Barnes & Noble Inc. (NYSE:BKS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.

According to Zacks, “Barnes & Noble, Inc. is engaged in the retail sale of trade books (generally hardcover and paperback consumer titles, excluding educational textbooks and specialized religious titles), mass market paperbacks (such as mystery, romance, science fiction and other popular fiction), children’s books, off-price bargain books and magazines. These collectively account for substantially all of the company’s bookstore sales. Bestsellers represent only a small portion of the Barnes & Noble store sales. “

Several other brokerages have also issued reports on BKS. Sidoti assumed coverage on Barnes & Noble in a research report on Thursday, August 18th. They set a “neutral” rating and a $13.00 target price for the company. Gabelli lowered Barnes & Noble from a “buy” rating to a “hold” rating in a research report on Wednesday, August 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. Barnes & Noble currently has an average rating of “Hold” and an average price target of C$17.10.

Barnes & Noble (NYSE:BKS) traded down 1.86% during mid-day trading on Tuesday, hitting $10.56. The company had a trading volume of 531,355 shares. The firm’s market capitalization is $772.50 million. The company has a 50 day moving average of $11.27 and a 200 day moving average of $11.80. Barnes & Noble has a 1-year low of $7.25 and a 1-year high of $13.89.

Barnes & Noble (NYSE:BKS) last released its quarterly earnings results on Thursday, September 8th. The company reported ($0.07) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.02. The company earned $913.90 million during the quarter, compared to analyst estimates of $959.65 million. Barnes & Noble had a positive return on equity of 6.07% and a negative net margin of 0.10%. The firm’s revenue was down 6.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.68) earnings per share. Analysts predict that Barnes & Noble will post $0.52 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, October 7th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.68%. Barnes & Noble’s payout ratio is -599.94%.

In related news, insider Frederic Argir sold 17,377 shares of the business’s stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of C$11.59, for a total value of C$201,399.43. Following the completion of the sale, the insider now owns 73,154 shares in the company, valued at C$847,854.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 19.00% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in BKS. Mason Street Advisors LLC purchased a new stake in shares of Barnes & Noble during the second quarter worth about $134,000. Royal Bank of Canada raised its stake in shares of Barnes & Noble by 29.5% in the second quarter. Royal Bank of Canada now owns 42,575 shares of the company’s stock worth $483,000 after buying an additional 9,694 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Barnes & Noble by 17.0% in the second quarter. Public Employees Retirement System of Ohio now owns 13,163 shares of the company’s stock worth $149,000 after buying an additional 1,911 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Barnes & Noble by 16.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 463,699 shares of the company’s stock worth $5,263,000 after buying an additional 65,152 shares during the last quarter. Finally, Sterneck Capital Management LLC raised its stake in shares of Barnes & Noble by 0.6% in the second quarter. Sterneck Capital Management LLC now owns 254,064 shares of the company’s stock worth $2,884,000 after buying an additional 1,513 shares during the last quarter. Hedge funds and other institutional investors own 75.59% of the company’s stock.

Barnes & Noble Company Profile

Barnes & Noble, Inc is a bookseller. The Company is a content and commerce company, which provides access to trade books and other content across its multi-channel distribution platform. It operates in two segments: Barnes & Noble Retail (B&N Retail) and NOOK. The Company is engaged in the sale of trade books (generally hardcover and paperback consumer titles), mass market paperbacks (such as mystery, romance, science fiction and other fiction), children’s books, eBooks and other digital content, textbooks and course-related materials, NOOK and related accessories, bargain books, magazines, gifts, cafe products and services, educational toys and games, music and movies direct to customers through its bookstores or on www.barnesandnoble.com.

5 Day Chart for NYSE:BKS

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