Legal & General Group Plc lowered its stake in shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY) by 14.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 271,521 shares of the retailer’s stock after selling 45,031 shares during the quarter. Legal & General Group Plc owned 0.19% of Bed Bath & Beyond worth $5,410,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in Bed Bath & Beyond by 28.0% during the 2nd quarter. BlackRock Inc. now owns 15,909,818 shares of the retailer’s stock valued at $317,003,000 after acquiring an additional 3,478,265 shares during the period. GAM Holding AG lifted its holdings in shares of Bed Bath & Beyond by 31.0% in the 2nd quarter. GAM Holding AG now owns 137,799 shares of the retailer’s stock worth $2,746,000 after buying an additional 32,599 shares during the period. Cumberland Partners Ltd purchased a new stake in shares of Bed Bath & Beyond in the 2nd quarter worth $418,000. Cadence Capital Management LLC lifted its holdings in shares of Bed Bath & Beyond by 20.9% in the 2nd quarter. Cadence Capital Management LLC now owns 25,079 shares of the retailer’s stock worth $500,000 after buying an additional 4,339 shares during the period. Finally, WBI Investments Inc. purchased a new stake in shares of Bed Bath & Beyond in the 2nd quarter worth $790,000. 93.17% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:BBBY traded down $0.42 during mid-day trading on Friday, hitting $13.53. 5,697,918 shares of the company’s stock traded hands, compared to its average volume of 4,434,397. Bed Bath & Beyond Inc. has a twelve month low of $13.41 and a twelve month high of $24.74. The firm has a market capitalization of $2.10 billion, a P/E ratio of 4.34, a P/E/G ratio of 7.43 and a beta of 0.96. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.75 and a quick ratio of 0.60.

Bed Bath & Beyond (NASDAQ:BBBY) last announced its earnings results on Wednesday, September 26th. The retailer reported $0.36 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.13). The business had revenue of $2.94 billion for the quarter, compared to analyst estimates of $2.96 billion. Bed Bath & Beyond had a net margin of 2.81% and a return on equity of 12.52%. The company’s quarterly revenue was up .0% on a year-over-year basis. During the same period in the prior year, the company earned $0.77 earnings per share. On average, analysts expect that Bed Bath & Beyond Inc. will post 2.02 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Friday, December 14th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.73%. The ex-dividend date of this dividend is Thursday, December 13th. Bed Bath & Beyond’s dividend payout ratio is presently 20.51%.

Several equities research analysts have weighed in on BBBY shares. Zacks Investment Research upgraded Bed Bath & Beyond from a “sell” rating to a “hold” rating in a report on Wednesday, September 19th. Wells Fargo & Co reiterated a “sell” rating and issued a $16.00 target price on shares of Bed Bath & Beyond in a report on Wednesday, June 27th. Bank of America lowered their target price on Bed Bath & Beyond from $16.00 to $13.00 and set a “sell” rating for the company in a report on Thursday, September 27th. KeyCorp lowered their target price on Bed Bath & Beyond from $16.00 to $15.00 and set an “underweight” rating for the company in a report on Thursday, September 27th. Finally, Raymond James upgraded Bed Bath & Beyond from an “underperform” rating to a “market perform” rating in a report on Monday, September 17th. Ten analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $17.07.

About Bed Bath & Beyond

Bed Bath & Beyond Inc, together with its subsidiaries, operates a chain of retail stores. It sells a range of domestics merchandise, including bed linens and related items, bath items, and kitchen textiles; and home furnishings, such as kitchen and tabletop items, fine tabletop, basic housewares, general home furnishings, consumables, and various juvenile products.

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

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