Steven H. Temares Sells 96,109 Shares of Bed Bath & Beyond Inc. (BBBY) Stock
Bed Bath & Beyond Inc. (NASDAQ:BBBY) CEO Steven H. Temares sold 96,109 shares of the firm’s stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $37.37, for a total value of $3,591,593.33. Following the transaction, the chief executive officer now directly owns 629,415 shares in the company, valued at $23,521,238.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY) traded up 0.89% during mid-day trading on Tuesday, reaching $37.54. 2,044,572 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $38.82 and a 200 day moving average price of $41.13. The firm has a market capitalization of $5.36 billion, a price-to-earnings ratio of 8.20 and a beta of 0.85. Bed Bath & Beyond Inc. has a 12-month low of $37.01 and a 12-month high of $48.83.
Bed Bath & Beyond (NASDAQ:BBBY) last announced its quarterly earnings results on Wednesday, April 5th. The retailer reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.07. Bed Bath & Beyond had a net margin of 5.95% and a return on equity of 27.65%. The firm had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same quarter in the prior year, the company earned $1.91 EPS. The company’s revenue was up 3.4% compared to the same quarter last year. Analysts anticipate that Bed Bath & Beyond Inc. will post $4.31 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 18th. Stockholders of record on Friday, June 16th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend is Wednesday, June 14th. This is a boost from Bed Bath & Beyond’s previous quarterly dividend of $0.13. Bed Bath & Beyond’s dividend payout ratio is presently 10.71%.
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Large investors have recently made changes to their positions in the company. Cutler Group LP boosted its stake in shares of Bed Bath & Beyond by 157.6% in the first quarter. Cutler Group LP now owns 2,934 shares of the retailer’s stock valued at $115,000 after buying an additional 8,027 shares during the last quarter. First Manhattan Co. boosted its stake in shares of Bed Bath & Beyond by 20.3% in the first quarter. First Manhattan Co. now owns 2,966 shares of the retailer’s stock valued at $127,000 after buying an additional 500 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new stake in shares of Bed Bath & Beyond during the first quarter valued at $146,000. Virtus Investment Advisers Inc. acquired a new stake in shares of Bed Bath & Beyond during the third quarter valued at $171,000. Finally, Acrospire Investment Management LLC boosted its stake in shares of Bed Bath & Beyond by 7.1% in the third quarter. Acrospire Investment Management LLC now owns 4,500 shares of the retailer’s stock valued at $194,000 after buying an additional 300 shares during the last quarter. 93.69% of the stock is owned by hedge funds and other institutional investors.
BBBY has been the topic of a number of recent research reports. Credit Suisse Group AG reduced their price objective on Bed Bath & Beyond from $39.00 to $38.00 and set a “neutral” rating on the stock in a research note on Friday, April 7th. Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of Bed Bath & Beyond in a research note on Thursday, April 6th. Argus reduced their price objective on Bed Bath & Beyond from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, February 10th. Zacks Investment Research raised Bed Bath & Beyond from a “sell” rating to a “hold” rating in a research note on Wednesday, March 15th. Finally, Wedbush reduced their price objective on Bed Bath & Beyond from $42.00 to $38.00 and set a “neutral” rating on the stock in a research note on Thursday, April 6th. Eight analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Bed Bath & Beyond presently has a consensus rating of “Hold” and an average price target of $42.50.
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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