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

NorthCoast Asset Management LLC reduced its stake in Bed Bath & Beyond Inc. (NASDAQ:BBBY) by 8.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,350 shares of the retailer’s stock after selling 4,831 shares during the period. NorthCoast Asset Management LLC’s holdings in Bed Bath & Beyond were worth $1,683,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the company. Nicholas Hoffman & Company LLC. grew its stake in shares of Bed Bath & Beyond by 0.4% in the 1st quarter. Nicholas Hoffman & Company LLC. now owns 7,930 shares of the retailer’s stock valued at $313,000 after purchasing an additional 28 shares during the period. Amalgamated Bank grew its stake in shares of Bed Bath & Beyond by 0.3% in the 1st quarter. Amalgamated Bank now owns 10,575 shares of the retailer’s stock valued at $417,000 after purchasing an additional 32 shares during the period. Nordea Investment Management AB grew its stake in shares of Bed Bath & Beyond by 1.7% in the 1st quarter. Nordea Investment Management AB now owns 7,704 shares of the retailer’s stock valued at $304,000 after purchasing an additional 129 shares during the period. Blair William & Co. IL grew its stake in shares of Bed Bath & Beyond by 1.5% in the 1st quarter. Blair William & Co. IL now owns 14,012 shares of the retailer’s stock valued at $566,000 after purchasing an additional 213 shares during the period. Finally, ARGI Investment Services LLC grew its stake in shares of Bed Bath & Beyond by 1.1% in the 1st quarter. ARGI Investment Services LLC now owns 27,289 shares of the retailer’s stock valued at $1,076,000 after purchasing an additional 284 shares during the period. Institutional investors own 93.35% of the company’s stock.

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Bed Bath & Beyond Inc. (BBBY) traded up 2.37% on Friday, hitting $28.30. The stock had a trading volume of 3,257,388 shares. The firm has a market capitalization of $3.98 billion, a price-to-earnings ratio of 6.51 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. The company’s 50 day moving average is $28.60 and its 200-day moving average is $34.37.

Bed Bath & Beyond (NASDAQ:BBBY) last issued 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. The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.79 billion. Bed Bath & Beyond had a return on equity of 24.38% and a net margin of 5.22%. Bed Bath & Beyond’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter last year, the firm posted $0.80 EPS. On average, analysts forecast that Bed Bath & Beyond Inc. will post $4.02 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 17th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.15 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.12%. Bed Bath & Beyond’s dividend payout ratio (DPR) is presently 13.86%.

BBBY has been the topic of several analyst reports. Wolfe Research lowered Bed Bath & Beyond from a “peer perform” rating to an “underperform” rating and set a $31.00 price objective on the stock. in a research note on Monday, June 19th. Zacks Investment Research lowered Bed Bath & Beyond from a “hold” rating to a “sell” rating in a research note on Monday, June 12th. Bank of America Corporation lowered their price objective on Bed Bath & Beyond from $35.00 to $30.00 and set an “underperform” rating on the stock in a research note on Friday, June 23rd. Argus reiterated a “buy” rating and issued a $40.00 price objective (down from $48.00) on shares of Bed Bath & Beyond in a research note on Wednesday, June 28th. Finally, Wedbush lowered their price objective on Bed Bath & Beyond from $42.00 to $38.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 4th. Nine analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $35.00.

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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