NorthCoast Asset Management LLC Has $1.68 Million Stake in Bed Bath & Beyond Inc. (BBBY)

NorthCoast Asset Management LLC reduced its holdings in Bed Bath & Beyond Inc. (NASDAQ:BBBY) by 8.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 55,350 shares of the retailer’s stock after selling 4,831 shares during the quarter. NorthCoast Asset Management LLC’s holdings in Bed Bath & Beyond were worth $1,683,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Bed Bath & Beyond by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 13,993,417 shares of the retailer’s stock worth $552,180,000 after buying an additional 298,107 shares during the last quarter. FMR LLC increased its holdings in shares of Bed Bath & Beyond by 4.3% in the 1st quarter. FMR LLC now owns 13,418,679 shares of the retailer’s stock worth $529,501,000 after acquiring an additional 551,019 shares during the period. BlackRock Inc. increased its holdings in shares of Bed Bath & Beyond by 2,768.5% in the 1st quarter. BlackRock Inc. now owns 12,120,048 shares of the retailer’s stock worth $478,258,000 after acquiring an additional 11,697,533 shares during the period. State Street Corp increased its holdings in shares of Bed Bath & Beyond by 3.2% in the 1st quarter. State Street Corp now owns 8,382,743 shares of the retailer’s stock worth $330,785,000 after acquiring an additional 261,732 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC increased its holdings in shares of Bed Bath & Beyond by 12.0% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 8,136,389 shares of the retailer’s stock worth $321,062,000 after acquiring an additional 872,036 shares during the period. Institutional investors own 93.35% of the company’s stock.

Shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY) traded down 0.66% on Friday, hitting $28.67. 3,550,690 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $28.55 and its 200 day moving average price is $33.93. The company has a market cap of $4.03 billion, a price-to-earnings ratio of 6.60 and a beta of 1.11. Bed Bath & Beyond Inc. has a 1-year low of $26.96 and a 1-year high of $48.83.

Bed Bath & Beyond (NASDAQ:BBBY) last announced its quarterly earnings results on Thursday, June 22nd. The retailer reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.08). Bed Bath & Beyond had a net margin of 5.22% and a return on equity of 24.38%. The company had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.79 billion. During the same period last year, the company earned $0.80 earnings per share. The business’s revenue was up .1% compared to the same quarter last year. On average, equities research analysts expect that Bed Bath & Beyond Inc. will post $4.02 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 17th. Investors of record on Friday, September 15th will be given a $0.15 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.60 annualized dividend and a dividend yield of 2.09%. Bed Bath & Beyond’s dividend payout ratio is presently 13.86%.

A number of analysts recently weighed in on the stock. Zacks Investment Research raised shares of Bed Bath & Beyond from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a report on Thursday. UBS AG reaffirmed a “neutral” rating and issued a $30.00 price objective (down previously from $33.00) on shares of Bed Bath & Beyond in a report on Thursday. ValuEngine cut shares of Bed Bath & Beyond from a “buy” rating to a “hold” rating in a report on Friday, September 1st. BidaskClub cut shares of Bed Bath & Beyond from a “sell” rating to a “strong sell” rating in a report on Thursday, August 24th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $34.00 price objective on shares of Bed Bath & Beyond in a report on Thursday, July 27th. Nine equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and two have assigned a buy rating to the stock. Bed Bath & Beyond has a consensus rating of “Hold” and a consensus price target of $34.94.

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About Bed Bath & Beyond

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)

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