Malaga Cove Capital LLC Buys New Position in Bed Bath & Beyond Inc. (BBBY)

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Malaga Cove Capital LLC bought a new stake in shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 27,711 shares of the retailer’s stock, valued at approximately $414,000.

Other large investors also recently modified their holdings of the company. Bank of Montreal Can lifted its stake in shares of Bed Bath & Beyond by 58.4% in the 3rd quarter. Bank of Montreal Can now owns 208,782 shares of the retailer’s stock valued at $3,132,000 after purchasing an additional 77,011 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Bed Bath & Beyond by 67.0% in the 2nd quarter. Northern Trust Corp now owns 2,333,483 shares of the retailer’s stock valued at $46,495,000 after purchasing an additional 936,407 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Bed Bath & Beyond by 12.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,641,692 shares of the retailer’s stock valued at $52,636,000 after purchasing an additional 297,632 shares during the last quarter. Nomura Holdings Inc. lifted its stake in shares of Bed Bath & Beyond by 385.4% in the 2nd quarter. Nomura Holdings Inc. now owns 90,333 shares of the retailer’s stock valued at $1,800,000 after purchasing an additional 71,723 shares during the last quarter. Finally, Verition Fund Management LLC acquired a new stake in shares of Bed Bath & Beyond in the 2nd quarter valued at $1,495,000. 93.17% of the stock is owned by institutional investors.

Bed Bath & Beyond stock opened at $13.94 on Tuesday. The firm has a market cap of $2.10 billion, a price-to-earnings ratio of 4.47, a PEG ratio of 7.43 and a beta of 0.96. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.75 and a quick ratio of 0.60. Bed Bath & Beyond Inc. has a fifty-two week low of $13.41 and a fifty-two week high of $24.74.

Bed Bath & Beyond (NASDAQ:BBBY) last released its earnings results on Wednesday, September 26th. The retailer reported $0.36 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.13). Bed Bath & Beyond had a return on equity of 12.52% and a net margin of 2.81%. The firm had revenue of $2.94 billion for the quarter, compared to analyst estimates of $2.96 billion. During the same period in the prior year, the firm earned $0.77 EPS. The firm’s revenue was up .0% on a year-over-year basis. Equities analysts forecast that Bed Bath & Beyond Inc. will post 2.02 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Friday, December 14th will be issued a dividend of $0.16 per share. The ex-dividend date is Thursday, December 13th. This represents a $0.64 annualized dividend and a dividend yield of 4.59%. Bed Bath & Beyond’s payout ratio is 20.51%.

Several equities research analysts recently issued reports on BBBY shares. BidaskClub lowered shares of Bed Bath & Beyond from a “hold” rating to a “sell” rating in a research note on Saturday, August 4th. JPMorgan Chase & Co. cut their target price on shares of Bed Bath & Beyond from $16.00 to $14.00 and set an “underweight” rating for the company in a research report on Thursday, September 27th. Zacks Investment Research raised shares of Bed Bath & Beyond from a “sell” rating to a “hold” rating in a research report on Thursday, September 6th. Argus lowered shares of Bed Bath & Beyond from a “buy” rating to a “hold” rating in a research report on Monday, October 1st. Finally, Credit Suisse Group cut their target price on shares of Bed Bath & Beyond from $20.00 to $18.00 and set a “hold” rating for the company in a research report on Thursday, September 27th. Ten equities research analysts have rated the stock with a sell rating and twelve have given a hold rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $17.07.

Bed Bath & Beyond Profile

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.

Further Reading: Insider Trading

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

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