Sandell Asset Management Corp Lowers stake in Bob Evans Farms Inc (BOBE)

Bob Evans Farms Inc (BOBE) : Sandell Asset Management Corp reduced its stake in Bob Evans Farms Inc by 1.98% during the most recent quarter end. The investment management company now holds a total of 1,377,561 shares of Bob Evans Farms Inc which is valued at $64.2 Million after selling 27,844 shares in Bob Evans Farms Inc , the firm said in a disclosure report filed with the SEC on May 13, 2016.Bob Evans Farms Inc makes up approximately 21.67% of Sandell Asset Management Corp’s portfolio.

Other Hedge Funds, Including , Argentus Capital Management boosted its stake in BOBE in the latest quarter, The investment management firm added 1,352 additional shares and now holds a total of 7,350 shares of Bob Evans Farms Inc which is valued at $342,584. Bob Evans Farms Inc makes up approx 0.12% of Argentus Capital Management’s portfolio.Ubs Asset Management Americas Inc reduced its stake in BOBE by selling 400 shares or 3.67% in the most recent quarter. The Hedge Fund company now holds 10,499 shares of BOBE which is valued at $489,358.Norges Bank boosted its stake in BOBE in the latest quarter, The investment management firm added 7,081 additional shares and now holds a total of 198,764 shares of Bob Evans Farms Inc which is valued at $9.3 Million. Airain Ltd sold out all of its stake in BOBE during the most recent quarter. The investment firm sold 5,748 shares of BOBE which is valued $267,914.

Bob Evans Farms Inc opened for trading at $45.17 and hit $45.81 on the upside on Wednesday, eventually ending the session at $44.97, with a gain of 0.18% or 0.08 points. The heightened volatility saw the trading volume jump to 3,33,437 shares. Company has a market cap of $890 M.

On the company’s financial health, Bob Evans Farms Inc reported $0.62 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Mar 1, 2016. Analyst had a consensus of $0.55. The company had revenue of $346.50 million for the quarter, compared to analysts expectations of $344.58 million. The company’s revenue was down -3.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.60 EPS.

Many Wall Street Analysts have commented on Bob Evans Farms Inc. Maxim Group Initiated Bob Evans Farms Inc on May 17, 2016 to “Buy”, Price Target of the shares are set at $59.Sidoti Initiated Bob Evans Farms Inc on May 11, 2016 to “Buy”, Price Target of the shares are set at $60.

Bob Evans Farms Inc. (Bob Evans) is a full-service restaurant company. The Company operates 567 Bob Evans Restaurants and licenses four Bob Evans Express locations in 19 states. The Company also 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. Additionally the Company manufactures and sells similar products to foodservice accounts including Bob Evans Restaurants and other restaurants and food sellers. The Company operates in two segments: Bob Evans Restaurants and BEF Foods. Through its restaurant segment the Company offers its customers a range of breakfast lunch and dinner items either on a dine-in or carryout basis in family-friendly settings. The Company’s BEF foods segment offers a range of wholesome food products to retail and foodservice customers.

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