US Bancorp DE Reduces Stake in Bed Bath & Beyond Inc. (NASDAQ:BBBY)

US Bancorp DE decreased its position in Bed Bath & Beyond Inc. (NASDAQ:BBBY) by 12.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 27,225 shares of the retailer’s stock after selling 4,034 shares during the period. US Bancorp DE’s holdings in Bed Bath & Beyond were worth $828,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new position in Bed Bath & Beyond during the first quarter worth about $106,000. First Manhattan Co. increased its position in Bed Bath & Beyond by 20.3% in the first quarter. First Manhattan Co. now owns 2,966 shares of the retailer’s stock worth $127,000 after buying an additional 500 shares in the last quarter. Westside Investment Management Inc. increased its position in Bed Bath & Beyond by 15.0% in the first quarter. Westside Investment Management Inc. now owns 3,370 shares of the retailer’s stock worth $127,000 after buying an additional 440 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new position in Bed Bath & Beyond during the first quarter worth about $146,000. Finally, First Quadrant L P CA purchased a new position in Bed Bath & Beyond during the second quarter worth about $141,000. Hedge funds and other institutional investors own 92.45% of the company’s stock.

Shares of Bed Bath & Beyond Inc. (BBBY) traded up 1.34% during trading on Friday, reaching $28.78. The company had a trading volume of 2,331,029 shares. Bed Bath & Beyond Inc. has a 12 month low of $27.99 and a 12 month high of $48.83. The stock has a market capitalization of $4.05 billion, a PE ratio of 6.62 and a beta of 1.13. The stock’s 50-day moving average price is $29.63 and its 200-day moving average price is $36.06.

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

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 17th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend is Thursday, September 14th. Bed Bath & Beyond’s payout ratio is currently 13.86%.

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A number of research analysts recently issued reports on the company. UBS AG restated a “neutral” rating and set a $33.00 price target (down previously from $37.00) on shares of Bed Bath & Beyond in a research note on Monday, June 26th. Morgan Stanley set a $30.00 price target on Bed Bath & Beyond and gave the stock a “sell” rating in a research note on Saturday, June 24th. Wedbush set a $30.00 price target on Bed Bath & Beyond and gave the stock a “hold” rating in a research note on Saturday, June 24th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Bed Bath & Beyond in a research note on Saturday, June 24th. Finally, Bank of America Corporation set a $27.00 price target on Bed Bath & Beyond and gave the stock a “sell” rating in a research note on Saturday, June 24th. Ten equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $35.24.

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).

Institutional Ownership by Quarter for Bed Bath & Beyond (NASDAQ:BBBY)

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