Engineers Gate Manager LP Has $3.69 Million Position in Bed Bath & Beyond Inc. (BBBY)
Engineers Gate Manager LP increased its holdings in Bed Bath & Beyond Inc. (NASDAQ:BBBY) by 196.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 121,264 shares of the retailer’s stock after purchasing an additional 80,411 shares during the quarter. Engineers Gate Manager LP owned 0.09% of Bed Bath & Beyond worth $3,686,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Tredje AP fonden raised its holdings in Bed Bath & Beyond by 17.5% in the 2nd quarter. Tredje AP fonden now owns 36,304 shares of the retailer’s stock worth $1,109,000 after purchasing an additional 5,394 shares during the period. LSV Asset Management raised its holdings in Bed Bath & Beyond by 80.0% in the 2nd quarter. LSV Asset Management now owns 1,315,995 shares of the retailer’s stock worth $40,006,000 after purchasing an additional 584,700 shares during the period. Quinn Opportunity Partners LLC raised its holdings in Bed Bath & Beyond by 15.3% in the 2nd quarter. Quinn Opportunity Partners LLC now owns 75,500 shares of the retailer’s stock worth $2,295,000 after purchasing an additional 10,000 shares during the period. Heritage Trust Co raised its holdings in Bed Bath & Beyond by 9.1% in the 2nd quarter. Heritage Trust Co now owns 37,302 shares of the retailer’s stock worth $1,134,000 after purchasing an additional 3,104 shares during the period. Finally, Meiji Yasuda Life Insurance Co raised its holdings in Bed Bath & Beyond by 15.8% in the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 9,540 shares of the retailer’s stock worth $290,000 after purchasing an additional 1,300 shares during the period. 93.35% of the stock is owned by institutional investors.
Bed Bath & Beyond Inc. (NASDAQ BBBY) opened at 27.72 on Friday. The stock has a market capitalization of $3.90 billion, a price-to-earnings ratio of 6.38 and a beta of 1.11. Bed Bath & Beyond Inc. has a 12 month low of $26.96 and a 12 month high of $48.83. The company has a 50-day moving average price of $28.63 and a 200 day moving average price of $34.41.
Bed Bath & Beyond (NASDAQ:BBBY) last issued its quarterly earnings data on Thursday, June 22nd. The retailer reported $0.58 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by $0.08. Bed Bath & Beyond had a return on equity of 24.38% and a net margin of 5.22%. The company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.79 billion. During the same quarter in the prior year, the firm earned $0.80 earnings per share. The company’s revenue for the quarter was up .1% on a year-over-year basis. Equities analysts predict that Bed Bath & Beyond Inc. will post $4.02 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 17th. Shareholders of record on Friday, September 15th will be issued a $0.15 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.60 annualized dividend and a yield of 2.17%. Bed Bath & Beyond’s dividend payout ratio (DPR) is presently 13.86%.
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BBBY has been the subject of a number of analyst reports. Wolfe Research cut Bed Bath & Beyond from a “peer perform” rating to an “underperform” rating and set a $31.00 price target for the company. in a report on Monday, June 19th. Zacks Investment Research cut Bed Bath & Beyond from a “hold” rating to a “sell” rating in a report on Monday, June 12th. Bank of America Corporation reduced their target price on Bed Bath & Beyond from $35.00 to $30.00 and set an “underperform” rating for the company in a report on Friday, June 23rd. Argus reissued a “buy” rating and set a $40.00 target price (down previously from $48.00) on shares of Bed Bath & Beyond in a report on Wednesday, June 28th. Finally, Wedbush reduced their target price on Bed Bath & Beyond from $42.00 to $38.00 and set a “neutral” rating for the company in a report on Tuesday, July 4th. Nine equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $35.00.
Bed Bath & Beyond 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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