Bed Bath & Beyond Inc. (BBBY) Shares Bought by Alps Advisors Inc.

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Alps Advisors Inc. increased its stake in shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY) by 13.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,957 shares of the retailer’s stock after purchasing an additional 3,369 shares during the quarter. Alps Advisors Inc.’s holdings in Bed Bath & Beyond were worth $557,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Isthmus Partners LLC lifted its stake in shares of Bed Bath & Beyond by 0.9% in the second quarter. Isthmus Partners LLC now owns 313,450 shares of the retailer’s stock valued at $6,245,000 after buying an additional 2,756 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of Bed Bath & Beyond by 329.1% in the second quarter. Wells Fargo & Company MN now owns 699,235 shares of the retailer’s stock valued at $13,931,000 after buying an additional 536,288 shares in the last quarter. Commonwealth Equity Services LLC bought a new position in shares of Bed Bath & Beyond in the second quarter valued at $205,000. Aperio Group LLC lifted its stake in shares of Bed Bath & Beyond by 6.6% in the second quarter. Aperio Group LLC now owns 427,408 shares of the retailer’s stock valued at $8,516,000 after buying an additional 26,626 shares in the last quarter. Finally, BNP Paribas Arbitrage SA lifted its stake in shares of Bed Bath & Beyond by 37.1% in the second quarter. BNP Paribas Arbitrage SA now owns 244,499 shares of the retailer’s stock valued at $4,872,000 after buying an additional 66,170 shares in the last quarter. Hedge funds and other institutional investors own 93.39% of the company’s stock.

In related news, insider Eugene A. Castagna sold 25,000 shares of the firm’s stock in a transaction dated Thursday, July 5th. The shares were sold at an average price of $20.81, for a total transaction of $520,250.00. Following the completion of the sale, the insider now owns 124,255 shares in the company, valued at $2,585,746.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.50% of the company’s stock.

Shares of BBBY stock opened at $18.15 on Friday. The stock has a market capitalization of $2.57 billion, a PE ratio of 5.82 and a beta of 0.96. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.86 and a quick ratio of 0.62. Bed Bath & Beyond Inc. has a one year low of $16.52 and a one year high of $29.63.

Bed Bath & Beyond (NASDAQ:BBBY) last announced its earnings results on Wednesday, June 27th. The retailer reported $0.33 EPS for the quarter, beating the Thomson Reuters’ 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 company had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter in the prior year, the company posted $0.58 earnings per share. The firm’s revenue for the quarter was up .4% on a year-over-year basis. equities research analysts anticipate 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 issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $0.64 dividend on an annualized basis and a yield of 3.53%. Bed Bath & Beyond’s dividend payout ratio (DPR) is presently 20.51%.

Several analysts have recently commented on the stock. BidaskClub upgraded shares of Bed Bath & Beyond from a “hold” rating to a “buy” rating in a report on Tuesday, June 12th. Credit Suisse Group set a $20.00 target price on shares of Bed Bath & Beyond and gave the company a “hold” rating in a report on Friday, June 29th. Standpoint Research downgraded shares of Bed Bath & Beyond from a “buy” rating to a “hold” rating in a report on Tuesday, August 14th. Zacks Investment Research upgraded shares of Bed Bath & Beyond from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 12th. Finally, Wells Fargo & Co reiterated a “sell” rating and issued a $16.00 target price on shares of Bed Bath & Beyond in a report on Wednesday, June 27th. Eight investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a strong buy rating to the company. Bed Bath & Beyond presently has a consensus rating of “Hold” and an average price target of $20.00.

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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Institutional Ownership by Quarter for Bed Bath & Beyond (NASDAQ:BBBY)

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