Bank of Montreal Can lowered its position in shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY) by 83.5% in the second quarter, HoldingsChannel.com reports. The fund owned 131,771 shares of the retailer’s stock after selling 668,292 shares during the quarter. Bank of Montreal Can’s holdings in Bed Bath & Beyond were worth $2,626,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of BBBY. Point72 Asia Hong Kong Ltd acquired a new stake in Bed Bath & Beyond during the 1st quarter worth about $109,000. Trilogy Capital Inc. acquired a new stake in Bed Bath & Beyond during the 1st quarter worth about $127,000. Asset Management One Co. Ltd. lifted its position in Bed Bath & Beyond by 143.9% during the 1st quarter. Asset Management One Co. Ltd. now owns 8,440 shares of the retailer’s stock worth $177,000 after acquiring an additional 4,980 shares during the period. Psagot Investment House Ltd. acquired a new stake in Bed Bath & Beyond during the 1st quarter worth about $194,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Bed Bath & Beyond during the 1st quarter worth about $248,000. 90.55% of the stock is owned by institutional investors.

Shares of Bed Bath & Beyond stock opened at $18.14 on Friday. The company has a quick ratio of 0.62, a current ratio of 1.86 and a debt-to-equity ratio of 0.51. Bed Bath & Beyond Inc. has a twelve month low of $16.52 and a twelve month high of $29.63. The stock has a market capitalization of $2.60 billion, a P/E ratio of 5.81 and a beta of 0.96.

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

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 16th. Investors of record on Friday, September 14th will be paid a $0.16 dividend. The ex-dividend date is Thursday, September 13th. This represents a $0.64 annualized dividend and a dividend yield of 3.53%. Bed Bath & Beyond’s dividend payout ratio is presently 20.51%.

In related news, insider Eugene A. Castagna sold 25,000 shares of Bed Bath & Beyond stock in a transaction dated Thursday, July 5th. The stock was sold at an average price of $20.81, for a total value of $520,250.00. Following the completion of the transaction, the insider now owns 124,255 shares in the company, valued at approximately $2,585,746.55. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 5.50% of the stock is owned by insiders.

A number of analysts have commented on BBBY shares. Wells Fargo & Co started coverage on Bed Bath & Beyond in a research report on Monday, April 23rd. They set an “underperform” rating and a $16.00 price target for the company. BidaskClub cut Bed Bath & Beyond from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 12th. ValuEngine upgraded Bed Bath & Beyond from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 13th. Zacks Investment Research lowered Bed Bath & Beyond from a “hold” rating to a “strong sell” rating in a research note on Monday, April 16th. Finally, Credit Suisse Group set a $20.00 price objective on Bed Bath & Beyond and gave the company a “hold” rating in a research note on Friday, June 29th. Nine analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $20.00.

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 various juvenile products.

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Institutional Ownership by Quarter for Bed Bath & Beyond (NASDAQ:BBBY)

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