Bed Bath & Beyond Inc. (BBBY) Stake Boosted by HL Financial Services LLC

HL Financial Services LLC increased its stake in Bed Bath & Beyond Inc. (NASDAQ:BBBY) by 12.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 91,475 shares of the retailer’s stock after buying an additional 10,382 shares during the period. HL Financial Services LLC owned 0.07% of Bed Bath & Beyond worth $2,781,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Quantbot Technologies LP bought a new stake in shares of Bed Bath & Beyond during the first quarter valued at about $106,000. Cutler Group LP raised its stake in shares of Bed Bath & Beyond by 157.6% in the first quarter. Cutler Group LP now owns 2,934 shares of the retailer’s stock valued at $115,000 after buying an additional 8,027 shares during the last quarter. First Manhattan Co. raised its stake in shares of Bed Bath & Beyond by 20.3% in the first quarter. First Manhattan Co. now owns 2,966 shares of the retailer’s stock valued at $127,000 after buying an additional 500 shares during the last quarter. Westside Investment Management Inc. raised its stake in shares of Bed Bath & Beyond by 15.0% in the first quarter. Westside Investment Management Inc. now owns 3,370 shares of the retailer’s stock valued at $127,000 after buying an additional 440 shares during the last quarter. Finally, Ameritas Investment Partners Inc. bought a new stake in shares of Bed Bath & Beyond during the first quarter valued at about $146,000. Institutional investors own 91.50% of the company’s stock.

Bed Bath & Beyond Inc. (BBBY) traded down 0.76% during mid-day trading on Friday, hitting $27.27. 1,945,254 shares of the stock were exchanged. The company has a 50-day moving average of $29.29 and a 200-day moving average of $35.62. Bed Bath & Beyond Inc. has a 52 week low of $27.12 and a 52 week high of $48.83. The stock has a market capitalization of $3.84 billion, a PE ratio of 6.27 and a beta of 1.13.

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

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 17th. Investors of record on Friday, September 15th will be given 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 2.20%. Bed Bath & Beyond’s dividend payout ratio is 13.86%.

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Several research firms recently commented on BBBY. BidaskClub raised shares of Bed Bath & Beyond from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Jefferies Group LLC reaffirmed a “hold” rating and issued a $34.00 price objective on shares of Bed Bath & Beyond in a report on Thursday, July 27th. ValuEngine raised shares of Bed Bath & Beyond from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Wedbush cut their price objective on shares of Bed Bath & Beyond from $42.00 to $38.00 and set a “neutral” rating for the company in a report on Tuesday, July 4th. Finally, Telsey Advisory Group cut their price objective on shares of Bed Bath & Beyond from $42.00 to $41.00 and set a “market perform” rating for the company in a report on Tuesday, July 4th. Ten analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $35.24.

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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