Tokio Marine Asset Management Co. Ltd. Maintains Position in Bed Bath & Beyond Inc. (BBBY)
Tokio Marine Asset Management Co. Ltd. continued to hold its stake in shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,812 shares of the retailer’s stock at the end of the second quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Bed Bath & Beyond were worth $294,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of BBBY. Acrospire Investment Management LLC purchased a new stake in shares of Bed Bath & Beyond during the first quarter valued at about $124,000. 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 worth $112,000 after buying an additional 30 shares during the period. Cullinan Associates Inc. raised its stake in Bed Bath & Beyond by 2.1% in the first quarter. Cullinan Associates Inc. now owns 4,800 shares of the retailer’s stock worth $238,000 after buying an additional 100 shares during the period. NN Investment Partners Holdings N.V. bought a new stake in Bed Bath & Beyond during the first quarter worth $402,000. Finally, Magnetar Financial LLC raised its stake in Bed Bath & Beyond by 0.5% in the first quarter. Magnetar Financial LLC now owns 8,107 shares of the retailer’s stock worth $402,000 after buying an additional 38 shares during the period. 96.65% of the stock is owned by institutional investors and hedge funds.
Bed Bath & Beyond Inc. (NASDAQ:BBBY) traded down 1.13% on Friday, hitting $41.19. The stock had a trading volume of 1,890,950 shares. Bed Bath & Beyond Inc. has a 12 month low of $41.15 and a 12 month high of $61.49. The company’s 50 day moving average is $43.85 and its 200-day moving average is $44.89. The stock has a market cap of $6.12 billion, a P/E ratio of 8.35 and a beta of 0.83.
Bed Bath & Beyond (NASDAQ:BBBY) last issued its earnings results 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 29.79% and a net margin of 6.38%. The company earned $2.99 billion during the quarter. During the same quarter last year, the firm earned $1.21 EPS. The firm’s revenue was down .2% on a year-over-year basis. Analysts forecast that Bed Bath & Beyond Inc. will post $4.73 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 17th. Stockholders 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 dividend yield of 1.21%. Bed Bath & Beyond’s payout ratio is 10.18%.
A number of analysts have recently weighed in on the company. Vetr raised Bed Bath & Beyond from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 25th. Zacks Investment Research raised Bed Bath & Beyond from a “sell” rating to a “hold” rating in a research note on Wednesday, August 17th. Wedbush reissued a “neutral” rating and set a $42.00 price objective on shares of Bed Bath & Beyond in a research note on Tuesday, August 2nd. Credit Suisse Group AG assumed coverage on Bed Bath & Beyond in a research note on Monday, July 18th. They set a “neutral” rating and a $41.00 price objective for the company. Finally, Jefferies Group set a $45.00 price objective on Bed Bath & Beyond and gave the company a “hold” rating in a research note on Tuesday, October 4th. Eight investment analysts have rated the stock with a sell rating, seventeen have given a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $48.65.
In other news, COO Eugene A. Castagna sold 17,866 shares of the company’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 sale, the chief operating officer now owns 140,630 shares in the company, valued at $6,449,291.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.70% of the stock is owned by insiders.
Bed Bath & Beyond Company Profile
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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