Canada Pension Plan Investment Board Has $8.20 Million Stake in Bed Bath & Beyond Inc. (BBBY)

Canada Pension Plan Investment Board reduced its holdings in shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY) by 8.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 546,781 shares of the retailer’s stock after selling 49,200 shares during the quarter. Canada Pension Plan Investment Board owned 0.40% of Bed Bath & Beyond worth $8,202,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of BBBY. Towle & Co. boosted its holdings in Bed Bath & Beyond by 35.4% during the second 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 during the last quarter. Bank of New York Mellon Corp raised its position in 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 worth $52,636,000 after acquiring an additional 297,632 shares during the period. Advisory Services Network LLC raised its position in Bed Bath & Beyond by 115,725.0% in the third quarter. Advisory Services Network LLC now owns 46,330 shares of the retailer’s stock worth $695,000 after acquiring an additional 46,290 shares during the period. Strs Ohio bought a new stake in Bed Bath & Beyond in the second quarter worth about $1,436,000. Finally, FMR LLC raised its position in Bed Bath & Beyond by 4.2% in the third quarter. FMR LLC now owns 14,451,051 shares of the retailer’s stock worth $216,766,000 after acquiring an additional 582,329 shares during the period. Hedge funds and other institutional investors own 97.51% of the company’s stock.

NASDAQ BBBY opened at $12.45 on Friday. Bed Bath & Beyond Inc. has a 12-month low of $11.97 and a 12-month high of $24.74. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.60 and a current ratio of 1.75. The company has a market capitalization of $1.70 billion, a PE ratio of 3.99, a price-to-earnings-growth ratio of 6.11 and a beta of 0.92.

Bed Bath & Beyond (NASDAQ:BBBY) last posted its quarterly earnings results on Wednesday, September 26th. The retailer reported $0.36 earnings per share (EPS) for the quarter, missing the 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 business had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $2.96 billion. During the same period last year, the firm earned $0.77 EPS. The business’s revenue for the quarter was up .0% on a year-over-year basis. Research analysts predict that Bed Bath & Beyond Inc. will post 2.01 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Friday, December 14th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 5.14%. The ex-dividend date of this dividend is Thursday, December 13th. Bed Bath & Beyond’s dividend payout ratio (DPR) is currently 20.51%.

Several analysts have commented on the stock. Citigroup lowered their price objective on shares of Bed Bath & Beyond from $13.00 to $10.00 and set a “sell” rating on the stock in a research report on Monday, December 3rd. Zacks Investment Research raised shares of Bed Bath & Beyond from a “strong sell” rating to a “buy” rating and set a $15.00 price objective on the stock in a research report on Tuesday, November 27th. Argus lowered shares of Bed Bath & Beyond from a “buy” rating to a “hold” rating in a research report on Monday, October 1st. Morgan Stanley lowered their price objective on shares of Bed Bath & Beyond from $16.00 to $13.00 and set an “underweight” rating on the stock in a research report on Friday, September 28th. Finally, ValuEngine lowered shares of Bed Bath & Beyond from a “hold” rating to a “sell” rating in a research report on Thursday, September 27th. Nine investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $15.64.

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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.

Further Reading: Leveraged Buyout (LBO)

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

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