Key Points
- CEO Jonathan Shar sold 30,000 BNED shares at an average price of $11.04, generating $331,200 and reducing his position by 8.44% to 325,285 shares.
- Barnes & Noble Education reported quarterly EPS of $(0.37), beating estimates of $(0.48), but revenue of $290.6 million fell short of the $306.66 million consensus.
- Analysts hold a mixed view, resulting in a consensus “Hold” rating and an average price target of $17.25; the company also declared a quarterly dividend of $0.08 per share.
Barnes & Noble Education, Inc (NYSE:BNED - Get Free Report) CEO Jonathan Shar sold 30,000 shares of the company's stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $11.04, for a total transaction of $331,200.00. Following the completion of the transaction, the chief executive officer owned 325,285 shares in the company, valued at approximately $3,591,146.40. The trade was a 8.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Barnes & Noble Education Stock Performance
BNED stock opened at $11.13 on Friday. The stock's 50 day simple moving average is $12.00 and its 200 day simple moving average is $10.93. The company has a current ratio of 1.66, a quick ratio of 0.64 and a debt-to-equity ratio of 0.44. Barnes & Noble Education, Inc has a 12-month low of $5.90 and a 12-month high of $14.75. The stock has a market capitalization of $385.84 million, a PE ratio of 17.39 and a beta of 1.27.
Barnes & Noble Education (NYSE:BNED - Get Free Report) last announced its quarterly earnings results on Tuesday, September 8th. The specialty retailer reported ($0.37) EPS for the quarter, topping analysts' consensus estimates of ($0.48) by $0.11. Barnes & Noble Education had a net margin of 1.29% and a return on equity of 8.77%. The firm had revenue of $290.60 million during the quarter, compared to analyst estimates of $306.66 million. As a group, research analysts forecast that Barnes & Noble Education, Inc will post 0.79 earnings per share for the current fiscal year.
Barnes & Noble Education Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 29th. Stockholders of record on Wednesday, October 14th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Wednesday, October 14th. Barnes & Noble Education's dividend payout ratio is 50.00%.
Hedge Funds Weigh In On Barnes & Noble Education
A number of hedge funds have recently modified their holdings of BNED. Bank of America Corp DE grew its position in shares of Barnes & Noble Education by 119.6% during the first quarter. Bank of America Corp DE now owns 355,943 shares of the specialty retailer's stock valued at $3,143,000 after purchasing an additional 193,876 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of Barnes & Noble Education in the second quarter worth about $785,000. Bank of New York Mellon Corp purchased a new stake in shares of Barnes & Noble Education in the second quarter worth about $510,000. Kanen Wealth Management LLC boosted its stake in Barnes & Noble Education by 0.7% during the first quarter. Kanen Wealth Management LLC now owns 3,423,782 shares of the specialty retailer's stock valued at $30,232,000 after buying an additional 23,800 shares during the last quarter. Finally, AXQ Capital LP bought a new position in Barnes & Noble Education during the fourth quarter valued at approximately $144,000. 38.51% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several analysts recently issued reports on the stock. Weiss Ratings upgraded shares of Barnes & Noble Education from a "sell (e+)" rating to a "sell (d+)" rating in a research report on Tuesday, July 21st. Needham & Company LLC reiterated a "buy" rating and set a $16.00 price target on shares of Barnes & Noble Education in a research note on Wednesday, September 9th. Wall Street Zen downgraded shares of Barnes & Noble Education from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Zacks Research upgraded Barnes & Noble Education to a "hold" rating in a research note on Thursday, June 11th. Finally, Northland Securities set a $18.50 target price on Barnes & Noble Education in a report on Friday, June 26th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $17.25.
Check Out Our Latest Analysis on Barnes & Noble Education
Barnes & Noble Education Company Profile
(
Get Free Report)
Barnes & Noble Education, Inc (NYSE: BNED) is an education services company that supports colleges, universities and their students across the United States. Through institutional partnerships, the company provides retail, digital and operational solutions designed to support the delivery of course materials and campus-related products and services.
Its Barnes & Noble College business operates physical and online campus bookstores, offering new and used textbooks, textbook rentals, digital course materials, general merchandise, school apparel, supplies, technology products and convenience items.
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