State Board of Administration of Florida Retirement System decreased its stake in Bob Evans Farms Inc. (NASDAQ:BOBE) by 15.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,580 shares of the company’s stock after selling 2,249 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.06% of Bob Evans Farms worth $477,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new stake in Bob Evans Farms during the fourth quarter valued at about $7,722,000. Nisa Investment Advisors L.L.C. boosted its position in Bob Evans Farms by 87.3% in the first quarter. Nisa Investment Advisors L.L.C. now owns 10,300 shares of the company’s stock valued at $481,000 after buying an additional 4,800 shares during the last quarter. Virginia Retirement System bought a new position in Bob Evans Farms during the first quarter valued at approximately $738,000. Pacad Investment Ltd. bought a new position in Bob Evans Farms during the first quarter valued at approximately $310,000. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its position in Bob Evans Farms by 135.3% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 30,615 shares of the company’s stock valued at $1,429,000 after buying an additional 17,605 shares during the last quarter. 79.88% of the stock is owned by institutional investors and hedge funds.
Shares of Bob Evans Farms Inc. (NASDAQ:BOBE) traded up 0.56% during trading on Friday, hitting $38.01. 61,358 shares of the stock were exchanged. The firm’s 50-day moving average is $38.51 and its 200 day moving average is $41.43. Bob Evans Farms Inc. has a 1-year low of $35.63 and a 1-year high of $48.24. The company has a market cap of $751.31 million, a P/E ratio of 27.09 and a beta of 0.60.
Bob Evans Farms (NASDAQ:BOBE) last announced its earnings results on Wednesday, August 31st. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.04. Bob Evans Farms had a return on equity of 17.38% and a net margin of 2.20%. The firm earned $306.30 million during the quarter, compared to analyst estimates of $310.89 million. During the same period last year, the firm posted $0.51 EPS. The business’s revenue was down 4.8% compared to the same quarter last year. Equities analysts forecast that Bob Evans Farms Inc. will post $2.10 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 19th. Stockholders of record on Monday, September 5th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 3.60%. The ex-dividend date was Wednesday, August 31st. Bob Evans Farms’s dividend payout ratio is presently 97.14%.
Several equities analysts recently commented on the stock. Oppenheimer Holdings Inc. reiterated a “buy” rating and set a $50.00 target price on shares of Bob Evans Farms in a research note on Wednesday, June 15th. Zacks Investment Research cut shares of Bob Evans Farms from a “buy” rating to a “hold” rating in a research note on Thursday, June 16th. TheStreet cut shares of Bob Evans Farms from a “buy” rating to a “hold” rating in a research note on Tuesday, June 14th. Finally, Maxim Group cut their target price on shares of Bob Evans Farms from $59.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, August 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $49.80.
About Bob Evans Farms
Bob Evans Farms, Inc (Bob Evans) is a full-service restaurant company. The Company produces and distributes pork sausage products and a range of home-style refrigerated side dishes and frozen food items under the Bob Evans, Owens and Country Creek brand names. These food products are distributed to customers throughout the United States.
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