Fmr LLC Acquires 582,329 Shares of Bed Bath & Beyond Inc. (BBBY)

Fmr LLC grew its holdings in shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY) by 4.2% during the third quarter, HoldingsChannel reports. The firm owned 14,451,051 shares of the retailer’s stock after purchasing an additional 582,329 shares during the period. Fmr LLC owned 0.10% of Bed Bath & Beyond worth $216,766,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in Bed Bath & Beyond by 28.0% in the 2nd quarter. BlackRock Inc. now owns 15,909,818 shares of the retailer’s stock worth $317,003,000 after acquiring an additional 3,478,265 shares during the period. Dimensional Fund Advisors LP raised its holdings in Bed Bath & Beyond by 30.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,663,353 shares of the retailer’s stock worth $192,540,000 after acquiring an additional 2,231,839 shares during the period. Contrarius Investment Management Ltd raised its holdings in Bed Bath & Beyond by 4.1% in the 2nd quarter. Contrarius Investment Management Ltd now owns 6,596,392 shares of the retailer’s stock worth $131,433,000 after acquiring an additional 259,348 shares during the period. FIL Ltd raised its holdings in Bed Bath & Beyond by 6.7% in the 3rd quarter. FIL Ltd now owns 3,200,000 shares of the retailer’s stock worth $48,000,000 after acquiring an additional 200,000 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Bed Bath & Beyond by 1.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,673,715 shares of the retailer’s stock worth $40,107,000 after acquiring an additional 32,023 shares during the period. Institutional investors and hedge funds own 97.51% of the company’s stock.

NASDAQ:BBBY opened at $12.28 on Thursday. Bed Bath & Beyond Inc. has a 52-week low of $11.99 and a 52-week high of $24.74. The company has a current ratio of 1.75, a quick ratio of 0.60 and a debt-to-equity ratio of 0.51. The stock has a market cap of $1.78 billion, a PE ratio of 3.94, a P/E/G ratio of 6.57 and a beta of 0.92.

Bed Bath & Beyond (NASDAQ:BBBY) last posted its quarterly earnings data on Wednesday, September 26th. The retailer reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.13). Bed Bath & Beyond had a return on equity of 12.52% and a net margin of 2.81%. The company had revenue of $2.94 billion for the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter in the previous year, the firm posted $0.77 EPS. The business’s revenue for the quarter was up .0% compared to the same quarter last year. On average, research analysts expect that Bed Bath & Beyond Inc. will post 2.01 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Friday, December 14th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.64 annualized dividend and a dividend yield of 5.21%. Bed Bath & Beyond’s payout ratio is 20.51%.

BBBY has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Bed Bath & Beyond from a “sell” rating to a “hold” rating in a report on Wednesday, September 19th. Deutsche Bank set a $14.00 target price on shares of Bed Bath & Beyond and gave the stock a “hold” rating in a report on Thursday, September 27th. Bank of America dropped their target price on shares of Bed Bath & Beyond from $16.00 to $13.00 and set a “sell” rating on the stock in a report on Thursday, September 27th. KeyCorp dropped their target price on shares of Bed Bath & Beyond from $16.00 to $15.00 and set an “underweight” rating on the stock in a report on Thursday, September 27th. Finally, Raymond James upgraded shares of Bed Bath & Beyond from an “underperform” rating to a “market perform” rating in a report on Monday, September 17th. Nine analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $15.64.

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About Bed Bath & Beyond

Bed Bath & Beyond Inc, together with its subsidiaries, operates a chain of retail stores. It sells a range of domestics merchandise, including bed linens and related items, bath items, and kitchen textiles; and home furnishings, such as kitchen and tabletop items, fine tabletop, basic housewares, general home furnishings, consumables, and various juvenile products.

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Want to see what other hedge funds are holding BBBY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bed Bath & Beyond Inc. (NASDAQ:BBBY).

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

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