BlackRock Inc. Buys 574,944 Shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY)

BlackRock Inc. increased its holdings in shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY) by 3.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,001,610 shares of the retailer’s stock after acquiring an additional 574,944 shares during the quarter. BlackRock Inc. owned about 12.87% of Bed Bath & Beyond worth $288,858,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. Investors Research Corp acquired a new position in shares of Bed Bath & Beyond in the 1st quarter worth approximately $27,000. Motco bought a new stake in shares of Bed Bath & Beyond in the 1st quarter valued at $30,000. Penserra Capital Management LLC bought a new stake in shares of Bed Bath & Beyond in the 1st quarter valued at $30,000. Benjamin F. Edwards & Company Inc. increased 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 acquiring an additional 737 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in shares of Bed Bath & Beyond by 1,508.4% in the 4th quarter. Parallel Advisors LLC now owns 4,793 shares of the retailer’s stock valued at $54,000 after acquiring an additional 4,495 shares in the last quarter. 97.43% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:BBBY traded up $0.33 during midday trading on Friday, reaching $11.47. The company had a trading volume of 6,027,104 shares, compared to its average volume of 4,087,263. The stock has a 50 day simple moving average of $12.57. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.62 and a current ratio of 1.88. The stock has a market capitalization of $1.47 billion, a PE ratio of 5.60, a P/E/G ratio of 5.81 and a beta of 1.19. Bed Bath & Beyond Inc. has a 52-week low of $10.46 and a 52-week 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 Thomson Reuters’ 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 for the quarter, compared to the consensus estimate of $3.33 billion. During the same period in the prior year, the firm earned $1.48 earnings per share. On average, equities research analysts forecast that Bed Bath & Beyond Inc. will post 1.97 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 16th. Investors of record on Friday, June 14th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 5.93%. This is a boost from Bed Bath & Beyond’s previous quarterly dividend of $0.16. The ex-dividend date is Thursday, June 13th. Bed Bath & Beyond’s dividend payout ratio is 33.17%.

Several analysts have recently weighed in on BBBY shares. Wedbush lifted their price objective on shares of Bed Bath & Beyond from $14.00 to $19.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. BidaskClub lowered shares of Bed Bath & Beyond from a “hold” rating to a “sell” rating in a research note on Thursday, March 21st. Citigroup upgraded shares of Bed Bath & Beyond from a “sell” rating to a “neutral” rating and boosted their price target for the company from $10.00 to $18.00 in a research note on Monday, April 1st. Deutsche Bank boosted their price target on shares of Bed Bath & Beyond from $15.00 to $19.00 and gave the company a “hold” rating in a research note on Thursday, April 11th. Finally, ValuEngine lowered shares of Bed Bath & Beyond from a “hold” rating to a “sell” rating in a research note on Tuesday, April 16th. Five equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $17.28.

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: Earnings Per Share (EPS)

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.