First Mercantile Trust Co Lowers stake in Cabelas Inc (CAB)

Cabelas Inc (CAB) : First Mercantile Trust Co reduced its stake in Cabelas Inc by 48.14% during the most recent quarter end. The investment management company now holds a total of 9,855 shares of Cabelas Inc which is valued at $613,474 after selling 9,147 shares in Cabelas Inc , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Cabelas Inc makes up approximately 0.08% of First Mercantile Trust Co’s portfolio.

Other Hedge Funds, Including , Advisory Services Network boosted its stake in CAB in the latest quarter, The investment management firm added 360 additional shares and now holds a total of 1,010 shares of Cabelas Inc which is valued at $62,873. Cabelas Inc makes up approx 0.01% of Advisory Services Network’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in CAB by selling 10,576 shares or 47.12% in the most recent quarter. The Hedge Fund company now holds 11,869 shares of CAB which is valued at $752,257. North Star Asset Management Inc sold out all of its stake in CAB during the most recent quarter. The investment firm sold 13,530 shares of CAB which is valued $857,531.Washington Trust Bank reduced its stake in CAB by selling 505 shares or 35.31% in the most recent quarter. The Hedge Fund company now holds 925 shares of CAB which is valued at $58,627. Cabelas Inc makes up approx 0.01% of Washington Trust Bank’s portfolio.

Cabelas Inc closed down -0.9 points or -1.43% at $62.25 with 87,25,006 shares getting traded on Friday. Post opening the session at $63.15, the shares hit an intraday low of $62.18 and an intraday high of $63.2 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Cabelas Inc reported $0.59 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Jul 28, 2016. Analyst had a consensus of $0.62. The company had revenue of $929.90 million for the quarter, compared to analysts expectations of $905.15 million. The company’s revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 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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