They report Thursday. $72.50 at the high today. Way over-valued. Rumors of consolidation in the packaged food industry. Well that may be down the road.... but its waaay down the road for BOBE. They're still working through selling off the restaurants and buying the potato operation in Maine, I don't see any buyouts happening for at least several more quarters. They do have a strong established footprint in the grocery stores, I'll give em that. And Americans are lazy, pre-made dinners seem to be all the rage. I could see Smuckers or the likes buying them... in the future. This will be the first ER since the restructuring. I expect the CC to be all rosey of course. "The future has never been brighter". Straddle priced for a 5% move. Or short outright on strength above today's high. If they executed well.... who knows. But I think its a good short for the time being. 54 forward PE is pretty lofty for this sector imo. Do your own DD.
If.... and its a big if.... this thing takes off out of the gate tomorrow on whatever they say... Short the spit out of it. If you can get north of $76 and can tie the money up.... you owe me dinner. This is a $59 stock. Tops. And thats being REALLY irrationally exuberant. Its free money.
Reading through things here on the 8K... Its not going to see $59 any time soon as I previously stated. They have a $100 Million buyback in place and this thing only trades like 200K/day. They put a floor under it at $67 today. Dead money for now with a slight upward bias to low $70's. http://archive.fast-edgar.com//20170615/AD2ZL222Z222A2Z2222K22XZQ5GPZ6U22C92/ ▪ Fourth quarter net sales from continuing operations* totals $99.9 million, an increase of 4.9 percent from 13 week comparable fiscal 2016 (excludes 53rd week); consolidated GAAP net income of $5.39 per diluted share compared to $0.03 in the prior year and non-GAAP net income of $0.61 per diluted share, an increase of 27.1% from $0.48 in the prior year; ▪ Fiscal year 2017 net sales from continuing operations totals $394.8 million, an increase of 3.8 percent from the 52 week comparable fiscal 2016 (excludes 53rd week); consolidated GAAP net income of $6.28 per diluted share compared to $1.13 in the prior year and non-GAAP net income of $2.38 per diluted share, an increase of 17.8% from $2.02 in the prior year; ▪ Fourth quarter retail side-dish and sausage pounds sold increased 11.5 percent and 9.2 percent, respectively, when compared on a 13 week vs. 13 week basis. Q4 food service volume increased 5.7 percent, also on a 13 week vs. 13 week comparison; ▪ On May 1, 2017, the Company completed the previously announced acquisition of Pineland Farms Potato Company; ▪ On April 28, 2017, the Company completed the sale of the Bob Evans Restaurants segment and completed a new $300 million credit facility; ▪ Company reiterates fiscal year 2018 guidance for net sales of $470 million at the midpoint of its range and EBITDA of $105 million at the midpoint of its range; and initiates guidance for diluted EPS of $2.06 to $2.24; ▪ Quarterly dividend of $0.34 per share payable on June 26, 2017, to stockholders of record at the close of business on June 12, 2017. Special dividend of $7.50 per share is payable June 16, 2017. $100 million share repurchase authorization remains in place through December 31, 2017.
$68 today. btw.... remember when I said CAKE was a $49 stock when it was $64 a few months ago.... $49 today