Clifford Swan Investment Counsel LLC Sells 6,460 Shares of Bed Bath & Beyond (BBBY)

Clifford Swan Investment Counsel LLC cut its holdings in Bed Bath & Beyond (NASDAQ:BBBY) by 7.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 83,866 shares of the retailer’s stock after selling 6,460 shares during the quarter. Clifford Swan Investment Counsel LLC’s holdings in Bed Bath & Beyond were worth $1,760,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in BBBY. Towle & Co. boosted its position in shares of Bed Bath & Beyond by 31.2% during the first quarter. Towle & Co. now owns 1,336,180 shares of the retailer’s stock worth $28,046,000 after purchasing an additional 317,610 shares in the last quarter. Aperio Group LLC boosted its position in shares of Bed Bath & Beyond by 2.4% during the first quarter. Aperio Group LLC now owns 400,782 shares of the retailer’s stock worth $8,412,000 after purchasing an additional 9,570 shares in the last quarter. Fiduciary Trust Co. bought a new position in shares of Bed Bath & Beyond during the first quarter worth $407,000. Engineers Gate Manager LP boosted its position in shares of Bed Bath & Beyond by 221.9% during the first quarter. Engineers Gate Manager LP now owns 324,730 shares of the retailer’s stock worth $6,816,000 after purchasing an additional 223,858 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of Bed Bath & Beyond by 7.1% during the first quarter. Schwab Charles Investment Management Inc. now owns 854,871 shares of the retailer’s stock worth $17,944,000 after purchasing an additional 56,753 shares in the last quarter. 93.33% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have recently weighed in on the stock. BidaskClub raised shares of Bed Bath & Beyond from a “sell” rating to a “hold” rating in a research report on Wednesday, January 31st. JPMorgan Chase cut shares of Bed Bath & Beyond from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $23.03 to $18.00 in a research report on Friday, January 26th. Telsey Advisory Group reissued a “market perform” rating on shares of Bed Bath & Beyond in a research report on Thursday, January 25th. Zacks Investment Research raised shares of Bed Bath & Beyond from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research report on Tuesday, February 20th. Finally, ValuEngine cut shares of Bed Bath & Beyond from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 2nd. Eleven research analysts have rated the stock with a sell rating, twelve have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $22.61.

BBBY opened at $17.85 on Friday. The firm has a market capitalization of $2.47 billion, a P/E ratio of 5.42, a P/E/G ratio of -3.84 and a beta of 1.01. Bed Bath & Beyond has a 12 month low of $17.58 and a 12 month high of $17.87. The company has a current ratio of 1.83, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52.

Bed Bath & Beyond (NASDAQ:BBBY) last posted its quarterly earnings data on Wednesday, April 11th. The retailer reported $1.48 EPS for the quarter, beating the consensus estimate of $1.41 by $0.07. The business had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.68 billion. Bed Bath & Beyond had a net margin of 3.44% and a return on equity of 16.45%. The firm’s revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.84 EPS. equities analysts forecast that Bed Bath & Beyond will post 2.29 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 17th. Investors of record on Friday, June 15th will be given a $0.16 dividend. This is a boost from Bed Bath & Beyond’s previous quarterly dividend of $0.15. This represents a $0.64 annualized dividend and a yield of 3.59%. The ex-dividend date of this dividend is Thursday, June 14th. Bed Bath & Beyond’s payout ratio is currently 19.23%.

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 juvenile products.

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

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