Inc. will post $2.19 EPS for the current fiscal year.
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A number of analysts have weighed in on BOBE shares. Zacks Investment Research downgraded Bob Evans Farms from a “buy” rating to a “hold” rating in a report on Tuesday, May 2nd. Maxim Group increased their price target on Bob Evans Farms from $65.00 to $74.00 and gave the stock a “buy” rating in a report on Tuesday, May 2nd. William Blair started coverage on Bob Evans Farms in a report on Wednesday, May 3rd. They set an “outperform” rating and a $67.41 price target for the company. CIBC reiterated a “market perform” rating and set a $77.00 price target on shares of Bob Evans Farms in a report on Monday, June 5th. Finally, BidaskClub downgraded Bob Evans Farms from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 12th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $73.40.
In other Bob Evans Farms news, SVP Thomas Alan Ashworth sold 7,100 shares of the company’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $70.70, for a total value of $501,970.00. Following 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 filing with the SEC, which is available through the SEC website. 1.20% of the stock is currently owned by corporate insiders.
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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