Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Investors Are Acquiring A Taste For Bob Evans Farms Inc (BOBE)

While the market is being driven by short-term sentiment influenced by uncertainty regarding the future of the interest rate environment in the U.S, the low commodity prices, and the economic dip in China, many smart money investors are keeping their optimism regarding the current bull run, while nonetheless hedging many of their long positions. However, as we know, big investors usually buy stocks with strong fundamentals, which is why we believe we can profit from imitating them. In this article, we are going to take a look at the smart money sentiment surrounding Bob Evans Farms Inc (NASDAQ:BOBE).

Bob Evans Farms Inc (NASDAQ:BOBE) was in 22 hedge funds’ portfolios at the end of the third quarter of 2015. Bob Evans Farms Inc (NASDAQ:BOBE) investors should pay attention to an increase in hedge fund sentiment lately. There were 18 hedge funds in our database with Bob Evans Farms Inc (NASDAQ:BOBE) holdings at the end of the previous quarter. The level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost in popularity but it may still be less popular than similarly priced stocks. That’s why at the end of this article we will examine companies such as Ingles Markets, Incorporated (NASDAQ:IMKTA), Caesars Acquisition Company (NASDAQ:CACQ), and Spartan Stores, Inc. (NASDAQ:SPTN) to gather more data points.

Follow Bob Evans Farms Inc (NASDAQ:BOBE)
Trade (NASDAQ:BOBE) Now!

To most stock holders, hedge funds are seen as underperforming, old financial tools of years past. While there are more than 8,000 funds trading today, our experts choose to focus on the elite of this club, around 700 funds. These money managers watch over the majority of all hedge funds’ total asset base, and by keeping track of their unrivaled picks, Insider Monkey has uncovered a few investment strategies that have historically surpassed the market. Insider Monkey’s small-cap hedge fund strategy outpaced the S&P 500 index by 12 percentage points a year for a decade in their back tests.

Now, let’s review the latest action regarding Bob Evans Farms Inc (NASDAQ:BOBE).

What does the smart money think about Bob Evans Farms Inc (NASDAQ:BOBE)?

At the end of the third quarter, a total of 22 of the hedge funds tracked by Insider Monkey held long positions in this stock, a jump of 22% from one quarter earlier. With the smart money’s sentiment swirling, there exists an “upper tier” of noteworthy hedge fund managers who were boosting their stakes considerably (or already accumulated large positions).

When looking at the institutional investors followed by Insider Monkey, Discovery Capital Management, managed by billionaire Rob Citrone, holds the largest position in Bob Evans Farms Inc (NASDAQ:BOBE). Discovery Capital Management has an $80.2 million position in the stock, comprising 0.9% of its 13F portfolio. Sitting in the number 2 spot is Sandell Asset Management, managed by activist Tom Sandell, which holds a $70.3 million position; 10.9% of its 13F portfolio is allocated to the stock. Remaining professional money managers that are bullish contain Joel Greenblatt’s Gotham Asset Management, and Chuck Royce’s Royce & Associates.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.