Yes. In Durham, NC. The food is pretty good overall. My wife and I do breakfast there on weekends. No real diners to speak of in this area.
Looking for a decent place to hide? I use POT. Share price appreciation possibilities way better than average and a better than 4% yield presently. As to BOBE, their food is in serious need of upgrading. To much food is brought in already cooked and just warmed up at the restaurant. If I want that type of food, I can go to a Gordon's Food Service Marketplace, and buy the same type of menu items and warm it up at home myself. The BOBE classic menu items like their sausage gravy, and chicken & noodles are not even close in quality to what they use to be. Brown & serve sausage used in place of cooking from fresh, eggs only cracked when a fried or poached egg is ordered, otherwise its a egg poured from a carton. The food has a long way to go to get back to where it was during their heyday, and the portions are meager at best. BOBE is beginning to remind me of Bill Knapp's on steroids, and that ended badly!
In one of their restaurants? Well, of course! I wouldn't have taken a position absent this experience. Anyway, it's sort of like a Cracker Barrel (but brighter with a nice oak and brass look, and more modern, e.g. devoid of the chintzy decor, which I am not pooh-poohing because CRBL works for me too). Anyway, decent food and fair prices are the real motif. And this is true at more than my local store, which we frequent a couple times a month (going back ten years), because we've had the same experience in the several others we've stopped at while traveling. After all, the point with BOBE (as with all chain restaurants) is to provide a 'known' meal. They succeed.
Anyway, having engaged in some characteristic bottom fishing (when the issue was slammed recently) I have no qualms or regrets in my BOBE ownership experience. However, I had the history of personal experience to back up my research, which is I suspect why you're asking. FWIW, I believe the reason for the consistency is they own all the stores, e.g. they have no franchisees screwing with the formula.
Finally, if you like breakfast, try their sausage, which we find superior to standard fare delivered by Sysco at many restaurants. Just saying.
Take my views with a grain of salt as well because I have a few blocks in this issue.
Anyway, I also picked some up some shares for similar reasons (price hammered, no exposure to currencies) and to answer your question, we eat at our local restaurant a couple times a month. For how long? Going back ten years. Why buy shares? I've been in several locales in my travels and one thing they share in common is they're a nice place to eat, with good food, and fair prices.
Am I looking for a big appreciation in the stock price? No, not really, but I wouldn't be surprised at some positive movement as investors realize most restaurant plays (McD's etc.) have international exposure, which can hurt them.
Thus, for me, it's more a matter of a a decent place to hide . . . added to which, a 2.8% yield is nothing to sneeze at.
I wouldn't read anything into this. The timing is just prior to the end of their fiscal year, and officers are required to hold a certain number of shares each year. Townsley sold off 1,000 shares last year. Looks like he's buying some of it back.
03/06/2015 Douglas N. Benham Director 3,500 $46.79 $163,775.00
03/06/2015 J. Michael Townsley PRESIDENT FOOD PRODUCTS 500 $46.00 $23,000.00
03/06/2015 Mark E. Hood CFO 2,500 $47.13 $117,819.75
03/11/2015 Larry S. McWilliams Director 2,145 $46.29 $99,292.05
BOBE again came up on moneylife on 3/18 as sell of the week. Seems the commentator on 9/8 was right last time around. This commentator (a different one from 9/8) said the price could potentially drop up to another 30%.
Take my view with a grain of salt because I have a position in BOBE.
With so much of the S&P dependent on foreign earnings, I happily picked up a few shares of BOBE recently (when it got hammered). Why? Simply because its principal exposure is to purely domestic concerns. Basically, I'm a bargain hunter and find it hard to beat a good product - especially when it's on sale, which is why I had no qualms pulling the trigger the other day. That, and I love eating breakfast at our local restaurant.
All suit and no substance. It looks like Ariel Capital knew what they were doing when they headed for the exit and sold off almost their entire position much earlier in the Davis regime. 9,200 share of Bob Evans now held in their small cap value fund. At one time, this fund held almost 20% of the outstanding shares of BOBE. What did they know, and when did they know it????
Agreed. They have just replaced BOGO w/ Buy one, get one 1/2 price; should generate same amount of revenue w/ more to bottom line. Rumors of splitting grocery from restaurant, and separating real estate will eventually drive price back up. I'm thrilled with pull back, gave me reasonable entry point.
Sentiment: Strong Buy
Sinking ... hardly ... a lot of analysts were speculating that something would happen, a sale/spinoff ... this was not based on any public information from the company itself. Bob Evans has issues, but do you not think the folk in New Albany already realize this. The company has been under new leadership for a couple of months. Change takes time.