Systematic Financial Management LP Sells 16,290 Shares of Bed Bath & Beyond Inc. (BBBY)

Systematic Financial Management LP cut its stake in shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY) by 20.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,025 shares of the retailer’s stock after selling 16,290 shares during the period. Systematic Financial Management LP’s holdings in Bed Bath & Beyond were worth $1,071,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of BBBY. TIAA CREF Investment Management LLC increased its stake in shares of Bed Bath & Beyond by 12.0% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 5,158,431 shares of the retailer’s stock valued at $77,376,000 after purchasing an additional 554,042 shares in the last quarter. Vanguard Group Inc. boosted its holdings in 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 buying an additional 138,648 shares during the last quarter. Federated Investors Inc. PA boosted its holdings in Bed Bath & Beyond by 55.8% in the 3rd quarter. Federated Investors Inc. PA now owns 178,414 shares of the retailer’s stock worth $2,676,000 after buying an additional 63,865 shares during the last quarter. Virtu Financial LLC acquired a new stake in Bed Bath & Beyond in the 4th quarter worth about $243,000. Finally, Meeder Asset Management Inc. boosted its holdings in Bed Bath & Beyond by 90.0% in the 4th quarter. Meeder Asset Management Inc. now owns 25,781 shares of the retailer’s stock worth $292,000 after buying an additional 12,214 shares during the last quarter. Institutional investors and hedge funds own 97.43% of the company’s stock.

Several brokerages have recently weighed in on BBBY. Bank of America set a $25.00 target price on Bed Bath & Beyond and gave the stock a “buy” rating in a report on Wednesday, April 10th. ValuEngine upgraded Bed Bath & Beyond from a “sell” rating to a “hold” rating in a report on Wednesday, April 10th. Deutsche Bank boosted their target price on Bed Bath & Beyond from $15.00 to $19.00 and gave the stock a “hold” rating in a report on Thursday, April 11th. Telsey Advisory Group lifted their price target on shares of Bed Bath & Beyond from $18.00 to $20.00 and gave the company a “market perform” rating in a research report on Thursday, April 11th. Finally, UBS Group lifted their price target on shares of Bed Bath & Beyond from $13.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Bed Bath & Beyond currently has a consensus rating of “Hold” and a consensus price target of $17.61.

Bed Bath & Beyond stock traded down $0.38 during mid-day trading on Monday, reaching $14.63. The company had a trading volume of 73,897 shares, compared to its average volume of 3,879,811. Bed Bath & Beyond Inc. has a 1 year low of $10.46 and a 1 year high of $21.44. The company has a current ratio of 1.88, a quick ratio of 0.62 and a debt-to-equity ratio of 0.58. The stock has a market cap of $1.97 billion, a PE ratio of 7.14, a price-to-earnings-growth ratio of 7.59 and a beta of 1.14.

Bed Bath & Beyond (NASDAQ:BBBY) last released its quarterly earnings results on Wednesday, April 10th. The retailer reported $1.20 EPS for the quarter, beating the consensus estimate of $1.11 by $0.09. The business had revenue of $3.31 billion for the quarter, compared to analyst estimates 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 prior year, the business earned $1.48 earnings per share. On average, sell-side analysts forecast that Bed Bath & Beyond Inc. will post 1.98 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 16th. Stockholders of record on Friday, June 14th will be given a $0.17 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This is a positive change from Bed Bath & Beyond’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a dividend yield of 4.65%. Bed Bath & Beyond’s dividend payout ratio is currently 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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