Bob Evans Farms Inc (BOBE) Sees Significant Growth in Short Interest

Bob Evans Farms Inc (NASDAQ:BOBE) was the recipient of a large increase in short interest during the month of December. As of December 29th, there was short interest totalling 1,244,606 shares, an increase of 35.8% from the December 15th total of 916,235 shares. Based on an average daily trading volume, of 304,430 shares, the days-to-cover ratio is currently 4.1 days. Currently, 6.3% of the company’s stock are sold short.

Shares of Bob Evans Farms (BOBE) opened at $77.01 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.13 and a current ratio of 1.63. The firm has a market capitalization of $1,540.00, a PE ratio of 60.16 and a beta of 0.54. Bob Evans Farms has a one year low of $47.28 and a one year high of $79.70.

Bob Evans Farms (NASDAQ:BOBE) last posted its quarterly earnings results on Wednesday, December 6th. The restaurant operator reported $0.35 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.35. The business had revenue of $117.63 million for the quarter, compared to the consensus estimate of $117.10 million. Bob Evans Farms had a return on equity of 18.55% and a net margin of 28.75%. During the same quarter in the previous year, the business earned $0.56 EPS.

The company also recently declared a quarterly dividend, which was paid on Friday, December 22nd. Shareholders of record on Monday, December 11th were paid a dividend of $0.34 per share. The ex-dividend date was Friday, December 8th. This represents a $1.36 annualized dividend and a yield of 1.77%. Bob Evans Farms’s payout ratio is presently 106.25%.

Institutional investors have recently bought and sold shares of the business. Flinton Capital Management LLC grew its stake in Bob Evans Farms by 60.0% during the 2nd quarter. Flinton Capital Management LLC now owns 1,408 shares of the restaurant operator’s stock valued at $101,000 after purchasing an additional 528 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Bob Evans Farms during the 2nd quarter valued at about $101,000. Ameritas Investment Partners Inc. grew its stake in Bob Evans Farms by 7.1% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,740 shares of the restaurant operator’s stock valued at $125,000 after purchasing an additional 115 shares during the last quarter. Riverhead Capital Management LLC grew its stake in Bob Evans Farms by 61.7% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,264 shares of the restaurant operator’s stock valued at $163,000 after purchasing an additional 864 shares during the last quarter. Finally, Amalgamated Bank purchased a new stake in Bob Evans Farms during the 3rd quarter valued at about $212,000. Institutional investors and hedge funds own 77.87% of the company’s stock.

Several research analysts recently weighed in on the company. Maxim Group restated a “hold” rating on shares of Bob Evans Farms in a research note on Thursday. BidaskClub downgraded Bob Evans Farms from a “sell” rating to a “strong sell” rating in a research note on Wednesday. ValuEngine downgraded Bob Evans Farms from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Zacks Investment Research downgraded Bob Evans Farms from a “buy” rating to a “hold” rating in a research note on Wednesday, November 8th. Finally, William Blair downgraded Bob Evans Farms from an “outperform” rating to a “market perform” rating in a research note on Friday, September 22nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. Bob Evans Farms currently has an average rating of “Hold” and an average price target of $76.05.

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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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