New Mexico Educational Retirement Board trimmed its stake in shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY) by 17.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,800 shares of the retailer’s stock after selling 6,700 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Bed Bath & Beyond were worth $654,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BBBY. Prudential Financial Inc. lifted its position in shares of Bed Bath & Beyond by 557.6% in the 1st quarter. Prudential Financial Inc. now owns 2,840,003 shares of the retailer’s stock worth $59,611,000 after buying an additional 2,408,117 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Bed Bath & Beyond by 47.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,431,514 shares of the retailer’s stock worth $155,987,000 after buying an additional 2,403,924 shares during the last quarter. Contrarius Investment Management Ltd lifted its position in shares of Bed Bath & Beyond by 5.7% in the 1st quarter. Contrarius Investment Management Ltd now owns 6,337,044 shares of the retailer’s stock worth $133,015,000 after buying an additional 341,596 shares during the last quarter. Towle & Co. lifted its position in shares of Bed Bath & Beyond by 31.2% in the 1st quarter. Towle & Co. now owns 1,336,180 shares of the retailer’s stock worth $28,046,000 after buying an additional 317,610 shares during the last quarter. Finally, A.R.T. Advisors LLC bought a new position in shares of Bed Bath & Beyond in the 1st quarter worth about $6,516,000. Hedge funds and other institutional investors own 90.54% of the company’s stock.

BBBY stock opened at $18.28 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.62 and a current ratio of 1.86. Bed Bath & Beyond Inc. has a fifty-two week low of $16.52 and a fifty-two week high of $29.63. The stock has a market capitalization of $2.54 billion, a P/E ratio of 5.86 and a beta of 0.96.

Bed Bath & Beyond (NASDAQ:BBBY) last released its quarterly earnings data on Wednesday, June 27th. The retailer reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.02. Bed Bath & Beyond had a net margin of 3.18% and a return on equity of 14.73%. The business had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter last year, the company earned $0.58 EPS. The company’s revenue for the quarter was up .4% compared to the same quarter last year. research analysts forecast that Bed Bath & Beyond Inc. will post 2.33 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 16th. Investors of record on Friday, September 14th will be issued a $0.16 dividend. The ex-dividend date is Thursday, September 13th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.50%. Bed Bath & Beyond’s dividend payout ratio (DPR) is presently 20.51%.

In related news, insider Eugene A. Castagna sold 25,000 shares of the stock in a transaction dated Thursday, July 5th. The shares were sold at an average price of $20.81, for a total value of $520,250.00. Following the sale, the insider now owns 124,255 shares of the company’s stock, valued at approximately $2,585,746.55. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 5.50% of the stock is owned by company insiders.

A number of research firms have recently issued reports on BBBY. Zacks Investment Research upgraded shares of Bed Bath & Beyond from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 12th. BidaskClub upgraded shares of Bed Bath & Beyond from a “hold” rating to a “buy” rating in a research report on Tuesday, June 12th. Wells Fargo & Co restated a “sell” rating and issued a $16.00 price target on shares of Bed Bath & Beyond in a research report on Wednesday, June 27th. Credit Suisse Group set a $20.00 price target on shares of Bed Bath & Beyond and gave the stock a “hold” rating in a research report on Friday, June 29th. Finally, Standpoint Research downgraded shares of Bed Bath & Beyond from a “buy” rating to a “hold” rating in a research report on Tuesday. Nine analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $20.00.

Bed Bath & Beyond Company 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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