Zurcher Kantonalbank Zurich Cantonalbank Sells 1,402 Shares of Bed Bath & Beyond Inc. (BBBY)

Zurcher Kantonalbank Zurich Cantonalbank cut its holdings in shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY) by 5.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,955 shares of the retailer’s stock after selling 1,402 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Bed Bath & Beyond were worth $728,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in BBBY. BlackRock Inc. lifted its stake in Bed Bath & Beyond by 2,768.5% during the first quarter. BlackRock Inc. now owns 12,120,048 shares of the retailer’s stock valued at $478,258,000 after purchasing an additional 11,697,533 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its stake in Bed Bath & Beyond by 12.0% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 8,136,389 shares of the retailer’s stock valued at $321,062,000 after purchasing an additional 872,036 shares during the last quarter. First Trust Advisors LP lifted its stake in Bed Bath & Beyond by 247.2% during the second quarter. First Trust Advisors LP now owns 889,716 shares of the retailer’s stock valued at $27,047,000 after purchasing an additional 633,465 shares during the last quarter. FMR LLC lifted its stake in Bed Bath & Beyond by 4.3% during the first quarter. FMR LLC now owns 13,418,679 shares of the retailer’s stock valued at $529,501,000 after purchasing an additional 551,019 shares during the last quarter. Finally, APG Asset Management N.V. lifted its stake in Bed Bath & Beyond by 21.6% during the second quarter. APG Asset Management N.V. now owns 2,822,660 shares of the retailer’s stock valued at $85,809,000 after purchasing an additional 502,300 shares during the last quarter. 93.35% of the stock is owned by institutional investors and hedge funds.

Several research firms recently commented on BBBY. Zacks Investment Research lowered shares of Bed Bath & Beyond from a “hold” rating to a “sell” rating in a research note on Monday, June 12th. ValuEngine lowered shares of Bed Bath & Beyond from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Goldman Sachs Group, Inc. (The) reissued a “sell” rating and set a $38.00 target price on shares of Bed Bath & Beyond in a research note on Monday, June 19th. Wolfe Research lowered shares of Bed Bath & Beyond from a “peer perform” rating to an “underperform” rating and set a $31.00 target price for the company. in a research note on Monday, June 19th. Finally, Robert W. Baird reissued a “neutral” rating and set a $38.00 target price (down from $42.00) on shares of Bed Bath & Beyond in a research note on Monday, June 19th. Nine equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $35.00.

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Bed Bath & Beyond Inc. (NASDAQ BBBY) opened at 29.01 on Wednesday. The firm has a 50-day moving average of $28.55 and a 200 day moving average of $34.18. Bed Bath & Beyond Inc. has a 1-year low of $26.96 and a 1-year high of $48.83. The firm has a market cap of $4.08 billion, a price-to-earnings ratio of 6.68 and a beta of 1.11.

Bed Bath & Beyond (NASDAQ:BBBY) last announced its quarterly earnings results on Thursday, June 22nd. The retailer reported $0.58 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.66 by ($0.08). Bed Bath & Beyond had a net margin of 5.22% and a return on equity of 24.38%. The company had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.79 billion. During the same period in the previous year, the firm posted $0.80 EPS. The business’s quarterly revenue was up .1% compared to the same quarter last year. Analysts expect that Bed Bath & Beyond Inc. will post $4.02 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 17th. Shareholders of record on Friday, September 15th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date is Thursday, September 14th. Bed Bath & Beyond’s payout ratio is currently 13.86%.

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

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