Barnes & Noble Education (NYSE:BNED) CFO Sells 2,210 Shares

Barnes & Noble Education, Inc (NYSE:BNED) CFO Jason Snagusky sold 2,210 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $12.50, for a total value of $27,625.00. Following the completion of the transaction, the chief financial officer owned 78,999 shares of the company’s stock, valued at approximately $987,487.50. The trade was a 2.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Barnes & Noble Education Stock Down 0.7%

Shares of BNED stock traded down $0.08 during mid-day trading on Tuesday, reaching $11.39. 308,608 shares of the company’s stock traded hands, compared to its average volume of 298,675. The company’s 50-day moving average price is $10.68 and its 200-day moving average price is $9.57. The company has a market cap of $390.54 million, a P/E ratio of -35.67 and a beta of 1.29. The company has a quick ratio of 0.86, a current ratio of 1.42 and a debt-to-equity ratio of 0.48. Barnes & Noble Education, Inc has a 12 month low of $5.90 and a 12 month high of $14.75.

Barnes & Noble Education Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 30th. Shareholders of record on Thursday, July 16th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Thursday, July 16th.

Analyst Ratings Changes

A number of brokerages have recently commented on BNED. Needham & Company LLC raised Barnes & Noble Education from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research report on Friday, June 26th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Barnes & Noble Education in a research note on Friday, April 10th. Northland Securities set a $18.50 target price on Barnes & Noble Education in a research note on Friday, June 26th. Finally, Zacks Research raised Barnes & Noble Education to a “hold” rating in a research report on Thursday, June 11th. Two equities 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. Based on data from MarketBeat.com, Barnes & Noble Education presently has a consensus rating of “Hold” and a consensus price target of $17.25.

Hedge Funds Weigh In On Barnes & Noble Education

Several hedge funds and other institutional investors have recently bought and sold shares of BNED. Royal Bank of Canada grew its holdings in Barnes & Noble Education by 261.1% during the fourth quarter. Royal Bank of Canada now owns 3,972 shares of the specialty retailer’s stock valued at $36,000 after purchasing an additional 2,872 shares during the period. Caitong International Asset Management Co. Ltd grew its stake in shares of Barnes & Noble Education by 205.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,326 shares of the specialty retailer’s stock valued at $40,000 after acquiring an additional 2,910 shares during the period. Verition Fund Management LLC increased its holdings in Barnes & Noble Education by 13.3% in the 4th quarter. Verition Fund Management LLC now owns 30,215 shares of the specialty retailer’s stock worth $278,000 after acquiring an additional 3,550 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Barnes & Noble Education by 10.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 51,365 shares of the specialty retailer’s stock worth $511,000 after acquiring an additional 4,770 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in Barnes & Noble Education by 46.2% during the fourth quarter. Wells Fargo & Company MN now owns 18,065 shares of the specialty retailer’s stock valued at $166,000 after purchasing an additional 5,712 shares in the last quarter. Institutional investors own 38.51% of the company’s stock.

About Barnes & Noble Education

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.