State of New Jersey Common Pension Fund D Takes $2.32 Million Position in Bed Bath & Beyond Inc. (NASDAQ:BBBY)

State of New Jersey Common Pension Fund D acquired a new stake in Bed Bath & Beyond Inc. (NASDAQ:BBBY) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 200,000 shares of the retailer’s stock, valued at approximately $2,324,000. State of New Jersey Common Pension Fund D owned 0.16% of Bed Bath & Beyond as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Raymond James Financial Services Advisors Inc. bought a new stake in Bed Bath & Beyond during the 4th quarter valued at $156,000. United Services Automobile Association increased its holdings in shares of Bed Bath & Beyond by 37.1% in the fourth quarter. United Services Automobile Association now owns 29,617 shares of the retailer’s stock worth $335,000 after purchasing an additional 8,008 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Bed Bath & Beyond by 13.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 11,259,473 shares of the retailer’s stock worth $127,458,000 after purchasing an additional 1,317,631 shares during the period. Geode Capital Management LLC increased its holdings in shares of Bed Bath & Beyond by 10.8% in the fourth quarter. Geode Capital Management LLC now owns 1,707,564 shares of the retailer’s stock worth $19,328,000 after purchasing an additional 165,899 shares during the period. Finally, Municipal Employees Retirement System of Michigan bought a new position in shares of Bed Bath & Beyond in the fourth quarter worth $381,000. 97.43% of the stock is owned by institutional investors and hedge funds.

NASDAQ:BBBY traded up $0.29 during midday trading on Friday, hitting $9.30. The company had a trading volume of 3,315,210 shares, compared to its average volume of 8,731,078. Bed Bath & Beyond Inc. has a 52-week low of $8.98 and a 52-week high of $19.59. The stock has a fifty day simple moving average of $10.91. The firm has a market cap of $1.20 billion, a P/E ratio of 4.53, a PEG ratio of 4.91 and a beta of 1.19. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.52 and a quick ratio of 0.48.

Bed Bath & Beyond (NASDAQ:BBBY) last announced its earnings results on Wednesday, July 10th. The retailer reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.04. Bed Bath & Beyond had a negative net margin of 4.66% and a positive return on equity of 9.49%. The company had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same period in the previous year, the business earned $0.32 earnings per share. The firm’s quarterly revenue was down 6.6% compared to the same quarter last year. On average, sell-side analysts predict that Bed Bath & Beyond Inc. will post 1.91 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be given a $0.17 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.68 annualized dividend and a yield of 7.32%. Bed Bath & Beyond’s dividend payout ratio (DPR) is presently 33.17%.

BBBY has been the topic of several research analyst reports. Morgan Stanley decreased their price target on shares of Bed Bath & Beyond from $20.00 to $13.00 and set an “equal weight” rating on the stock in a report on Friday, July 12th. Deutsche Bank upped their price target on shares of Bed Bath & Beyond from $15.00 to $19.00 and gave the stock a “hold” rating in a report on Thursday, April 11th. Wedbush upped their price target on shares of Bed Bath & Beyond from $14.00 to $19.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Raymond James decreased their price target on shares of Bed Bath & Beyond from $20.00 to $17.00 and set a “strong-buy” rating on the stock in a report on Friday, July 12th. Finally, Citigroup decreased their price target on shares of Bed Bath & Beyond from $18.00 to $13.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Six research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $15.55.

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.

Read More: Coverage Ratio

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

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