Renaissance Technologies LLC lessened its stake in Bed Bath & Beyond Inc. (NASDAQ:BBBY) by 14.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,446,560 shares of the retailer’s stock after selling 776,300 shares during the quarter. Renaissance Technologies LLC owned approximately 3.48% of Bed Bath & Beyond worth $51,669,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in BBBY. Penserra Capital Management LLC bought a new stake in Bed Bath & Beyond during the first quarter worth $30,000. Advisory Services Network LLC raised its holdings in shares of Bed Bath & Beyond by 825.7% in the 2nd quarter. Advisory Services Network LLC now owns 9,053 shares of the retailer’s stock valued at $105,000 after purchasing an additional 8,075 shares during the period. Harvey Capital Management Inc. acquired a new stake in Bed Bath & Beyond in the 2nd quarter valued at about $116,000. Clear Harbor Asset Management LLC acquired a new stake in Bed Bath & Beyond in the 2nd quarter valued at about $121,000. Finally, Signaturefd LLC lifted its stake in Bed Bath & Beyond by 13.3% in the 1st quarter. Signaturefd LLC now owns 10,825 shares of the retailer’s stock valued at $184,000 after purchasing an additional 1,268 shares during the last quarter.
Shares of NASDAQ BBBY traded up $0.23 during mid-day trading on Wednesday, hitting $10.94. 309,239 shares of the stock traded hands, compared to its average volume of 6,940,718. The company has a market cap of $1.34 billion, a PE ratio of 5.32, a price-to-earnings-growth ratio of 5.54 and a beta of 1.21. Bed Bath & Beyond Inc. has a twelve month low of $7.31 and a twelve month high of $19.59. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.52 and a quick ratio of 0.48. The firm has a 50 day simple moving average of $9.00 and a two-hundred day simple moving average of $13.06.
Bed Bath & Beyond (NASDAQ:BBBY) last issued its earnings results on Wednesday, July 10th. The retailer reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.04. The business had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.58 billion. Bed Bath & Beyond had a positive return on equity of 9.49% and a negative net margin of 4.66%. The business’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.32 EPS. On average, equities research analysts anticipate that Bed Bath & Beyond Inc. will post 1.89 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 6.22%. The ex-dividend date of this dividend is Thursday, September 12th. Bed Bath & Beyond’s dividend payout ratio (DPR) is currently 33.17%.
A number of brokerages have weighed in on BBBY. TheStreet downgraded Bed Bath & Beyond from a “c-” rating to a “d+” rating in a research report on Monday, July 22nd. Loop Capital reaffirmed an “average” rating and issued a $12.00 price objective on shares of Bed Bath & Beyond in a research report on Tuesday, July 9th. Telsey Advisory Group reiterated a “market perform” rating and set a $14.00 target price (down from $20.00) on shares of Bed Bath & Beyond in a research note on Wednesday, July 3rd. Morgan Stanley reduced their target price on Bed Bath & Beyond from $20.00 to $13.00 and set an “equal weight” rating for the company in a research note on Friday, July 12th. Finally, Bank of America set a $25.00 target price on Bed Bath & Beyond and gave the stock a “buy” rating in a report on Tuesday, July 2nd. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $15.55.
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.
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