Elkfork Partners LLC bought a new position in Bed Bath & Beyond Inc. (NASDAQ:BBBY) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 154,056 shares of the retailer’s stock, valued at approximately $6,261,000.
Other institutional investors have also modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Bed Bath & Beyond by 3.3% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 490,891 shares of the retailer’s stock worth $21,216,000 after buying an additional 15,582 shares during the period. Analyst IMS Investment Management Services Ltd. raised its position in shares of Bed Bath & Beyond by 2.6% in the second quarter. Analyst IMS Investment Management Services Ltd. now owns 48,648 shares of the retailer’s stock worth $2,102,000 after buying an additional 1,242 shares during the period. Aspiriant LLC raised its position in shares of Bed Bath & Beyond by 23.6% in the second quarter. Aspiriant LLC now owns 22,557 shares of the retailer’s stock worth $1,555,000 after buying an additional 4,307 shares during the period. ZWJ Investment Counsel Inc. raised its position in shares of Bed Bath & Beyond by 17.9% in the second quarter. ZWJ Investment Counsel Inc. now owns 237,999 shares of the retailer’s stock worth $10,286,000 after buying an additional 36,075 shares during the period. Finally, Airain ltd acquired a new position in shares of Bed Bath & Beyond during the second quarter worth $6,977,000. 93.69% of the stock is owned by institutional investors and hedge funds.
Bed Bath & Beyond Inc. (NASDAQ:BBBY) traded up 2.14% during mid-day trading on Tuesday, reaching $41.02. The company’s stock had a trading volume of 1,647,459 shares. Bed Bath & Beyond Inc. has a 12-month low of $38.60 and a 12-month high of $52.71. The firm’s 50 day moving average price is $40.47 and its 200 day moving average price is $43.13. The stock has a market cap of $6.02 billion, a price-to-earnings ratio of 8.71 and a beta of 0.85.
Bed Bath & Beyond (NASDAQ:BBBY) last posted its quarterly earnings data on Wednesday, December 21st. The retailer reported $0.85 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.98 by $0.13. The company 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 firm’s revenue was up .1% on a year-over-year basis. During the same period in the prior year, the company earned $1.09 earnings per share. On average, equities analysts predict that Bed Bath & Beyond Inc. will post $4.52 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 18th. Shareholders of record on Friday, March 17th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 1.22%. The ex-dividend date is Wednesday, March 15th. Bed Bath & Beyond’s dividend payout ratio is presently 10.71%.
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A number of equities research analysts have issued reports on the company. Wedbush restated a “neutral” rating and set a $42.00 price target on shares of Bed Bath & Beyond in a research note on Friday, December 16th. Cleveland Research downgraded Bed Bath & Beyond from a “neutral” rating to an “underperform” rating in a research note on Tuesday, December 20th. Loop Capital assumed coverage on Bed Bath & Beyond in a research note on Tuesday, December 20th. They set a “sell” rating and a $35.00 price target for the company. 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. Finally, Raymond James Financial, Inc. downgraded Bed Bath & Beyond from a “strong-buy” rating to a “market perform” rating in a research note on Thursday, December 22nd. Nine analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average 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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