Barnes & Noble Education, Inc (NYSE:BNED – Get Free Report) passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $11.75 and traded as high as $13.11. Barnes & Noble Education shares last traded at $12.9270, with a volume of 214,805 shares.
Wall Street Analyst Weigh In
A number of brokerages recently commented on BNED. Northland Securities set a $18.50 price objective on Barnes & Noble Education in a research note on Friday, June 26th. Needham & Company LLC raised shares of Barnes & Noble Education from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a report on Friday, June 26th. Weiss Ratings raised shares of Barnes & Noble Education from a “sell (e+)” rating to a “sell (d+)” rating in a report on Tuesday, July 21st. Wall Street Zen raised shares of Barnes & Noble Education from a “hold” rating to a “buy” rating in a report on Tuesday, July 28th. Finally, Zacks Research raised shares of Barnes & Noble Education to a “hold” rating in a report on Thursday, June 11th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Barnes & Noble Education presently has a consensus rating of “Hold” and an average price target of $17.25.
Read Our Latest Analysis on Barnes & Noble Education
Barnes & Noble Education Trading Up 0.2%
Barnes & Noble Education (NYSE:BNED – Get Free Report) last announced its earnings results on Thursday, July 9th. The specialty retailer reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.03. Barnes & Noble Education had a return on equity of 7.92% and a net margin of 0.98%.The firm had revenue of $267.10 million for the quarter, compared to the consensus estimate of $267.55 million. As a group, equities analysts predict that Barnes & Noble Education, Inc will post 0.71 EPS for the current fiscal year.
Barnes & Noble Education Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 30th. Investors of record on Thursday, July 16th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Thursday, July 16th. Barnes & Noble Education’s payout ratio is currently 68.09%.
Insiders Place Their Bets
In related news, CFO Jason Snagusky sold 5,000 shares of the company’s stock in a transaction dated Friday, July 17th. The shares were sold at an average price of $12.64, for a total value of $63,200.00. Following the completion of the sale, the chief financial officer owned 71,762 shares of the company’s stock, valued at $907,071.68. This represents a 6.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold a total of 10,513 shares of company stock valued at $129,173 over the last three months. Corporate insiders own 1.20% of the company’s stock.
Institutional Trading of Barnes & Noble Education
Institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada boosted its holdings in shares of Barnes & Noble Education by 261.1% in the fourth quarter. Royal Bank of Canada now owns 3,972 shares of the specialty retailer’s stock valued at $36,000 after acquiring an additional 2,872 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in Barnes & Noble Education by 205.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,326 shares of the specialty retailer’s stock worth $40,000 after purchasing an additional 2,910 shares in the last quarter. Bank of America Corp DE lifted its position in Barnes & Noble Education by 1,412.1% in the fourth quarter. Bank of America Corp DE now owns 6,139 shares of the specialty retailer’s stock worth $62,000 after purchasing an additional 5,733 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Barnes & Noble Education in the second quarter worth approximately $96,000. Finally, Copeland Capital Management LLC bought a new position in Barnes & Noble Education during the 1st quarter valued at $73,000. 38.51% of the stock is owned by institutional investors and hedge funds.
Barnes & Noble Education Company Profile
Barnes & Noble Education, Inc (NYSE: BNED) is a leading provider of educational products and services to the higher education community. The company operates retail campus bookstores under Barnes & Noble College, offering course materials, general merchandise, and digital content. In addition, Barnes & Noble Education delivers educational technology solutions through its digital learning platform and supplemental courseware.
Originally part of Barnes & Noble, Inc, the company completed its spin-off and initial public offering in February 2015 to focus exclusively on college retail and digital learning.
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