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|52 Wk Low/High||35.63 / 50.29|
The company is getting out of the restaurant business at just the right time and rewarding shareholders too.
Bob Evans Restaurants ("Bob Evans" or "the Company") today announced the successful completion of the Company's previously announced acquisition by an affiliate of Golden Gate Capital from Bob Evans Farms, Inc.
The most recent short interest data has been released for the 02/28/2017 settlement date, which shows a 263,664 share decrease in total short interest for Bob Evans Farms Inc , to 1,203,184, a decrease of 17.97% since 02/15/2017. Total short interest is just one way to look at short data; another metric that we here at Dividend Channel find particularly useful is the "days to cover" metric because it considers both the total shares short and the average daily volume of shares traded.
Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Bob Evans Farms Inc , where a total of 7,642 contracts have traded so far, representing approximately 764,200 underlying shares. That amounts to about 407.1% of BOBE's average daily trading volume over the past month of 187,720 shares.
A study of analyst recommendations at the major brokerages shows that Bob Evans Farms Inc is the #33 broker analyst pick among those stocks screened by The Online Investor for strong stock buyback activity. To make that list, a stock must have repurchased at least 5% of its outstanding shares over the trailing twelve month period.
Bob Evans Farms raised its full year adjusted EPS expectations
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The cafeteria-style restaurant operator hasn't had a profitable year since 2013, though its real estate portfolio potentially is valuable.
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The stock rose Wednesday following an announcement that the company will sell its iconic restaurant chain. But this stock is too risky for investors looking for long-term profits.
It is very possible that once the restaurant business deal is closed, Sandell may push for a sale of the company's remaining sausage and side dish unit.
Sandell Asset Management Corp. ("Sandell"), a long-time shareholder of Bob Evans Farms, Inc.
Shares are falling after missing on estimates and lowering the full-year outlook.
Investors are likely to push markets higher Wednesday, either on optimism for the new administration in Washington or strong earnings.
Under pressure from the activist investor, Bob Evans said it had sold its restaurant business to buyout shop Golden Gate and will use cash to pay debt and for dividend
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