Prudential Financial Inc. reduced its stake in Barnes & Noble, Inc. (NYSE:BKS) by 85.1% during the third quarter, Holdings Channel reports. The firm owned 99,204 shares of the company’s stock after selling 564,770 shares during the period. Prudential Financial Inc. owned 0.14% of Barnes & Noble worth $1,121,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Barnes & Noble by 2.7% in the second quarter. Vanguard Group Inc. now owns 4,558,830 shares of the company’s stock valued at $51,742,000 after buying an additional 121,648 shares during the period. BlackRock Fund Advisors boosted its stake in shares of Barnes & Noble by 12.0% in the second quarter. BlackRock Fund Advisors now owns 3,993,681 shares of the company’s stock valued at $45,328,000 after buying an additional 429,412 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Barnes & Noble by 5.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,493,500 shares of the company’s stock valued at $16,951,000 after buying an additional 82,133 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Barnes & Noble by 6.2% in the third quarter. Bank of New York Mellon Corp now owns 1,345,298 shares of the company’s stock valued at $15,202,000 after buying an additional 78,505 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its stake in shares of Barnes & Noble by 2.1% in the second quarter. Parametric Portfolio Associates LLC now owns 542,366 shares of the company’s stock valued at $6,156,000 after buying an additional 11,115 shares during the period. Hedge funds and other institutional investors own 71.46% of the company’s stock.
Shares of Barnes & Noble, Inc. (NYSE:BKS) traded up 1.88% during trading on Wednesday, reaching $10.85. The company had a trading volume of 200,067 shares. Barnes & Noble, Inc. has a 52-week low of $7.25 and a 52-week high of $13.63. The firm has a market capitalization of $787.76 million, a P/E ratio of 60.28 and a beta of 2.06. The company has a 50 day moving average of $11.78 and a 200-day moving average of $11.68.
Barnes & Noble (NYSE:BKS) last announced its earnings results on Tuesday, November 22nd. The company reported ($0.29) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.05. The company had revenue of $858.50 million for the quarter, compared to analysts’ expectations of $859.78 million. Barnes & Noble had a return on equity of 6.14% and a net margin of 0.36%. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.28) earnings per share. Equities analysts expect that Barnes & Noble, Inc. will post $0.53 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 27th. Stockholders of record on Friday, January 6th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 5.63%. The ex-dividend date is Wednesday, January 4th. Barnes & Noble’s payout ratio is presently 461.57%.
Several equities research analysts have commented on BKS shares. Consumer Edge cut shares of Barnes & Noble from an “outperform” rating to an “equal weight” rating in a research report on Wednesday, November 16th. Zacks Investment Research upgraded shares of Barnes & Noble from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research report on Monday, January 9th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $12.50.
In other news, VP Peter M. Herpich sold 16,369 shares of the stock in a transaction on Wednesday, November 23rd. The stock was sold at an average price of $12.85, for a total transaction of $210,341.65. Following the sale, the vice president now owns 21,931 shares in the company, valued at $281,813.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 19.00% of the stock is currently owned by corporate insiders.
About Barnes & Noble
Barnes & Noble, Inc is a bookseller. The Company is a content and commerce company, which provides access to trade books and other content across its multi-channel distribution platform. It operates in two segments: Barnes & Noble Retail (B&N Retail) and NOOK. The Company is engaged in the sale of trade books (generally hardcover and paperback consumer titles), mass market paperbacks (such as mystery, romance, science fiction and other fiction), children’s books, eBooks and other digital content, textbooks and course-related materials, NOOK and related accessories, bargain books, magazines, gifts, cafe products and services, educational toys and games, music and movies direct to customers through its bookstores or on www.barnesandnoble.com.
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