33,680 Shares in Bed Bath & Beyond Inc. (BBBY) Purchased by Municipal Employees Retirement System of Michigan

Municipal Employees Retirement System of Michigan acquired a new position in shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 33,680 shares of the retailer’s stock, valued at approximately $381,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. increased its position in Bed Bath & Beyond by 29.0% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 3,276 shares of the retailer’s stock valued at $37,000 after acquiring an additional 737 shares in the last quarter. Parallel Advisors LLC lifted its position in Bed Bath & Beyond by 1,508.4% during the 4th quarter. Parallel Advisors LLC now owns 4,793 shares of the retailer’s stock worth $54,000 after acquiring an additional 4,495 shares during the period. Acadian Asset Management LLC lifted its position in Bed Bath & Beyond by 413.9% during the 4th quarter. Acadian Asset Management LLC now owns 6,490 shares of the retailer’s stock worth $73,000 after acquiring an additional 5,227 shares during the period. Quantamental Technologies LLC acquired a new stake in Bed Bath & Beyond during the 4th quarter worth about $103,000. Finally, NuWave Investment Management LLC lifted its position in Bed Bath & Beyond by 11,588.4% during the 4th quarter. NuWave Investment Management LLC now owns 10,052 shares of the retailer’s stock worth $114,000 after acquiring an additional 9,966 shares during the period. 97.48% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts recently weighed in on BBBY shares. Raymond James raised Bed Bath & Beyond from an “outperform” rating to a “strong-buy” rating and set a $20.00 price target for the company in a report on Tuesday, March 26th. Zacks Investment Research upgraded shares of Bed Bath & Beyond from a “sell” rating to a “hold” rating in a research report on Thursday, March 28th. Loop Capital boosted their price objective on shares of Bed Bath & Beyond to $16.00 and gave the company an “average” rating in a research note on Friday, March 29th. Morgan Stanley upgraded shares of Bed Bath & Beyond from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $13.00 to $20.00 in a research note on Friday, April 5th. Finally, UBS Group boosted their price objective on shares of Bed Bath & Beyond from $13.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Four analysts have rated the stock with a sell rating, fourteen have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $17.61.

Shares of BBBY stock traded up $0.09 during trading on Wednesday, reaching $17.38. The company’s stock had a trading volume of 629,252 shares, compared to its average volume of 11,736,031. The company has a quick ratio of 0.63, a current ratio of 1.86 and a debt-to-equity ratio of 0.58. The firm has a market cap of $2.39 billion, a PE ratio of 8.48, a P/E/G ratio of 8.54 and a beta of 1.16. Bed Bath & Beyond Inc. has a one year low of $10.46 and a one year high of $21.44.

Bed Bath & Beyond (NASDAQ:BBBY) last announced its quarterly earnings data on Wednesday, April 10th. The retailer reported $1.20 EPS for the quarter, topping the consensus estimate of $1.11 by $0.09. Bed Bath & Beyond had a negative net margin of 1.14% and a positive return on equity of 9.77%. The company had revenue of $3.31 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter last year, the firm posted $1.48 EPS. On average, equities analysts predict that Bed Bath & Beyond Inc. will post 1.98 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 16th. Shareholders of record on Friday, June 14th will be given a dividend of $0.17 per share. The ex-dividend date is Thursday, June 13th. This represents a $0.68 dividend on an annualized basis and a yield of 3.91%. This is a boost from Bed Bath & Beyond’s previous quarterly dividend of $0.16. Bed Bath & Beyond’s payout ratio is currently 31.22%.

COPYRIGHT VIOLATION NOTICE: “33,680 Shares in Bed Bath & Beyond Inc. (BBBY) Purchased by Municipal Employees Retirement System of Michigan” was originally published by XNewsPress and is owned by of XNewsPress. If you are accessing this report on another publication, it was illegally stolen and republished in violation of United States and international trademark and copyright legislation. The correct version of this report can be viewed at https://xnewspress.com/news/2019/04/17/municipal-employees-retirement-system-of-michigan-invests-381000-in-bed-bath-beyond-inc-bbby.html.

Bed Bath & Beyond Company 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.

Further Reading: How much can an individual set aside as a catch-up contribution?

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

Receive News & Ratings for Bed Bath & Beyond Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bed Bath & Beyond and related companies with MarketBeat.com's FREE daily email newsletter.