Verition Fund Management LLC Invests $1.50 Million in Bed Bath & Beyond Inc. (NASDAQ:BBBY) Stock

Share on StockTwits

Verition Fund Management LLC acquired a new stake in shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 75,029 shares of the retailer’s stock, valued at approximately $1,495,000. Verition Fund Management LLC owned approximately 0.05% of Bed Bath & Beyond as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. Isthmus Partners LLC grew its holdings in shares of Bed Bath & Beyond by 0.9% during the 2nd quarter. Isthmus Partners LLC now owns 313,450 shares of the retailer’s stock valued at $6,245,000 after purchasing an additional 2,756 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Bed Bath & Beyond by 36.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 12,290 shares of the retailer’s stock valued at $258,000 after purchasing an additional 3,260 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Bed Bath & Beyond by 124.8% during the 2nd quarter. Signaturefd LLC now owns 5,930 shares of the retailer’s stock valued at $118,000 after purchasing an additional 3,292 shares during the last quarter. Alps Advisors Inc. grew its holdings in shares of Bed Bath & Beyond by 13.7% during the 2nd quarter. Alps Advisors Inc. now owns 27,957 shares of the retailer’s stock valued at $557,000 after purchasing an additional 3,369 shares during the last quarter. Finally, Systematic Financial Management LP grew its holdings in shares of Bed Bath & Beyond by 7.0% during the 1st quarter. Systematic Financial Management LP now owns 56,045 shares of the retailer’s stock valued at $1,176,000 after purchasing an additional 3,645 shares during the last quarter. Hedge funds and other institutional investors own 93.17% of the company’s stock.

Several research firms recently commented on BBBY. Zacks Investment Research lowered shares of Bed Bath & Beyond from a “hold” rating to a “strong sell” rating in a report on Monday, October 1st. Argus lowered shares of Bed Bath & Beyond from a “buy” rating to a “hold” rating in a report on Monday, October 1st. Morgan Stanley reduced their target price on shares of Bed Bath & Beyond from $16.00 to $13.00 and set an “underweight” rating on the stock in a report on Friday, September 28th. ValuEngine lowered shares of Bed Bath & Beyond from a “hold” rating to a “sell” rating in a report on Thursday, September 27th. Finally, Wedbush set a $15.00 price target on shares of Bed Bath & Beyond and gave the stock a “hold” rating in a report on Thursday, September 27th. Ten analysts have rated the stock with a sell rating and twelve have given a hold rating to the company’s stock. Bed Bath & Beyond presently has an average rating of “Hold” and a consensus price target of $17.07.

Bed Bath & Beyond stock traded down $0.42 during trading hours on Friday, reaching $13.53. The stock had a trading volume of 5,697,918 shares, compared to its average volume of 4,434,397. The firm has a market cap of $2.10 billion, a PE ratio of 4.34, a price-to-earnings-growth ratio of 7.43 and a beta of 0.96. The company has a quick ratio of 0.60, a current ratio of 1.75 and a debt-to-equity ratio of 0.51. Bed Bath & Beyond Inc. has a 52 week low of $13.41 and a 52 week high of $24.74.

Bed Bath & Beyond (NASDAQ:BBBY) last announced its earnings results on Wednesday, September 26th. The retailer reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.13). The company had revenue of $2.94 billion for the quarter, compared to the consensus estimate of $2.96 billion. Bed Bath & Beyond had a net margin of 2.81% and a return on equity of 12.52%. The company’s revenue for the quarter was up .0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.77 EPS. As a group, sell-side analysts expect that Bed Bath & Beyond Inc. will post 2.02 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Friday, December 14th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.73%. The ex-dividend date of this dividend is Thursday, December 13th. Bed Bath & Beyond’s payout ratio is 20.51%.

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.

Featured Story: Fundamental Analysis and Choosing Stocks

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

Receive News & Ratings for Bed Bath & Beyond Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bed Bath & Beyond and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply