Bed Bath & Beyond Inc. (NASDAQ:BBBY) Position Cut by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its holdings in shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY) by 2.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 613,367 shares of the retailer’s stock after selling 18,590 shares during the period. Principal Financial Group Inc. owned approximately 0.44% of Bed Bath & Beyond worth $6,944,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Benjamin F. Edwards & Company Inc. grew its stake 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 valued at $37,000 after purchasing an additional 737 shares during the period. Caption Management LLC grew its stake in shares of Bed Bath & Beyond by 3.6% in the 4th quarter. Caption Management LLC now owns 29,000 shares of the retailer’s stock valued at $329,000 after purchasing an additional 1,000 shares during the period. Greenwich Wealth Management LLC grew its stake in shares of Bed Bath & Beyond by 6.2% in the 4th quarter. Greenwich Wealth Management LLC now owns 18,800 shares of the retailer’s stock valued at $213,000 after purchasing an additional 1,100 shares during the period. Texas Permanent School Fund grew its stake in shares of Bed Bath & Beyond by 2.5% in the 4th quarter. Texas Permanent School Fund now owns 90,339 shares of the retailer’s stock valued at $1,023,000 after purchasing an additional 2,168 shares during the period. Finally, Great West Life Assurance Co. Can grew its stake in shares of Bed Bath & Beyond by 2.6% in the 4th quarter. Great West Life Assurance Co. Can now owns 98,762 shares of the retailer’s stock valued at $1,040,000 after purchasing an additional 2,474 shares during the period. Hedge funds and other institutional investors own 97.43% of the company’s stock.

BBBY has been the topic of several analyst reports. Wells Fargo & Co restated a “sell” rating and set a $11.00 price target on shares of Bed Bath & Beyond in a research report on Monday, January 7th. Zacks Investment Research lowered Bed Bath & Beyond from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 9th. Wedbush decreased their price target on Bed Bath & Beyond from $15.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, January 10th. Wolfe Research restated an “underperform” rating and set a $12.00 price target (up from $9.00) on shares of Bed Bath & Beyond in a research report on Friday, January 11th. Finally, Bank of America set a $11.00 price objective on Bed Bath & Beyond and gave the stock a “sell” rating in a report on Thursday, January 10th. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Bed Bath & Beyond currently has a consensus rating of “Hold” and an average target price of $17.61.

BBBY stock opened at $16.45 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.63 and a current ratio of 1.86. The firm has a market capitalization of $2.17 billion, a PE ratio of 8.02, a P/E/G ratio of 8.45 and a beta of 1.14. Bed Bath & Beyond Inc. has a twelve month low of $10.46 and a twelve month high of $21.44.

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

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

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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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