Pacific Grove Capital Lp buys $9,868,058 stake in Cabelas Inc (CAB)

Cabelas Inc (CAB) : Pacific Grove Capital Lp scooped up 31,019 additional shares in Cabelas Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 162,705 shares of Cabelas Inc which is valued at $9,868,058.Cabelas Inc makes up approximately 4.90% of Pacific Grove Capital Lp’s portfolio.

Other Hedge Funds, Including , Matthew 25 Management Corp reduced its stake in CAB by selling 170,000 shares or 29.31% in the most recent quarter. The Hedge Fund company now holds 410,000 shares of CAB which is valued at $25,338,000. Cabelas Inc makes up approx 7.35% of Matthew 25 Management Corp’s portfolio. South Dakota Investment Council sold out all of its stake in CAB during the most recent quarter. The investment firm sold 14,000 shares of CAB which is valued $865,200.Teacher Retirement System Of Texas reduced its stake in CAB by selling 1,419 shares or 22.83% in the most recent quarter. The Hedge Fund company now holds 4,796 shares of CAB which is valued at $292,844.

Cabelas Inc opened for trading at $61.05 and hit $61.78 on the upside on Monday, eventually ending the session at $61.63, with a gain of 0.82% or 0.5 points. The heightened volatility saw the trading volume jump to 5,07,007 shares. Company has a market cap of $4,220 M.

On the company’s financial health, Cabelas Inc reported $0.53 EPS for the quarter, missing the analyst consensus estimate by $ -0.28 based on the information available during the earnings call on Oct 26, 2016. Analyst had a consensus of $0.81. The company had revenue of $996.50 million for the quarter, compared to analysts expectations of $1016.08 million. The company’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.71 EPS.

Many Wall Street Analysts have commented on Cabelas Inc. Company shares were Downgraded by Barclays on Oct 4, 2016 to ” Equal Weight”, Firm has raised the Price Target to $ 64 from a previous price target of $50 .

Cabela’s Incorporated is a specialty retailer and a direct marketer of hunting fishing camping and related outdoor merchandise. The Company operates under the following segments: Retail Direct Financial Services and Corporate Overhead and Other. The Retail Business segment enables customers to access and use its retail stores Web and social media channels and catalogs. The Direct Business segment sells products through its e-commerce Websites and direct mail catalogs. The Financial Services Business segment provides customers with a rewards program. The Company’s products include merchandise and equipment for hunting fishing marine use and camping along with casual and outdoor apparel and footwear optics wildlife and land management products and services vehicle accessories and gifts and home furnishings among others.

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