O Shaughnessy Asset Management LLC Reduced Holding in Bed Bath & Beyond Inc. (BBBY)

O Shaughnessy Asset Management LLC Reduced Holding in Bed Bath & Beyond Inc. (BBBY)

O Shaughnessy Asset Management LLC lowered its stake in Bed Bath & Beyond Inc. (NASDAQ:BBBY) by 47.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 611,305 shares of the retailer’s stock after selling 553,004 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Bed Bath & Beyond were worth $24,122,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BBBY. FMR LLC raised its stake in shares of Bed Bath & Beyond by 4.8% in the fourth quarter. FMR LLC now owns 12,867,660 shares of the retailer’s stock worth $522,942,000 after buying an additional 591,607 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Bed Bath & Beyond by 0.3% in the first quarter. Bank of New York Mellon Corp now owns 6,963,944 shares of the retailer’s stock worth $274,797,000 after buying an additional 18,580 shares during the period. APG Asset Management N.V. raised its stake in shares of Bed Bath & Beyond by 30.6% in the first quarter. APG Asset Management N.V. now owns 2,320,360 shares of the retailer’s stock worth $91,561,000 after buying an additional 543,406 shares during the period. Norges Bank acquired a new stake in shares of Bed Bath & Beyond during the fourth quarter worth approximately $87,296,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Bed Bath & Beyond by 31.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,687,662 shares of the retailer’s stock worth $68,590,000 after buying an additional 405,572 shares during the period. Hedge funds and other institutional investors own 93.69% of the company’s stock.

Bed Bath & Beyond Inc. (NASDAQ:BBBY) traded down 0.40% during midday trading on Friday, reaching $35.20. The company had a trading volume of 1,957,779 shares. The firm has a 50-day moving average of $37.05 and a 200 day moving average of $40.50. Bed Bath & Beyond Inc. has a 1-year low of $34.17 and a 1-year high of $48.83. The company has a market capitalization of $5.03 billion, a P/E ratio of 7.69 and a beta of 0.85.

Bed Bath & Beyond (NASDAQ:BBBY) last announced its earnings results on Wednesday, April 5th. The retailer reported $1.84 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.77 by $0.07. Bed Bath & Beyond had a return on equity of 27.65% and a net margin of 5.95%. The company had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same period in the prior year, the company posted $1.91 EPS. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. On average, equities research analysts forecast that Bed Bath & Beyond Inc. will post $4.32 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 18th. Investors of record on Friday, June 16th will be given a dividend of $0.15 per share. This is a positive change from Bed Bath & Beyond’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a yield of 1.70%. The ex-dividend date is Wednesday, June 14th. Bed Bath & Beyond’s dividend payout ratio is currently 10.71%.

BBBY has been the subject of a number of recent research reports. Argus decreased their price target on shares of Bed Bath & Beyond from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, February 10th. Zacks Investment Research raised shares of Bed Bath & Beyond from a “sell” rating to a “hold” rating in a report on Wednesday, March 15th. Loop Capital reissued a “sell” rating and issued a $35.00 price target on shares of Bed Bath & Beyond in a report on Thursday, March 30th. Telsey Advisory Group cut their price target on shares of Bed Bath & Beyond from $42.00 to $41.00 and set a “market perform” rating on the stock in a report on Thursday, April 6th. Finally, Wedbush cut their price target on shares of Bed Bath & Beyond from $42.00 to $38.00 and set a “neutral” rating on the stock in a report on Thursday, April 6th. Six research analysts have rated the stock with a sell rating, seventeen have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $42.87.

In related news, CEO Steven H. Temares sold 96,109 shares of the company’s stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $37.37, for a total transaction of $3,591,593.33. Following the transaction, the chief executive officer now directly owns 629,415 shares of the company’s stock, valued at approximately $23,521,238.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Arthur Stark sold 8,933 shares of the company’s stock in a transaction dated Friday, April 21st. The shares were sold at an average price of $39.73, for a total value of $354,908.09. Following the transaction, the insider now directly owns 149,595 shares in the company, valued at $5,943,409.35. The disclosure for this sale can be found here. Insiders have sold a total of 349,706 shares of company stock worth $13,679,409 over the last ninety days. 4.70% of the stock is currently owned by corporate insiders.

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).new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:BBBY”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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