Bank of New York Mellon Corp cut its stake in Barnes & Noble Education Inc (NYSE:BNED) by 11.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 412,857 shares of the specialty retailer’s stock after selling 55,416 shares during the period. Bank of New York Mellon Corp owned 0.89% of Barnes & Noble Education worth $2,687,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. PDT Partners LLC acquired a new stake in Barnes & Noble Education in the 2nd quarter worth approximately $752,000. Kennedy Capital Management Inc. acquired a new stake in Barnes & Noble Education in the 2nd quarter worth approximately $1,816,000. TIAA CREF Investment Management LLC boosted its stake in Barnes & Noble Education by 54.0% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 359,687 shares of the specialty retailer’s stock worth $3,823,000 after purchasing an additional 126,075 shares in the last quarter. Vanguard Group Inc. boosted its stake in Barnes & Noble Education by 5.3% in the 2nd quarter. Vanguard Group Inc. now owns 3,391,895 shares of the specialty retailer’s stock worth $36,055,000 after purchasing an additional 171,391 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in Barnes & Noble Education by 35.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 534,090 shares of the specialty retailer’s stock worth $5,678,000 after purchasing an additional 140,561 shares in the last quarter. Institutional investors own 67.22% of the company’s stock.

Shares of Barnes & Noble Education Inc (BNED) traded down $0.04 during midday trading on Monday, reaching $6.85. 186,776 shares of the company’s stock traded hands, compared to its average volume of 389,651. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.41 and a current ratio of 1.21. Barnes & Noble Education Inc has a twelve month low of $4.99 and a twelve month high of $11.30. The firm has a market cap of $323.71 and a PE ratio of 18.51.

Barnes & Noble Education (NYSE:BNED) last announced its quarterly earnings data on Tuesday, December 5th. The specialty retailer reported $1.03 EPS for the quarter, beating the consensus estimate of $0.91 by $0.12. Barnes & Noble Education had a net margin of 0.84% and a return on equity of 2.52%. The business had revenue of $886.90 million during the quarter, compared to analysts’ expectations of $868.17 million. During the same period in the previous year, the business posted $0.64 EPS. The business’s quarterly revenue was up 15.1% compared to the same quarter last year.

In related news, major shareholder Abrams Capital Management, L.P sold 129,665 shares of the business’s stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $8.51, for a total value of $1,103,449.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders sold 2,484,116 shares of company stock valued at $20,175,715. Company insiders own 3.46% of the company’s stock.

Several brokerages have commented on BNED. Zacks Investment Research upgraded shares of Barnes & Noble Education from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 8th. BidaskClub cut shares of Barnes & Noble Education from a “sell” rating to a “strong sell” rating in a research note on Thursday, November 2nd. Finally, ValuEngine upgraded shares of Barnes & Noble Education from a “sell” rating to a “hold” rating in a research note on Monday, October 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $10.92.

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Barnes & Noble Education Profile

Barnes & Noble Education, Inc is a contract operator of bookstores on college and university campuses across the United States and a provider of digital education services. The Company offers a support system, and a retail and digital learning experience for students. Through its subsidiary, Barnes & Noble College Booksellers, LLC, the Company operates approximately 750 campus bookstores and the school-branded e-commerce sites for each store, serving over five million college students and their faculty.

Institutional Ownership by Quarter for Barnes & Noble Education (NYSE:BNED)

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