Bob Evans Farms, Inc. (NASDAQ:BOBE) Issues Quarterly Earnings Results

Bob Evans Farms products

Post Holdings will acquire Bob Evans Farms for in a transaction valued at approximately $1.5 billion

Tom Sandell decreased its stake in Bob Evans Farms Inc (Call) (BOBE) by 58.04% based on its latest 2016Q4 regulatory filing with the SEC. The stock of Bob Evans Farms Inc (NASDAQ:BOBE) earned "Strong-Buy" rating by Zacks on Thursday, September 3.

The addition of Bob Evans is expected to strengthen Post's footprint in food service and is highly complementary to its portfolio of ready-to-eat cereal brands, including Pebbles, Honey Bunches of Oats, Malt-O-Meal and Weetabix; active nutrition brands, including PowerBar, Premier Protein and Dymatize; and value-add egg, potato and cheese brands, including Crystal Farms, Better'n Eggs, Simply Potatoes and All Whites. The Company operates through BEF Foods segment. If you are accessing this article on another domain, it was stolen and reposted in violation of United States and worldwide trademark & copyright legislation. Stifel Nicolaus maintained the stock with "Buy" rating in Monday, November 2 report.

Bob Evans Farms Inc and Post Holdings Inc are expecting the deal to close during the first quarter of 2018. Maxim Group reissued a buy rating and issued a $77.00 price objective on shares of Bob Evans Farms in a research note on Wednesday, August 30th. Berenberg Bank initiated coverage on shares of Bob Evans Farms in a research report on Wednesday, July 19th. They issued a neutral rating and a $76.00 price objective on the stock. The stock of Bob Evans Farms Inc (NASDAQ:BOBE) earned "Buy" rating by Maxim Group on Wednesday, December 7.

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Currently, the stock carries a price to earnings ratio of 26.4, a price to book ratio of 1.84, and a price to sales ratio of 0.38.

Bob Evans Farms Inc (NASDAQ:BOBE) stock was up on news of a $1.5-billion agreement with Post Holdings Inc (NYSE:POST). The firm's 50 day moving average price is $67.08 and its 200 day moving average price is $66.76. Bob Evans Farms had 16 analyst reports since August 31, 2015 according to SRatingsIntel. The ex-dividend date of this dividend is Wednesday, August 30th. The dividend payment was $0.340 per share for the quarter or $1.36 on an annualized basis. The firm had revenue of $109.30 million for the quarter, compared to analysts' expectations of $102.29 million. Bob Evans Farms had a return on equity of 19.52% and a net margin of 19.49%. For the past 5 years, the company's revenue has grown 10.3%, while the company's earnings per share has grown -6.7%.

TRADEMARK VIOLATION WARNING: "Bob Evans Farms, Inc. (BOBE) Raised to "Buy" at Zacks Investment Research" was first published by BBNS and is owned by of BBNS. If you are reading this article on another site, it was copied illegally and republished in violation of US and global copyright laws. Blackrock Advsrs Limited Liability Corp has invested 0.02% of its portfolio in Bob Evans Farms Inc (NASDAQ:BOBE).

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The company also recently declared a quarterly dividend, which will be paid on Monday, September 18th. Cutler Investment Counsel Ltd Liability Com owns 4,100 shares or 0.06% of their United States portfolio. 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. Bob Evans Farms has a one year low of $36.88 and a one year high of $75.34. The shares were sold at an average price of $70.70, for a total transaction of $501,970.00.

The addition of Bob Evans' portfolio of brands and products will enhance Post's refrigerated side dish offering, provide Post with a presence in breakfast sausage and will immediately provide Post with a leading position in the higher growth perimeter of the store. Capstone Asset Management has invested 0.01% of its portfolio in Bob Evans Farms Inc (NASDAQ:BOBE). Company insiders own 1.20% of the company's stock. Quantbot Technologies LP bought a new position in Bob Evans Farms during the second quarter valued at approximately $101,000. PNC Financial Services Group Inc. grew its position in Bob Evans Farms by 4.2% in the first quarter. Flinton Capital Management LLC now owns 1,408 shares of the restaurant operator's stock worth $101,000 after acquiring an additional 528 shares in the last quarter. Finally, Creative Planning raised its position in Bob Evans Farms by 65.4% during the second quarter. Creative Planning now owns 1,925 shares of the restaurant operator's stock worth $138,000 after acquiring an additional 761 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Bob Evans Farms by 0.6% during the second quarter. Fairpointe Capital Llc sold 189,025 shares as Interpublic Group (IPG)'s stock declined 0.78%.

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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. Additionally, the Company manufactures and sells similar products to foodservice customers, restaurants and food sellers.

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