Charles Schwab Investment Management Inc. Sells 82,773 Shares of Bed Bath & Beyond, Inc. $BBBY

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Beyond, Inc. by 19.3%, selling 82,773 shares and now owns approximately 0.60% of the company valued at $2,004,000.
• Several institutional investors significantly increased their holdings in Beyond during the fourth quarter, with BNP Paribas Financial Markets boosting its stake by 654.5%.
• Despite reporting a quarterly revenue of $282.25 million, earnings per share were at ($0.22), underlining ongoing financial challenges for Beyond with an average analyst forecast of (-3.75 EPS) for the current year.

Charles Schwab Investment Management Inc. lessened its holdings in shares of Bed Bath & Beyond, Inc. (NYSE:BBBY - Free Report) by 19.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 345,518 shares of the company's stock after selling 82,773 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.60% of Bed Bath & Beyond worth $2,004,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Platform Technology Partners purchased a new position in shares of Bed Bath & Beyond during the 1st quarter valued at $59,000. CWM LLC lifted its stake in shares of Bed Bath & Beyond by 188.8% during the 1st quarter. CWM LLC now owns 10,745 shares of the company's stock valued at $62,000 after buying an additional 7,025 shares in the last quarter. Haven Private LLC purchased a new position in shares of Bed Bath & Beyond during the 1st quarter valued at $71,000. Register Financial Advisors LLC purchased a new position in shares of Bed Bath & Beyond during the 1st quarter valued at $74,000. Finally, GAMMA Investing LLC lifted its stake in shares of Bed Bath & Beyond by 49,996.3% during the 1st quarter. GAMMA Investing LLC now owns 13,526 shares of the company's stock valued at $78,000 after buying an additional 13,499 shares in the last quarter. Hedge funds and other institutional investors own 76.30% of the company's stock.

Bed Bath & Beyond Price Performance

NYSE BBBY remained flat at $8.55 on Thursday. 458,516 shares of the company's stock were exchanged, compared to its average volume of 3,113,113. The stock has a market cap of $490.82 million, a PE ratio of -2.10 and a beta of 2.77. The stock's 50 day moving average is $8.68 and its 200 day moving average is $6.61. Bed Bath & Beyond, Inc. has a one year low of $3.54 and a one year high of $12.24.

Bed Bath & Beyond (NYSE:BBBY - Get Free Report) last posted its earnings results on Monday, July 28th. The company reported ($0.22) earnings per share for the quarter, topping analysts' consensus estimates of ($0.37) by $0.15. Bed Bath & Beyond had a negative net margin of 17.86% and a negative return on equity of 78.27%. The firm had revenue of $282.25 million for the quarter, compared to the consensus estimate of $250.37 million. During the same period in the previous year, the firm posted ($0.76) EPS. The business's quarterly revenue was down 29.1% on a year-over-year basis. Equities research analysts expect that Bed Bath & Beyond, Inc. will post -3.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Bed Bath & Beyond from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Needham & Company LLC restated a "hold" rating on shares of Bed Bath & Beyond in a research note on Tuesday, July 29th. Finally, Wedbush lifted their target price on shares of Bed Bath & Beyond from $10.00 to $13.00 and gave the company an "outperform" rating in a research note on Tuesday, July 22nd. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $8.86.

Bed Bath & Beyond Company Profile

Beyond, Inc operates as an online retailer of furniture and home furnishings products in the United States and Canada. The company offers furniture, bedding and bath, patio and outdoor gear, area rugs, tabletop and cookware, décor, storage and organization, small appliances, home improvement, and other products under the Bed Bath & Beyond brand.