Trexquant Investment LP purchased a new stake in Bed Bath & Beyond Inc. (NASDAQ:BBBY) in the third quarter, HoldingsChannel reports. The institutional investor purchased 72,485 shares of the retailer’s stock, valued at approximately $1,087,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in BBBY. Towle & Co. raised its position in shares of Bed Bath & Beyond by 35.4% in the second quarter. Towle & Co. now owns 1,809,040 shares of the retailer’s stock valued at $36,045,000 after buying an additional 472,860 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Bed Bath & Beyond by 12.7% in the second 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 period. Strs Ohio acquired a new stake in Bed Bath & Beyond in the second quarter valued at approximately $1,436,000. Advisory Services Network LLC raised its holdings in Bed Bath & Beyond by 115,725.0% during the third quarter. Advisory Services Network LLC now owns 46,330 shares of the retailer’s stock worth $695,000 after purchasing an additional 46,290 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in Bed Bath & Beyond by 320.0% during the third quarter. SG Americas Securities LLC now owns 149,663 shares of the retailer’s stock worth $2,245,000 after purchasing an additional 114,031 shares in the last quarter. Institutional investors own 96.16% of the company’s stock.
BBBY has been the topic of a number of research reports. BidaskClub lowered shares of Bed Bath & Beyond from a “hold” rating to a “sell” rating in a research report on Saturday, August 4th. Standpoint Research lowered shares of Bed Bath & Beyond from a “buy” rating to a “hold” rating in a research report on Tuesday, August 14th. Zacks Investment Research downgraded Bed Bath & Beyond from a “hold” rating to a “sell” rating in a research note on Tuesday, August 28th. Wedbush set a $18.00 price target on Bed Bath & Beyond and gave the stock a “hold” rating in a research note on Thursday, September 13th. Finally, Raymond James raised shares of Bed Bath & Beyond from an “underperform” rating to a “market perform” rating in a research note on Monday, September 17th. Nine investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company. Bed Bath & Beyond currently has a consensus rating of “Hold” and an average price target of $15.86.
Bed Bath & Beyond (NASDAQ:BBBY) last issued its quarterly earnings data on Wednesday, September 26th. The retailer reported $0.36 EPS for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.13). Bed Bath & Beyond had a net margin of 2.81% and a return on equity of 12.52%. The company 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 company posted $0.77 EPS. The business’s revenue was up .0% on a year-over-year basis. On average, research analysts forecast that Bed Bath & Beyond Inc. will post 2.01 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Friday, December 14th will be given a $0.16 dividend. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.64 annualized dividend and a yield of 4.97%. Bed Bath & Beyond’s payout ratio is 20.51%.
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.
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