Prudential Financial Inc. reduced its stake in shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY) by 38.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 409,578 shares of the retailer’s stock after selling 258,525 shares during the period. Prudential Financial Inc. owned about 0.29% of Bed Bath & Beyond worth $12,452,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the company. Nicholas Hoffman & Company LLC. grew its position in shares of Bed Bath & Beyond by 0.4% during the 1st quarter. Nicholas Hoffman & Company LLC. now owns 7,930 shares of the retailer’s stock valued at $313,000 after acquiring an additional 28 shares during the period. Amalgamated Bank grew its position in shares of Bed Bath & Beyond by 0.3% during the 1st quarter. Amalgamated Bank now owns 10,575 shares of the retailer’s stock valued at $417,000 after acquiring an additional 32 shares during the period. Nordea Investment Management AB grew its position in shares of Bed Bath & Beyond by 1.7% during the 1st quarter. Nordea Investment Management AB now owns 7,704 shares of the retailer’s stock valued at $304,000 after acquiring an additional 129 shares during the period. Blair William & Co. IL grew its position in shares of Bed Bath & Beyond by 1.5% during the 1st quarter. Blair William & Co. IL now owns 14,012 shares of the retailer’s stock valued at $566,000 after acquiring an additional 213 shares during the period. Finally, ARGI Investment Services LLC grew its position in shares of Bed Bath & Beyond by 1.1% during the 1st quarter. ARGI Investment Services LLC now owns 27,289 shares of the retailer’s stock valued at $1,076,000 after acquiring an additional 284 shares during the period. 93.35% of the stock is owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY NOTICE: “Prudential Financial Inc. Trims Stake in Bed Bath & Beyond Inc. (BBBY)” was first reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this piece on another site, it was copied illegally and reposted in violation of U.S. & international trademark and copyright laws. The legal version of this piece can be viewed at https://www.thecerbatgem.com/2017/09/11/prudential-financial-inc-trims-stake-in-bed-bath-beyond-inc-bbby.html.

Shares of Bed Bath & Beyond Inc. (BBBY) opened at 28.30 on Monday. Bed Bath & Beyond Inc. has a 52-week low of $26.96 and a 52-week high of $48.83. The stock has a market cap of $3.98 billion, a PE ratio of 6.51 and a beta of 1.11. The stock’s 50 day moving average is $28.60 and its 200 day moving average is $34.37.

Bed Bath & Beyond (NASDAQ:BBBY) last released its earnings results on Thursday, June 22nd. The retailer reported $0.58 EPS for the quarter, missing the 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 during the quarter, compared to analysts’ expectations of $2.79 billion. During the same period last year, the firm posted $0.80 EPS. Bed Bath & Beyond’s quarterly revenue was up .1% compared to the same quarter last year. Equities research analysts forecast that Bed Bath & Beyond Inc. will post $4.02 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 17th. Stockholders of record on Friday, September 15th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Thursday, September 14th. Bed Bath & Beyond’s dividend payout ratio (DPR) is presently 13.86%.

BBBY has been the topic of a number of recent research reports. ValuEngine cut shares of Bed Bath & Beyond from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research cut shares of Bed Bath & Beyond from a “hold” rating to a “sell” rating in a research note on Monday, June 12th. Wolfe Research cut shares of Bed Bath & Beyond from a “peer perform” rating to an “underperform” rating and set a $31.00 price target on the stock. in a research note on Monday, June 19th. Goldman Sachs Group, Inc. (The) restated a “sell” rating and set a $38.00 price target on shares of Bed Bath & Beyond in a research note on Monday, June 19th. Finally, Robert W. Baird restated a “neutral” rating and set a $38.00 price target (down from $42.00) on shares of Bed Bath & Beyond in a research note on Monday, June 19th. Nine investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $35.00.

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).

Institutional Ownership by Quarter for Bed Bath & Beyond (NASDAQ:BBBY)

Receive News & Stock Ratings for Bed Bath & Beyond Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bed Bath & Beyond Inc. and related stocks with our FREE daily email newsletter.