Accident Compensation Corp reduced its position in Bed Bath & Beyond Inc. (NASDAQ:BBBY) by 6.9% during the third quarter, Holdings Channel reports. The institutional investor owned 54,275 shares of the retailer’s stock after selling 4,000 shares during the period. Accident Compensation Corp’s holdings in Bed Bath & Beyond were worth $2,340,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in BBBY. Acropolis Investment Management LLC raised its position in Bed Bath & Beyond by 9.4% in the third quarter. Acropolis Investment Management LLC now owns 25,020 shares of the retailer’s stock worth $1,079,000 after buying an additional 2,160 shares during the last quarter. Ontario Teachers Pension Plan Board raised its position in Bed Bath & Beyond by 13.7% in the third quarter. Ontario Teachers Pension Plan Board now owns 143,400 shares of the retailer’s stock worth $6,182,000 after buying an additional 17,279 shares during the last quarter. BlackRock Advisors LLC raised its position in Bed Bath & Beyond by 59.0% in the third quarter. BlackRock Advisors LLC now owns 1,415,418 shares of the retailer’s stock worth $61,018,000 after buying an additional 525,224 shares during the last quarter. California State Teachers Retirement System raised its position in Bed Bath & Beyond by 0.9% in the third quarter. California State Teachers Retirement System now owns 325,428 shares of the retailer’s stock worth $14,029,000 after buying an additional 2,800 shares during the last quarter. Finally, Todd Asset Management LLC acquired a new position in Bed Bath & Beyond during the second quarter worth approximately $12,180,000. 93.69% of the stock is owned by institutional investors.
Shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY) opened at 40.16 on Tuesday. Bed Bath & Beyond Inc. has a 52-week low of $38.60 and a 52-week high of $52.71. The company has a 50 day moving average of $40.47 and a 200-day moving average of $43.13. The company has a market cap of $5.89 billion, a PE ratio of 8.53 and a beta of 0.85.
Bed Bath & Beyond (NASDAQ:BBBY) last announced its quarterly earnings results on Wednesday, December 21st. The retailer reported $0.85 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.98 by $0.13. The firm had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.01 billion. Bed Bath & Beyond had a net margin of 5.95% and a return on equity of 27.65%. The company’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the previous year, the company earned $1.09 EPS. Analysts forecast that Bed Bath & Beyond Inc. will post $4.52 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 18th. Shareholders of record on Friday, March 17th will be given a dividend of $0.125 per share. The ex-dividend date is Wednesday, March 15th. This represents a $0.50 annualized dividend and a yield of 1.25%. Bed Bath & Beyond’s payout ratio is currently 10.71%.
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BBBY has been the topic of a number of recent analyst reports. Loop Capital reiterated a “sell” rating and issued a $35.00 price objective on shares of Bed Bath & Beyond in a research note on Sunday, January 8th. Cleveland Research lowered Bed Bath & Beyond from a “neutral” rating to an “underperform” rating in a research note on Tuesday, December 20th. Credit Suisse Group set a $39.00 price target on Bed Bath & Beyond and gave the company a “hold” rating in a research note on Tuesday, December 20th. Jefferies Group LLC restated a “hold” rating and set a $45.00 price target on shares of Bed Bath & Beyond in a research note on Friday, December 23rd. Finally, Raymond James Financial, Inc. lowered Bed Bath & Beyond from a “strong-buy” rating to a “market perform” rating in a research note on Thursday, December 22nd. Nine equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Bed Bath & Beyond currently has a consensus rating of “Hold” and a consensus price target of $43.84.
About Bed Bath & Beyond
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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