Spark Investment Management LLC Trims Stake in Bed Bath & Beyond Inc. (BBBY)

Spark Investment Management LLC trimmed its position in shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY) by 93.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,100 shares of the retailer’s stock after selling 546,600 shares during the quarter. Spark Investment Management LLC’s holdings in Bed Bath & Beyond were worth $798,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in BBBY. Prudential Financial Inc. lifted its holdings in shares of Bed Bath & Beyond by 557.6% during the 1st quarter. Prudential Financial Inc. now owns 2,840,003 shares of the retailer’s stock valued at $59,611,000 after buying an additional 2,408,117 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Bed Bath & Beyond by 47.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,431,514 shares of the retailer’s stock valued at $155,987,000 after buying an additional 2,403,924 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Bed Bath & Beyond by 329.1% during the 2nd quarter. Wells Fargo & Company MN now owns 699,235 shares of the retailer’s stock valued at $13,931,000 after buying an additional 536,288 shares during the last quarter. Towle & Co. lifted its holdings in shares of Bed Bath & Beyond by 35.4% during the 2nd quarter. Towle & Co. now owns 1,809,040 shares of the retailer’s stock valued at $36,045,000 after buying an additional 472,860 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in shares of Bed Bath & Beyond by 46.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,254,983 shares of the retailer’s stock valued at $25,006,000 after buying an additional 400,112 shares during the last quarter. Institutional investors and hedge funds own 93.39% of the company’s stock.

Shares of BBBY stock opened at $18.96 on Monday. The company has a current ratio of 1.86, a quick ratio of 0.62 and a debt-to-equity ratio of 0.51. Bed Bath & Beyond Inc. has a twelve month low of $16.52 and a twelve month high of $29.63. The company has a market capitalization of $2.66 billion, a P/E ratio of 6.08 and a beta of 0.96.

Bed Bath & Beyond (NASDAQ:BBBY) last issued its quarterly earnings results on Wednesday, June 27th. The retailer reported $0.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.02. The company had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.75 billion. Bed Bath & Beyond had a return on equity of 14.73% and a net margin of 3.18%. The company’s revenue for the quarter was up .4% on a year-over-year basis. During the same period in the previous year, the business posted $0.58 EPS. research analysts forecast that Bed Bath & Beyond Inc. will post 2.33 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 16th. Shareholders of record on Friday, September 14th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend is Thursday, September 13th. Bed Bath & Beyond’s dividend payout ratio is currently 20.51%.

BBBY has been the subject of several research reports. BidaskClub lowered Bed Bath & Beyond from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 12th. Wells Fargo & Co reissued a “sell” rating and issued a $16.00 price objective on shares of Bed Bath & Beyond in a research note on Wednesday, June 27th. Zacks Investment Research raised Bed Bath & Beyond from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 12th. Credit Suisse Group set a $20.00 price objective on Bed Bath & Beyond and gave the company a “hold” rating in a research note on Friday, June 29th. Finally, Standpoint Research downgraded Bed Bath & Beyond from a “buy” rating to a “hold” rating in a research note on Tuesday, August 14th. Nine research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a strong buy rating to the stock. Bed Bath & Beyond presently has a consensus rating of “Hold” and a consensus target price of $20.00.

In other Bed Bath & Beyond news, insider Eugene A. Castagna sold 25,000 shares of Bed Bath & Beyond stock in a transaction that occurred on Thursday, July 5th. The stock was sold at an average price of $20.81, for a total value of $520,250.00. Following the transaction, the insider now directly owns 124,255 shares of the company’s stock, valued at approximately $2,585,746.55. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 5.50% of the company’s stock.

Bed Bath & Beyond Profile

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.

See Also: Market Capitalization

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

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