First Merchants Corp decreased its stake in shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY) by 17.3% during the second quarter, Holdings Channel reports. The institutional investor owned 8,075 shares of the retailer’s stock after selling 1,690 shares during the period. First Merchants Corp’s holdings in Bed Bath & Beyond were worth $349,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Creative Planning raised its stake in Bed Bath & Beyond by 1.2% in the second quarter. Creative Planning now owns 2,585 shares of the retailer’s stock valued at $112,000 after buying an additional 30 shares in the last quarter. Acrospire Investment Management LLC bought a new stake in shares of Bed Bath & Beyond during the first quarter valued at $124,000. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Bed Bath & Beyond by 1.2% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,372 shares of the retailer’s stock valued at $167,000 after buying an additional 41 shares in the last quarter. Cullinan Associates Inc. raised its stake in shares of Bed Bath & Beyond by 2.1% in the first quarter. Cullinan Associates Inc. now owns 4,800 shares of the retailer’s stock valued at $238,000 after buying an additional 100 shares in the last quarter. Finally, IFP Advisors Inc raised its stake in shares of Bed Bath & Beyond by 26.9% in the first quarter. IFP Advisors Inc now owns 4,876 shares of the retailer’s stock valued at $242,000 after buying an additional 1,035 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY) traded up 0.14% on Wednesday, hitting $43.11. The stock had a trading volume of 3,504,367 shares. The stock has a market capitalization of $6.51 billion, a PE ratio of 8.60 and a beta of 0.72. The firm’s 50 day moving average is $44.91 and its 200-day moving average is $45.68. Bed Bath & Beyond Inc. has a one year low of $41.15 and a one year high of $61.90.

Bed Bath & Beyond (NASDAQ:BBBY) last announced its quarterly earnings data on Wednesday, September 21st. The retailer reported $1.11 EPS for the quarter, missing analysts’ consensus estimates of $1.16 by $0.05. Bed Bath & Beyond had a return on equity of 31.15% and a net margin of 6.66%. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $901.50 million. During the same period last year, the firm earned $1.21 earnings per share. The firm’s revenue for the quarter was down .2% on a year-over-year basis. Equities research analysts expect that Bed Bath & Beyond Inc. will post $4.83 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 17th. Shareholders of record on Friday, December 16th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.16%. Bed Bath & Beyond’s payout ratio is 9.98%.

BBBY has been the topic of several analyst reports. BTIG Research initiated coverage on Bed Bath & Beyond in a research report on Wednesday, June 1st. They issued a “neutral” rating on the stock. Zacks Investment Research lowered Bed Bath & Beyond from a “hold” rating to a “sell” rating in a research report on Tuesday, June 7th. Barclays PLC reaffirmed an “equal weight” rating and issued a $50.00 target price on shares of Bed Bath & Beyond in a research report on Wednesday, June 15th. Wedbush reaffirmed a “neutral” rating and issued a $46.00 target price on shares of Bed Bath & Beyond in a research report on Wednesday, June 15th. Finally, Nomura reaffirmed a “neutral” rating and issued a $50.00 target price on shares of Bed Bath & Beyond in a research report on Wednesday, June 15th. Eight investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $50.20.

In other Bed Bath & Beyond news, COO Eugene A. Castagna sold 17,866 shares of the business’s stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $45.86, for a total value of $819,334.76. Following the completion of the transaction, the chief operating officer now directly owns 140,630 shares of the company’s stock, valued at $6,449,291.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 4.70% of the stock is owned by company insiders.

About Bed Bath & Beyond

Bed Bath & Beyond Inc is a retailer, which operates under the names Bed Bath & Beyond (BBB), Christmas Tree Shops, Christmas Tree Shops andThat! or andThat! (collectively, CTS), Harmon or Harmon Face Values (collectively, Harmon), buybuy BABY (Baby) and World Market, Cost Plus World Market or Cost Plus (collectively, Cost Plus World Market).

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