Meridian Investment Counsel Lowers stake in Cabelas Inc (CAB)

Cabelas Inc (CAB) : Meridian Investment Counsel reduced its stake in Cabelas Inc by 0.7% during the most recent quarter end. The investment management company now holds a total of 56,710 shares of Cabelas Inc which is valued at $2.7 Million after selling 400 shares in Cabelas Inc , the firm said in a disclosure report filed with the SEC on May 12, 2016.Cabelas Inc makes up approximately 1.91% of Meridian Investment Counsel’s portfolio.

Other Hedge Funds, Including , Thrivent Financial For Lutherans boosted its stake in CAB in the latest quarter, The investment management firm added 510 additional shares and now holds a total of 6,370 shares of Cabelas Inc which is valued at $304,996. Picton Mahoney Asset Management sold out all of its stake in CAB during the most recent quarter. The investment firm sold 17,300 shares of CAB which is valued $828,324.Ibm Retirement Fund reduced its stake in CAB by selling 6,863 shares or 58.82% in the most recent quarter. The Hedge Fund company now holds 4,805 shares of CAB which is valued at $230,063. Cabelas Inc makes up approx 0.01% of Ibm Retirement Fund’s portfolio.Teachers Advisors Inc boosted its stake in CAB in the latest quarter, The investment management firm added 54,614 additional shares and now holds a total of 106,859 shares of Cabelas Inc which is valued at $5.5 Million. Cabelas Inc makes up approx 0.01% of Teachers Advisors Inc’s portfolio.

Cabelas Inc opened for trading at $48.38 and hit $49.15 on the upside on Friday, eventually ending the session at $49.06, with a gain of 1.55% or 0.75 points. The heightened volatility saw the trading volume jump to 3,71,992 shares. Company has a market cap of $3,349 M.

On the company’s financial health, Cabelas Inc reported $0.43 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.39. The company had revenue of $864.70 million for the quarter, compared to analysts expectations of $892.27 million. The company’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 EPS.

Cabela’s Incorporated is a specialty retailer and a direct marketer of hunting fishing camping and related outdoor merchandise. The Company operates under the following segments: Retail Direct Financial Services and Corporate Overhead and Other. The Retail Business segment enables customers to access and use its retail stores Web and social media channels and catalogs. The Direct Business segment sells products through its e-commerce Websites and direct mail catalogs. The Financial Services Business segment provides customers with a rewards program. The Company’s products include merchandise and equipment for hunting fishing marine use and camping along with casual and outdoor apparel and footwear optics wildlife and land management products and services vehicle accessories and gifts and home furnishings among others.

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