Cohen Klingenstein LLC held its position in Bed Bath & Beyond Inc. (NASDAQ:BBBY) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,100 shares of the retailer’s stock at the end of the first quarter. Cohen Klingenstein LLC’s holdings in Bed Bath & Beyond were worth $1,227,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in BBBY. Cutler Group LP raised its position in Bed Bath & Beyond by 157.6% in the first quarter. Cutler Group LP now owns 2,934 shares of the retailer’s stock worth $115,000 after buying an additional 8,027 shares during the period. Virtus Investment Advisers Inc. bought a new position in Bed Bath & Beyond during the third quarter worth $171,000. Acrospire Investment Management LLC raised its position in Bed Bath & Beyond by 7.1% in the third quarter. Acrospire Investment Management LLC now owns 4,500 shares of the retailer’s stock worth $194,000 after buying an additional 300 shares during the period. Blenheim Capital Management BV bought a new position in Bed Bath & Beyond during the fourth quarter worth $197,000. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new position in Bed Bath & Beyond during the fourth quarter worth $200,000. 93.69% of the stock is currently owned by institutional investors.
Bed Bath & Beyond Inc. (NASDAQ:BBBY) traded up 0.18% during midday trading on Thursday, hitting $38.53. The company had a trading volume of 1,482,524 shares. Bed Bath & Beyond Inc. has a 52-week low of $37.28 and a 52-week high of $50.57. The firm has a market cap of $5.58 billion, a price-to-earnings ratio of 8.41 and a beta of 0.85. The stock has a 50 day moving average of $39.50 and a 200 day moving average of $41.63.
Bed Bath & Beyond (NASDAQ:BBBY) last announced its earnings results on Wednesday, April 5th. The retailer reported $1.84 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.07. The firm had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.50 billion. Bed Bath & Beyond had a return on equity of 27.65% and a net margin of 5.95%. Bed Bath & Beyond’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.91 EPS. On average, analysts anticipate that Bed Bath & Beyond Inc. will post $4.34 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 18th. Shareholders of record on Friday, June 16th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Wednesday, June 14th. This is a boost from Bed Bath & Beyond’s previous quarterly dividend of $0.13. Bed Bath & Beyond’s dividend payout ratio is 10.71%.
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A number of research firms have weighed in on BBBY. Telsey Advisory Group lowered their price objective on Bed Bath & Beyond from $42.00 to $41.00 and set a “market perform” rating on the stock in a research note on Thursday, April 6th. 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 AG set a $39.00 price objective on Bed Bath & Beyond and gave the stock a “hold” rating in a research note on Tuesday, December 20th. 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. Finally, Wedbush reissued a “neutral” rating and set a $42.00 price objective on shares of Bed Bath & Beyond in a research note on Friday, December 16th. Eight investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $42.50.
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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