Barnes & Noble Education (NYSE:BNED) CFO Jason Snagusky Sells 2,210 Shares of Stock

Barnes & Noble Education, Inc (NYSE:BNED) CFO Jason Snagusky sold 2,210 shares of the company’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $12.50, for a total transaction of $27,625.00. Following the sale, the chief financial officer directly owned 78,999 shares in the company, valued at $987,487.50. This represents a 2.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Barnes & Noble Education Stock Performance

NYSE:BNED opened at $11.33 on Wednesday. The stock has a market capitalization of $388.52 million, a P/E ratio of -35.40 and a beta of 1.29. The company has a current ratio of 1.42, a quick ratio of 0.86 and a debt-to-equity ratio of 0.48. Barnes & Noble Education, Inc has a 1 year low of $5.90 and a 1 year high of $14.75. The firm has a 50 day moving average of $10.69 and a 200-day moving average of $9.59.

Barnes & Noble Education Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 30th. Stockholders of record on Thursday, July 16th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Thursday, July 16th.

Hedge Funds Weigh In On Barnes & Noble Education

Several hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada raised its holdings in Barnes & Noble Education by 261.1% during the 4th quarter. Royal Bank of Canada now owns 3,972 shares of the specialty retailer’s stock worth $36,000 after purchasing an additional 2,872 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its position in shares of Barnes & Noble Education by 205.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,326 shares of the specialty retailer’s stock worth $40,000 after buying an additional 2,910 shares during the period. Bank of America Corp DE raised its stake in shares of Barnes & Noble Education by 1,412.1% during the fourth quarter. Bank of America Corp DE now owns 6,139 shares of the specialty retailer’s stock worth $62,000 after buying an additional 5,733 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Barnes & Noble Education in the second quarter valued at approximately $96,000. Finally, Copeland Capital Management LLC acquired a new position in Barnes & Noble Education in the first quarter valued at approximately $73,000. Institutional investors own 38.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BNED. Northland Securities set a $18.50 price target on shares of Barnes & Noble Education in a research report on Friday, June 26th. Weiss Ratings restated a “sell (e+)” rating on shares of Barnes & Noble Education in a research report on Friday, April 10th. Needham & Company LLC upgraded shares of Barnes & Noble Education from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Friday, June 26th. Finally, Zacks Research raised shares of Barnes & Noble Education to a “hold” rating in a research note on Thursday, June 11th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $17.25.

About Barnes & Noble Education

Barnes & Noble Education, Inc (NYSE: BNED) is a leading provider of educational products and services to the higher education community. The company operates retail campus bookstores under Barnes & Noble College, offering course materials, general merchandise, and digital content. In addition, Barnes & Noble Education delivers educational technology solutions through its digital learning platform and supplemental courseware.

Originally part of Barnes & Noble, Inc, the company completed its spin-off and initial public offering in February 2015 to focus exclusively on college retail and digital learning.