Sandell’s Bullish Move On Bob Evans Farms Inc (BOBE), Should You Follow Suit?

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What do hedgies think about Bob Evans Farms Inc (NASDAQ:BOBE)?

According to hedge fund intelligence website Insider Monkey, Discovery Capital Management, managed by Rob Citrone, holds the most valuable position in Bob Evans Farms Inc (NASDAQ:BOBE). Discovery Capital Management has a $101.8 million position in the stock, comprising 1.2% of its 13F portfolio. The second-most bullish hedge fund manager is Sandell Asset Management. Other members of the smart money that hold long positions encompass Chuck Royce‘s Royce & Associates, Jacob Gottlieb’s Visium Asset Management, and Gordy Holterman and Derek Dunn’s Overland Advisors.

Bob Evans Farms Inc (NASDAQ:BOBE)’s forward earnings multiple of 23.02 falls somewhere in the middle of the range for the restaurant industry, and the stock also offers a dividend yield of 2.34%. Although the insider purchases give off a buy signal, given the company’s fundamentals and hedge fund sentiment, we feel that there might be more profitable opportunities to invest in elsewhere.

Disclosure: None

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