Quantitative Investment Management LLC purchased a new stake in Bed Bath & Beyond Inc. (NASDAQ:BBBY) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 347,700 shares of the retailer’s stock, valued at approximately $7,645,000. Quantitative Investment Management LLC owned approximately 0.24% of Bed Bath & Beyond at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of the stock. BlueCrest Capital Management Ltd purchased a new stake in shares of Bed Bath & Beyond in the fourth quarter valued at approximately $549,000. Towle & Co. acquired a new position in Bed Bath & Beyond during the fourth quarter worth $22,398,000. Amundi Pioneer Asset Management Inc. acquired a new position in Bed Bath & Beyond during the fourth quarter worth $3,939,000. Quinn Opportunity Partners LLC raised its holdings in Bed Bath & Beyond by 15.0% during the fourth quarter. Quinn Opportunity Partners LLC now owns 214,000 shares of the retailer’s stock worth $4,706,000 after purchasing an additional 27,883 shares during the last quarter. Finally, Landscape Capital Management L.L.C. acquired a new position in Bed Bath & Beyond during the fourth quarter worth $1,085,000. Hedge funds and other institutional investors own 91.33% of the company’s stock.
In other Bed Bath & Beyond news, VP Matthew Fiorilli sold 16,957 shares of the business’s stock in a transaction dated Thursday, December 28th. The stock was sold at an average price of $22.62, for a total transaction of $383,567.34. Following the completion of the sale, the vice president now owns 97,419 shares of the company’s stock, valued at $2,203,617.78. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.00% of the stock is currently owned by insiders.
Bed Bath & Beyond (NASDAQ:BBBY) last posted its quarterly earnings results on Wednesday, December 20th. The retailer reported $0.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.07. Bed Bath & Beyond had a return on equity of 19.07% and a net margin of 4.11%. The firm had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter in the previous year, the business earned $0.85 earnings per share. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. equities analysts predict that Bed Bath & Beyond Inc. will post 3.01 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 17th. Shareholders of record on Friday, March 16th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend is Thursday, March 15th. Bed Bath & Beyond’s dividend payout ratio (DPR) is presently 17.24%.
Several equities analysts recently issued reports on the company. Morgan Stanley set a $22.00 price objective on Bed Bath & Beyond and gave the stock a “sell” rating in a report on Thursday, December 21st. BidaskClub raised Bed Bath & Beyond from a “sell” rating to a “hold” rating in a report on Thursday, December 21st. Barclays reduced their price objective on Bed Bath & Beyond from $30.00 to $25.00 and set an “equal weight” rating for the company in a report on Thursday, December 21st. Telsey Advisory Group reaffirmed a “market perform” rating on shares of Bed Bath & Beyond in a report on Thursday, January 25th. Finally, JPMorgan Chase & Co. cut Bed Bath & Beyond from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $23.03 to $18.00 in a report on Friday, January 26th. Nine investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and two have assigned a buy rating to the stock. Bed Bath & Beyond presently has an average rating of “Hold” and a consensus target price of $25.39.
Bed Bath & Beyond Company Profile
Bed Bath & Beyond Inc is a retailer, which operates under the names Bed Bath & Beyond (BBB), Christmas Tree Shops, Christmas Tree Shops andThat! or andThat! (collectively, CTS), Harmon or Harmon Face Values (collectively, Harmon), buybuy BABY (Baby) and World Market, Cost Plus World Market or Cost Plus (collectively, Cost Plus World Market).
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