Schwab Charles Investment Management Inc. increased its holdings in Bed Bath & Beyond Inc. (NASDAQ:BBBY) by 46.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,254,983 shares of the retailer’s stock after purchasing an additional 400,112 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.90% of Bed Bath & Beyond worth $25,006,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Towle & Co. raised its holdings in shares of Bed Bath & Beyond by 35.4% in the 2nd quarter. Towle & Co. now owns 1,809,040 shares of the retailer’s stock worth $36,045,000 after purchasing an additional 472,860 shares in the last quarter. Strs Ohio bought a new stake in shares of Bed Bath & Beyond in the 2nd quarter worth approximately $1,436,000. Whittier Trust Co. raised its holdings in shares of Bed Bath & Beyond by 611.5% in the 2nd quarter. Whittier Trust Co. now owns 4,326 shares of the retailer’s stock worth $248,000 after purchasing an additional 3,718 shares in the last quarter. Arnhold LLC bought a new stake in shares of Bed Bath & Beyond in the 1st quarter worth approximately $2,219,000. Finally, BNP Paribas Arbitrage SA raised its holdings in shares of Bed Bath & Beyond by 37.1% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 244,499 shares of the retailer’s stock worth $4,872,000 after purchasing an additional 66,170 shares in the last quarter. Institutional investors and hedge funds own 93.39% of the company’s stock.
In related news, insider Eugene A. Castagna sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, July 5th. The shares were sold at an average price of $20.81, for a total transaction of $520,250.00. Following the transaction, the insider now directly owns 124,255 shares of the company’s stock, valued at $2,585,746.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.50% of the company’s stock.
BBBY has been the topic of a number of research reports. BidaskClub downgraded shares of Bed Bath & Beyond from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 12th. Zacks Investment Research upgraded shares of Bed Bath & Beyond from a “sell” rating to a “hold” rating in a report on Thursday. Wells Fargo & Co reissued a “sell” rating and issued a $16.00 target price on shares of Bed Bath & Beyond in a research report on Wednesday, June 27th. Standpoint Research downgraded shares of Bed Bath & Beyond from a “buy” rating to a “hold” rating in a research report on Tuesday, August 14th. Finally, Credit Suisse Group set a $20.00 target price on shares of Bed Bath & Beyond and gave the stock a “hold” rating in a research report on Friday, June 29th. Eight equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a strong buy rating to the company. Bed Bath & Beyond presently has an average rating of “Hold” and a consensus price target of $20.00.
Bed Bath & Beyond stock opened at $18.15 on Friday. The company has a market capitalization of $2.57 billion, a PE ratio of 6.12 and a beta of 0.96. The company has a current ratio of 1.86, a quick ratio of 0.62 and a debt-to-equity ratio of 0.51. Bed Bath & Beyond Inc. has a fifty-two week low of $16.52 and a fifty-two week high of $29.63.
Bed Bath & Beyond (NASDAQ:BBBY) last released its earnings results on Wednesday, June 27th. The retailer reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.02. Bed Bath & Beyond had a net margin of 3.18% and a return on equity of 14.73%. The business had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.75 billion. During the same period last year, the firm posted $0.58 earnings per share. The firm’s quarterly revenue was up .4% compared to the same quarter last year. equities research analysts predict that Bed Bath & Beyond Inc. will post 2.32 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 16th. Investors of record on Friday, September 14th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date of this dividend is Thursday, September 13th. Bed Bath & Beyond’s payout ratio is presently 20.51%.
About Bed Bath & Beyond
Bed Bath & Beyond Inc, together with its subsidiaries, operates a chain of retail stores. It sells a range of domestics merchandise, including bed linens and related items, bath items, and kitchen textiles; and home furnishings, such as kitchen and tabletop items, fine tabletop, basic housewares, general home furnishings, consumables, and various juvenile products.
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