State of Alaska Department of Revenue Sells 4,350 Shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY)


State of Alaska Department of Revenue reduced its position in shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY – Get Rating) by 6.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 67,202 shares of the retailer’s stock after selling 4,350 shares during the quarter. State of Alaska Department of Revenue’s holdings in Bed Bath & Beyond were worth $1,514,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BBBY. EN Shaw & Co. Inc. bought a new position in shares of Bed Bath & Beyond during the 4th quarter valued at approximately $8,052,000. Brown Advisory Inc. boosted its position in shares of Bed Bath & Beyond by 14.0% during the 4th quarter. Brown Advisory Inc. now owns 2,830,673 shares of the retailer’s stock valued at $41,270,000 after acquiring an additional 346,912 shares during the last quarter. Seven Eight Capital LP bought a new position in shares of Bed Bath & Beyond during the 4th quarter valued at approximately $3,155,000. Ardevora Asset Management LLP boosted its position in shares of Bed Bath & Beyond by 9.4% during the 4th quarter. Ardevora Asset Management LLP now owns 2,399,000 shares of the retailer’s stock valued at $34,977,000 after acquiring an additional 205,300 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new stake in Bed Bath & Beyond in the fourth quarter worth $2,524,000.

BBBY stock opened at $4.71 on Friday. The company has a debt-to-equity ratio of 6.77, a current ratio of 1.14 and a quick ratio of 0.31. The business has a 50-day moving average price of $9.15 and a 200-day moving average price of $14.52. The company has a market capitalization of $376.26 million, a P/E ratio of -0.82 and a beta of 1.81. Bed Bath & Beyond Inc. has a 1-year low of $4.38 and a 1-year high of $32.61.

Bed Bath & Beyond (NASDAQ:BBBY – Get Rating) last released its quarterly earnings data on Wednesday, June 29th. The retailer reported ($2.83) earnings per share for the quarter, missing the consensus estimate of ($1.39) by ($1.44). The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.51 billion. Bed Bath & Beyond had a negative net margin of 7.11% and a negative return on equity of 14.09%. The business’s revenue was down 25.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.05 earnings per share. On average, analysts anticipate that Bed Bath & Beyond Inc. will post -2.61 earnings per share for the current fiscal year.

BBBY has been the subject of a number of analyst reports. B. Riley lowered their price target on Bed Bath & Beyond from $7.00 to $5.00 in a research report on Thursday. KeyCorp lowered their price target on Bed Bath & Beyond from $6.00 to $5.00 and set an “underweight” rating for the company in a research report on Tuesday, June 28th. UBS Group lowered their price target on Bed Bath & Beyond from $12.00 to $5.00 and set a “sell” rating for the company in a research report on Wednesday, June 22nd. StockNews.com began coverage on Bed Bath & Beyond in a research report on Thursday, March 31st. They issued a “sell” rating for the company. Finally, The Goldman Sachs Group decreased their target price on Bed Bath & Beyond from $14.00 to $7.00 and set a “sell” rating for the company in a research report on Thursday, April 14th. Nine research analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $6.83.

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.

Further Reading

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Institutional Ownership by Quarter for Bed Bath & Beyond (NASDAQ:BBBY)



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