Bob Evans Farms Inc

19 Septembre, 2017, 17:53 | Author: Marc Bacque
  • The deal has already been approved by the boards of both companies and is expected to close in the first quarter of 2018

Sandell Asset Management Corp who had been investing in Bob Evans Farms Inc (Call) for a number of months, seems to be less bullish one the $1.42B market cap company. Overall, volume was down 12.52% under the stocks normal daily volume.

According to Zacks, "BOB EVANS FARMS, divided into two principal industry segments: the food products segment and the restaurant segment". They also produce fresh and fully-cooked sausage products and fresh, deli-style salads which are distributed primarily to grocery stores in the Midwest, Southwest and Southeast.

Post Holdings (NYSE:POST) works out an agreement to acquire Bob Evans Farms (NASDAQ:BOBE) for $77.00 per share. Maxim Group upped 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 note on Tuesday, June 13th. Berenberg Bank initiated coverage on shares of Bob Evans Farms in a research report on Wednesday, July 19th. The current share price indicates that stock is -0.07% away from its one year high and is moving 119.72% ahead of its 52-week low. Oppenheimer maintained it with "Hold" rating and $7700 target in Monday, June 5 report. Finally, Creative Planning raised its position in Bob Evans Farms by 65.4% during the second quarter. They issued a buy rating and a $77.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Stifel Nicolaus maintained it with "Buy" rating and $19 target in Thursday, April 28 report. Bob Evans Farms, Inc. shares had a trading volume of 376K by the end of trading on Friday. The firm's 50-day moving average is $67.18 and its 200-day moving average is $67.02.

The company now has a P/E ratio of 11.67 and the market cap is 1.43B. Over the same time span, the stock marked US$75.34 as its best level and the lowest price reached was US$36.88. The ex-dividend date was Wednesday the 30th of August 2017. The dividend payment was $0.340 per share for the quarter or $1.36 on an annualized basis. The company had revenue of $109.30 million during the quarter, compared to analyst estimates of $102.29 million. Bob Evans sold its restaurant to the private equity firm for $565 million. During the same quarter past year, the company posted $0.48 earnings per share. EPS ratio determined by looking at last 12 month figures is 0.96. Bancorporation Of Montreal Can has 0% invested in Bob Evans Farms Inc (NASDAQ:BOBE). "(BOBE) Raised to "Buy" at Zacks Investment Research" was first published by BBNS and is owned by of BBNS. If you are viewing this story on another website, it was stolen and reposted in violation of global trademark & copyright laws. The legal version of this article can be accessed at Shareholders of record on Monday, September 4th will be given a dividend of $0.34 per share. The ex-dividend date is Wednesday, August 30th. This dividend represents a yeild of $1.93 which is the dividend as a percentage of the current share price.

"We have enormous respect for Bob Evans' success and are excited about the growth opportunities this combination will create", said Rob Vitale, president and chief executive officer of Post Holdings.

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In other Bob Evans Farms news, SVP Thomas Alan Ashworth sold 7,100 shares of the stock in a transaction on Thursday, June 22nd. Following the completion of the transaction, the senior vice president now owns 4,367 shares in the company, valued at $308,746.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Large investors have recently added to or reduced their stakes in the business. Miles Capital Inc. now owns 6,219 shares of the restaurant operator's stock worth $403,000 after purchasing an additional 17 shares during the last quarter. Finally, State Street Corp grew its position in Bob Evans Farms by 2.0% in the second quarter. BlackRock Inc. now owns 2,951,515 shares of the restaurant operator's stock valued at $191,465,000 after acquiring an additional 2,914,983 shares during the period. PNC Financial Services Group Inc. lifted its stake in Bob Evans Farms by 4.2% during the first quarter. Flinton Capital Management LLC lifted its stake in Bob Evans Farms by 60.0% during the second quarter.

Shares of Bob Evans Farms (NASDAQ BOBE) traded up 1.10% during trading on Thursday, reaching $70.53. Ameritas Investment Partners Inc. now owns 1,740 shares of the restaurant operator's stock worth $125,000 after acquiring an additional 115 shares during the last quarter.

(Bob Evans), launched on November 4, 1985, 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.


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