NuWave Investment Management LLC Purchases 14,749 Shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY)

NuWave Investment Management LLC increased its holdings in shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY) by 146.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,801 shares of the retailer’s stock after acquiring an additional 14,749 shares during the period. NuWave Investment Management LLC’s holdings in Bed Bath & Beyond were worth $422,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Hsbc Holdings PLC boosted its position in shares of Bed Bath & Beyond by 30.9% in the 4th quarter. Hsbc Holdings PLC now owns 249,106 shares of the retailer’s stock worth $2,819,000 after purchasing an additional 58,799 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Bed Bath & Beyond by 48.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 19,879 shares of the retailer’s stock worth $224,000 after purchasing an additional 6,452 shares during the last quarter. GAM Holding AG boosted its position in shares of Bed Bath & Beyond by 33.7% in the 4th quarter. GAM Holding AG now owns 263,166 shares of the retailer’s stock worth $2,979,000 after purchasing an additional 66,359 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in shares of Bed Bath & Beyond by 29.0% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 3,276 shares of the retailer’s stock worth $37,000 after purchasing an additional 737 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Bed Bath & Beyond by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 12,346,235 shares of the retailer’s stock worth $185,193,000 after purchasing an additional 138,648 shares during the last quarter. Institutional investors and hedge funds own 97.43% of the company’s stock.

BBBY opened at $16.45 on Friday. The company has a market capitalization of $2.31 billion, a P/E ratio of 8.02, a price-to-earnings-growth ratio of 8.45 and a beta of 1.14. Bed Bath & Beyond Inc. has a 12 month low of $10.46 and a 12 month high of $21.44. The company has a quick ratio of 0.63, a current ratio of 1.86 and a debt-to-equity ratio of 0.58.

Bed Bath & Beyond (NASDAQ:BBBY) last issued its earnings results on Wednesday, April 10th. The retailer reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.09. The business had revenue of $3.31 billion during the quarter, compared to analysts’ expectations of $3.33 billion. Bed Bath & Beyond had a negative net margin of 1.14% and a positive return on equity of 9.77%. During the same period in the previous year, the company earned $1.48 earnings per share. On average, equities analysts expect that Bed Bath & Beyond Inc. will post 1.98 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 16th. Investors of record on Friday, June 14th will be given a dividend of $0.17 per share. This is a positive change from Bed Bath & Beyond’s previous quarterly dividend of $0.16. The ex-dividend date is Thursday, June 13th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.13%. Bed Bath & Beyond’s dividend payout ratio is currently 31.22%.

BBBY has been the topic of several research analyst reports. Loop Capital raised their price objective on Bed Bath & Beyond to $16.00 and gave the stock an “average” rating in a research note on Friday, March 29th. Zacks Investment Research raised Bed Bath & Beyond from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a research note on Monday, January 14th. BidaskClub downgraded Bed Bath & Beyond from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 6th. Bank of America raised Bed Bath & Beyond from an “underperform” rating to a “buy” rating and lifted their price target for the company from $11.00 to $21.00 in a research note on Tuesday, March 26th. Finally, Morgan Stanley raised Bed Bath & Beyond from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $13.00 to $20.00 in a research note on Friday, April 5th. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Bed Bath & Beyond currently has an average rating of “Hold” and a consensus price target of $17.61.

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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.

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

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