Clifford Swan Investment Counsel LLC Trims Position in Bed Bath & Beyond (BBBY)

Clifford Swan Investment Counsel LLC lessened its stake in Bed Bath & Beyond (NASDAQ:BBBY) by 7.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 83,866 shares of the retailer’s stock after selling 6,460 shares during the period. Clifford Swan Investment Counsel LLC owned about 0.06% of Bed Bath & Beyond worth $1,760,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Contrarius Investment Management Ltd raised its position in Bed Bath & Beyond by 5.7% in the first quarter. Contrarius Investment Management Ltd now owns 6,337,044 shares of the retailer’s stock worth $133,015,000 after purchasing an additional 341,596 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in Bed Bath & Beyond by 364.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,710,466 shares of the retailer’s stock worth $103,583,000 after purchasing an additional 3,696,289 shares in the last quarter. Prudential Financial Inc. raised its position in Bed Bath & Beyond by 557.6% in the first quarter. Prudential Financial Inc. now owns 2,840,003 shares of the retailer’s stock worth $59,611,000 after purchasing an additional 2,408,117 shares in the last quarter. Schroder Investment Management Group raised its position in Bed Bath & Beyond by 48.3% in the fourth quarter. Schroder Investment Management Group now owns 1,992,815 shares of the retailer’s stock worth $43,822,000 after purchasing an additional 649,180 shares in the last quarter. Finally, Towle & Co. raised its position in Bed Bath & Beyond by 31.2% in the first quarter. Towle & Co. now owns 1,336,180 shares of the retailer’s stock worth $28,046,000 after purchasing an additional 317,610 shares in the last quarter. Institutional investors and hedge funds own 93.33% of the company’s stock.

Bed Bath & Beyond opened at $17.85 on Friday, according to MarketBeat Ratings. The company has a market cap of $2.47 billion, a PE ratio of 5.42, a PEG ratio of -3.84 and a beta of 1.01. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.83 and a quick ratio of 0.57. Bed Bath & Beyond has a 1-year low of $17.58 and a 1-year high of $17.87.

Bed Bath & Beyond (NASDAQ:BBBY) last posted its quarterly earnings data on Wednesday, April 11th. The retailer reported $1.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.41 by $0.07. The company had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.68 billion. Bed Bath & Beyond had a net margin of 3.44% and a return on equity of 16.45%. The company’s revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the business posted $1.84 earnings per share. equities analysts predict that Bed Bath & Beyond will post 2.29 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 17th. Investors of record on Friday, June 15th will be issued a $0.16 dividend. The ex-dividend date is Thursday, June 14th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.59%. This is a positive change from Bed Bath & Beyond’s previous quarterly dividend of $0.15. Bed Bath & Beyond’s dividend payout ratio (DPR) is currently 19.23%.

Several research analysts recently issued reports on BBBY shares. JPMorgan Chase lowered shares of Bed Bath & Beyond from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $23.03 to $18.00 in a research report on Friday, January 26th. Raymond James lowered shares of Bed Bath & Beyond from a “market perform” rating to an “underperform” rating in a research report on Thursday, April 12th. Telsey Advisory Group reissued a “market perform” rating on shares of Bed Bath & Beyond in a research report on Thursday, January 25th. ValuEngine raised shares of Bed Bath & Beyond from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Finally, Wedbush dropped their price target on shares of Bed Bath & Beyond from $23.00 to $22.26 and set a “neutral” rating for the company in a research report on Tuesday, March 20th. Eleven analysts have rated the stock with a sell rating, twelve have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $22.61.

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 juvenile products.

Want to see what other hedge funds are holding BBBY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bed Bath & Beyond (NASDAQ:BBBY).

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