Prudential Financial Inc. decreased its stake in shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY) by 12.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 435,529 shares of the retailer’s stock after selling 59,322 shares during the period. Prudential Financial Inc. owned approximately 0.32% of Bed Bath & Beyond worth $6,533,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Signaturefd LLC increased its position in shares of Bed Bath & Beyond by 124.8% during the second quarter. Signaturefd LLC now owns 5,930 shares of the retailer’s stock worth $118,000 after acquiring an additional 3,292 shares in the last quarter. Ardsley Advisory Partners bought a new stake in shares of Bed Bath & Beyond during the second quarter worth $199,000. Commonwealth Equity Services LLC bought a new stake in shares of Bed Bath & Beyond during the second quarter worth $205,000. DRW Securities LLC bought a new position in Bed Bath & Beyond in the second quarter valued at $229,000. Finally, Wedbush Securities Inc. bought a new position in Bed Bath & Beyond in the second quarter valued at $233,000. 97.51% of the stock is owned by institutional investors.
A number of research analysts recently weighed in on the stock. Citigroup decreased their target price on shares of Bed Bath & Beyond from $13.00 to $10.00 and set a “sell” rating for the company 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 target price for the company in a research report on Tuesday, November 27th. Argus downgraded shares of Bed Bath & Beyond from a “buy” rating to a “hold” rating in a research report on Monday, October 1st. Morgan Stanley decreased their target price on shares of Bed Bath & Beyond from $16.00 to $13.00 and set an “underweight” rating for the company in a research report on Friday, September 28th. Finally, ValuEngine downgraded shares of Bed Bath & Beyond from a “hold” rating to a “sell” rating in a research report on Thursday, September 27th. Nine analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $15.64.
Shares of BBBY opened at $12.45 on Friday. Bed Bath & Beyond Inc. has a one year low of $11.97 and a one year high of $24.74. The stock has a market capitalization of $1.71 billion, a PE ratio of 4.76, a PEG ratio of 6.16 and a beta of 0.92. The company has a quick ratio of 0.60, a current ratio of 1.75 and a debt-to-equity ratio of 0.51.
Bed Bath & Beyond (NASDAQ:BBBY) last announced its quarterly earnings data on Wednesday, September 26th. The retailer reported $0.36 EPS for the quarter, missing analysts’ consensus estimates 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 firm 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 business earned $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 earnings per share for the current fiscal year.
The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 5.14%. The ex-dividend date is Thursday, December 13th. Bed Bath & Beyond’s dividend payout ratio (DPR) is presently 20.51%.
Bed Bath & Beyond Company 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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