Comerica Bank lowered its stake in shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY) by 15.3% in the third quarter, Holdings Channel reports. The firm owned 94,466 shares of the retailer’s stock after selling 17,059 shares during the period. Comerica Bank’s holdings in Bed Bath & Beyond were worth $1,278,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the business. Signaturefd LLC lifted its position in shares of Bed Bath & Beyond by 124.8% during the 2nd quarter. Signaturefd LLC now owns 5,930 shares of the retailer’s stock worth $118,000 after buying an additional 3,292 shares in the last quarter. Ardsley Advisory Partners bought a new position in shares of Bed Bath & Beyond during the 2nd quarter worth approximately $199,000. Commonwealth Equity Services LLC bought a new position in shares of Bed Bath & Beyond during the 2nd quarter worth approximately $205,000. DRW Securities LLC bought a new position in shares of Bed Bath & Beyond during the 2nd quarter worth approximately $229,000. Finally, Wedbush Securities Inc. bought a new position in shares of Bed Bath & Beyond during the 2nd quarter worth approximately $233,000. Institutional investors and hedge funds own 97.51% of the company’s stock.
NASDAQ:BBBY opened at $12.38 on Friday. 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 company has a market capitalization of $1.70 billion, a P/E ratio of 3.97, a P/E/G ratio of 6.11 and a beta of 0.92. Bed Bath & Beyond Inc. has a 12 month low of $11.97 and a 12 month high of $24.74.
Bed Bath & Beyond (NASDAQ:BBBY) last issued its earnings results on Wednesday, September 26th. The retailer reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.13). Bed Bath & Beyond had a net margin of 2.81% and a return on equity of 12.52%. The business had revenue of $2.94 billion for the quarter, compared to the consensus estimate of $2.96 billion. During the same period in the previous year, the firm earned $0.77 EPS. The company’s revenue was up .0% compared to the same quarter last year. As a group, sell-side analysts expect that Bed Bath & Beyond Inc. will post 2.01 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Friday, December 14th will be issued a dividend of $0.16 per share. The ex-dividend date is Thursday, December 13th. This represents a $0.64 dividend on an annualized basis and a yield of 5.17%. Bed Bath & Beyond’s payout ratio is 20.51%.
Several research firms have commented on BBBY. Wedbush set a $18.00 target price on shares of Bed Bath & Beyond and gave the stock a “hold” rating in a research report on Thursday, September 13th. Telsey Advisory Group lowered their price target on shares of Bed Bath & Beyond from $20.00 to $16.00 and set a “market perform” rating on the stock in a report on Thursday, September 27th. Deutsche Bank set a $14.00 price target on shares of Bed Bath & Beyond and gave the stock a “hold” rating in a report on Thursday, September 27th. Loop Capital lifted their price target on shares of Bed Bath & Beyond to $15.00 and gave the stock a “hold” rating in a report on Thursday, September 27th. Finally, Citigroup lowered their price target 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. Nine research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company. Bed Bath & Beyond currently has an average rating of “Hold” and a consensus price target of $15.64.
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Bed Bath & Beyond Company Profile
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.
Read More: Average Daily Trade Volume – What You Need to Know
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