Gabelli Funds LLC Cuts Holdings in Bed Bath & Beyond Inc. (NASDAQ:BBBY)
Gabelli Funds LLC cut its stake in Bed Bath & Beyond Inc. (NASDAQ:BBBY) by 28.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,000 shares of the retailer’s stock after selling 21,000 shares during the quarter. Gabelli Funds LLC’s holdings in Bed Bath & Beyond were worth $795,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. grew its stake in shares of Bed Bath & Beyond by 28.0% in the second 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 in the last quarter. Dimensional Fund Advisors LP grew its stake in Bed Bath & Beyond by 30.0% during the second quarter. Dimensional Fund Advisors LP now owns 9,663,353 shares of the retailer’s stock worth $192,540,000 after buying an additional 2,231,839 shares in the last quarter. Northern Trust Corp grew its stake in Bed Bath & Beyond by 67.0% during the second quarter. Northern Trust Corp now owns 2,333,483 shares of the retailer’s stock worth $46,495,000 after buying an additional 936,407 shares in the last quarter. Wells Fargo & Company MN grew its stake in Bed Bath & Beyond by 329.1% during the second quarter. Wells Fargo & Company MN now owns 699,235 shares of the retailer’s stock worth $13,931,000 after buying an additional 536,288 shares in the last quarter. Finally, Towle & Co. grew its stake in Bed Bath & Beyond by 35.4% during the second quarter. Towle & Co. now owns 1,809,040 shares of the retailer’s stock worth $36,045,000 after buying an additional 472,860 shares in the last quarter. 97.51% of the stock is currently owned by institutional investors.
Shares of BBBY stock traded up $0.07 during trading hours on Friday, hitting $12.45. 4,400,691 shares of the company were exchanged, compared to its average volume of 4,192,705. The company has a market cap of $1.71 billion, a price-to-earnings ratio of 3.99, a price-to-earnings-growth ratio of 6.16 and a beta of 0.92. Bed Bath & Beyond Inc. has a fifty-two week low of $11.97 and a fifty-two week high of $24.74. The company has a quick ratio of 0.60, a current ratio of 1.75 and a debt-to-equity ratio of 0.51.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Friday, December 14th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 5.14%. The ex-dividend date is Thursday, December 13th. Bed Bath & Beyond’s dividend payout ratio is 20.51%.
BBBY has been the topic of a number of research analyst reports. Zacks Investment Research downgraded shares of Bed Bath & Beyond from a “hold” rating to a “strong sell” rating in a research note on Monday, October 1st. Raymond James upgraded shares of Bed Bath & Beyond from an “underperform” rating to a “market perform” rating in a research note on Monday, September 17th. Morgan Stanley dropped their price objective on shares of Bed Bath & Beyond from $16.00 to $13.00 and set an “underweight” rating for the company in a report on Friday, September 28th. Argus lowered shares of Bed Bath & Beyond from a “buy” rating to a “hold” rating in a report on Monday, October 1st. Finally, KeyCorp dropped their price objective on shares of Bed Bath & Beyond from $16.00 to $15.00 and set an “underweight” rating for the company in a report on Thursday, September 27th. Nine analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $15.64.
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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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