Oregon Public Employees Retirement Fund cut its holdings in shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY – Get Rating) by 9.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,431 shares of the retailer’s stock after selling 3,873 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Bed Bath & Beyond were worth $821,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of the company. National Bank of Canada FI bought a new stake in Bed Bath & Beyond during the fourth quarter worth about $70,000. First Bank & Trust raised its stake in shares of Bed Bath & Beyond by 111.0% during the 4th quarter. First Bank & Trust now owns 5,947 shares of the retailer’s stock worth $87,000 after purchasing an additional 3,129 shares in the last quarter. Equitec Proprietary Markets LLC acquired a new stake in shares of Bed Bath & Beyond in the 4th quarter valued at approximately $93,000. Gladius Capital Management LP bought a new position in shares of Bed Bath & Beyond in the fourth quarter valued at $97,000. Finally, Karp Capital Management Corp bought a new stake in Bed Bath & Beyond during the first quarter worth $223,000.
BBBY has been the topic of several recent analyst reports. Morgan Stanley lowered their objective price on shares of Bed Bath & Beyond from $7.00 to $2.00 and set an “underweight” rating on the stock in a research note on Thursday, June 30th. Bank of America dropped their price objective on Bed Bath & Beyond from $8.00 to $3.00 and set an “underperform” rating on the stock in a research note on Wednesday, June 22nd. Telsey Advisory Group reduced their target price on Bed Bath & Beyond from $6.00 to $3.00 and set an “underperform” rating for the company in a research note on Thursday, June 30th. UBS Group dropped their price target on Bed Bath & Beyond from $12.00 to $5.00 and set a “sell” rating on the stock in a research note on Wednesday, June 22nd. Finally, B. Riley decreased their price objective on shares of Bed Bath & Beyond from $7.00 to $5.00 in a report on Thursday, June 30th. Nine investment analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat, Bed Bath & Beyond currently has an average rating of “Reduce” and an average price target of $6.67.
Shares of Bed Bath & Beyond stock opened at $5.08 on Thursday. The company’s 50 day moving average price is $7.58 and its two-hundred day moving average price is $13.93. The company has a debt-to-equity ratio of 6.77, a quick ratio of 0.15 and a current ratio of 1.02. Bed Bath & Beyond Inc. has a fifty-two week low of $4.38 and a fifty-two week high of $30.35.
Bed Bath & Beyond (NASDAQ:BBBY – Get Rating) last announced its quarterly earnings results on Wednesday, June 29th. The retailer reported ($2.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.39) by ($1.44). The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.51 billion. Bed Bath & Beyond had a negative net margin of 11.74% and a negative return on equity of 90.91%. The company’s revenue was down 25.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.05 earnings per share. On average, research analysts anticipate that Bed Bath & Beyond Inc. will post -6.04 EPS for the current year.
In other news, CEO Sue Gove bought 50,000 shares of the company’s stock in a transaction that occurred on Friday, July 1st. The shares were acquired at an average price of $4.61 per share, for a total transaction of $230,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 105,587 shares in the company, valued at $486,756.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeff Kirwan purchased 10,000 shares of the firm’s stock in a transaction on Friday, July 1st. The shares were acquired at an average price of $4.90 per share, with a total value of $49,000.00. Following the completion of the acquisition, the director now owns 43,455 shares in the company, valued at approximately $212,929.50. The disclosure for this purchase can be found here. 1.70% of the stock is owned by company insiders.
About Bed Bath & Beyond (Get Rating)
Bed Bath & Beyond Inc, together with its subsidiaries, operates a chain of retail stores. It sells a range of domestics merchandise, including bed linens and related items, bath items, and kitchen textiles; and home furnishings, such as kitchen and tabletop items, fine tabletop, basic housewares, general home furnishings, consumables, and various juvenile products.
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