Barnes & Noble, Inc. (BKS) Major Shareholder Abrams Capital Management, L.P Sells 4,500,000 Shares of Stock
Barnes & Noble, Inc. (NYSE:BKS) major shareholder Abrams Capital Management, L.P sold 4,500,000 shares of the stock in a transaction that occurred on Tuesday, April 18th. The stock was sold at an average price of $8.58, for a total value of $38,610,000.00. The sale was disclosed in a filing with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Barnes & Noble, Inc. (NYSE:BKS) traded down 1.68% during trading on Friday, reaching $8.80. The company’s stock had a trading volume of 453,993 shares. The company has a market cap of $637.04 million, a price-to-earnings ratio of 169.23 and a beta of 2.21. The stock’s 50 day moving average is $8.98 and its 200 day moving average is $10.58. Barnes & Noble, Inc. has a 12 month low of $8.45 and a 12 month high of $13.63.
Barnes & Noble (NYSE:BKS) last released its earnings results on Thursday, March 2nd. The specialty retailer reported $0.96 EPS for the quarter, missing the Zacks’ consensus estimate of $1.13 by $0.17. The firm earned $1.30 billion during the quarter, compared to the consensus estimate of $1.29 billion. Barnes & Noble had a net margin of 0.36% and a return on equity of 6.14%. The firm’s revenue was down 8.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.04 EPS. On average, equities analysts expect that Barnes & Noble, Inc. will post $0.28 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Friday, April 7th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, April 5th. This represents a $0.60 dividend on an annualized basis and a yield of 6.70%. Barnes & Noble’s dividend payout ratio is presently 461.57%.
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Separately, Zacks Investment Research upgraded Barnes & Noble from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research note on Monday, January 9th. Five research analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold” and an average price target of $12.50.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC boosted its position in Barnes & Noble by 158.9% in the first quarter. Nisa Investment Advisors LLC now owns 56,700 shares of the specialty retailer’s stock worth $524,000 after buying an additional 34,800 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in Barnes & Noble by 1.4% in the first quarter. Louisiana State Employees Retirement System now owns 22,500 shares of the specialty retailer’s stock worth $208,000 after buying an additional 300 shares in the last quarter. Highbridge Capital Management LLC purchased a new position in Barnes & Noble during the fourth quarter worth approximately $955,000. Teachers Advisors LLC boosted its position in Barnes & Noble by 85.0% in the fourth quarter. Teachers Advisors LLC now owns 242,569 shares of the specialty retailer’s stock worth $2,705,000 after buying an additional 111,427 shares in the last quarter. Finally, Norges Bank purchased a new position in Barnes & Noble during the fourth quarter worth approximately $10,521,000. 71.76% of the stock is currently owned by institutional investors and hedge funds.
Barnes & Noble Company Profile
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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