Post expands refrigerated foods line, acquires Bob Evans

20 September 2017, 12:29 | Andres Norman

Wayne National Forest CC BY 2.0

Wayne National Forest                                                                   CC BY 2.0

Finally, BidaskClub lowered shares of Bob Evans Farms from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, July 12th. On Wednesday, May 11 the stock rating was initiated by Sidoti with "Buy".

1/4/2017-Citigroup Inc. was Downgraded by analysts at Citigroup Inc. from a "Positive " rating to a " Market Perform" rating. The mean target price as estimated by the analysts for the company has been recorded at $75.75.

Short traders are feeling a little more bearish on Bob Evans Farms, Inc. of late if you consider the increase in short interest. The stock of Sientra Inc (NASDAQ:SIEN) has "Buy" rating given on Monday, August 28 by Canaccord Genuity.

A number of analysts recently weighed in on the stock.

To: All Persons or Entities who purchased Bob Evans Farms, Inc.

The deal joins Post, which markets favorites such as Honey Bunches of Oats and Pebbles, with Evans' pork sausages to provide the St. Louis-based company a bigger share of the breakfast market.

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The stock last traded at $77.37 which is quite a bit higher than $67.18, the stock's 50 day moving average and quite a bit higher than the 200 day moving average of $67.02. Ancora Advsr Ltd invested 0.3% in Bob Evans Farms Inc (NASDAQ:BOBE). The restaurant operator reported $0.37 earnings per share (EPS) for the quarter, meeting the Zacks' consensus estimate of $0.37. Bob Evans Farms had a net margin of 19.49% and a return on equity of 19.52%. As of the last earnings report the EPS was $6.16 and is estimated to be $2.19 for the current year with 19,942,000 shares now outstanding. The legal version of this piece of content can be accessed at Annual EPS Growth of past 5 years is 46.40%.

CEO Rob Vitale noted that Evans expands Post's presence in foodservice and higher growth categories of the packaged food market. This translates into $6.98M profit for BOBE giving the stock a 55.49 P/E. If you are viewing this piece of content on another website, it was illegally copied and reposted in violation of United States & worldwide trademark & copyright law. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock.

Brokerage firms have released opinions on the stock recently. About 5.30M shares traded or 1483.43% up from the average. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Shares of Bob Evans Farms closed the previous trading session at with shares trading hands. Outstanding shares refer to a company's stock presently held by all its shareholders, counting share blocks held by institutional shareholders and restricted shares owned by the company's officers and insiders.

The Board of Directors for both Post Holdings Inc and Bob Evans Farms Inc have both given their approval to the deal. Short shares increased 273,246 over that period. Point72 Asset Management, L.p. now controls 360,600 shares valued at $25,902,000. Miles Capital Inc. boosted its stake in shares of Bob Evans Farms by 0.3% during the 1st quarter. Northern Trust Corp now owns 745,225 shares of the restaurant operator's stock valued at $53,530,000 after acquiring an additional 13,564 shares during the period. EPS ratio determined by looking at last 12 month figures is 0.96. Institutional investors and hedge funds own 76.85% of the company's stock.

Founded in 1948, Evans distributes sausages, refrigerated potato/pasta/vegetable side dishes and frozen convenience items under the Bob Evans, Owens, Country Creek and Pineland Farms brands. The Company's food products are distributed to customers throughout the United States.

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