Hotchkis & Wiley Capital Management LLC increased its position in shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY) by 3.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,455,769 shares of the retailer’s stock after purchasing an additional 319,380 shares during the period. Hotchkis & Wiley Capital Management LLC owned approximately 6.01% of Bed Bath & Beyond worth $257,055,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new position in shares of Bed Bath & Beyond during the 1st quarter worth about $106,000. Bronfman E.L. Rothschild L.P. boosted its position in Bed Bath & Beyond by 928.4% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 3,836 shares of the retailer’s stock valued at $117,000 after buying an additional 3,463 shares during the period. Westside Investment Management Inc. boosted its position in Bed Bath & Beyond by 15.0% in the 1st quarter. Westside Investment Management Inc. now owns 3,370 shares of the retailer’s stock valued at $127,000 after buying an additional 440 shares during the period. First Quadrant L P CA purchased a new stake in Bed Bath & Beyond in the 2nd quarter valued at about $141,000. Finally, Ameritas Investment Partners Inc. purchased a new stake in Bed Bath & Beyond in the 1st quarter valued at about $146,000. 93.35% of the stock is owned by hedge funds and other institutional investors.
BBBY has been the subject of several research reports. Argus reissued a “buy” rating and issued a $40.00 price objective (down from $48.00) on shares of Bed Bath & Beyond in a research report on Wednesday, June 28th. ValuEngine upgraded shares of Bed Bath & Beyond from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Zacks Investment Research upgraded shares of Bed Bath & Beyond from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research note on Tuesday, September 5th. Barclays PLC reduced their price objective on shares of Bed Bath & Beyond from $45.00 to $40.00 and set an “equal weight” rating for the company in a research note on Friday, June 23rd. Finally, Jefferies Group LLC reduced their price objective on shares of Bed Bath & Beyond from $41.00 to $34.00 and set a “hold” rating for the company in a research note on Friday, June 23rd. 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 company’s stock. Bed Bath & Beyond has an average rating of “Hold” and a consensus price target of $34.94.
Shares of Bed Bath & Beyond Inc. (BBBY) traded down 0.66% during midday trading on Friday, hitting $28.67. 3,550,690 shares of the stock were exchanged. The firm has a market cap of $4.03 billion, a PE ratio of 6.60 and a beta of 1.11. Bed Bath & Beyond Inc. has a 12-month low of $26.96 and a 12-month high of $48.83. The firm has a 50-day moving average price of $28.55 and a 200 day moving average price of $33.93.
Bed Bath & Beyond (NASDAQ:BBBY) last announced its earnings results on Thursday, June 22nd. The retailer reported $0.58 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.79 billion. During the same period in the previous year, the firm posted $0.80 EPS. The company’s revenue for the quarter was up .1% compared to the same quarter last year. Analysts predict that Bed Bath & Beyond Inc. will post $4.02 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 17th. Investors of record on Friday, September 15th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.09%. The ex-dividend date is Thursday, September 14th. Bed Bath & Beyond’s payout ratio is 13.86%.
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Bed Bath & Beyond Company Profile
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).
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