Bed Bath & Beyond, Inc. $BBBY Shares Sold by Deutsche Bank AG

Key Points

• Deutsche Bank AG significantly reduced its stake in Beyond, Inc. by 88.4%, selling 424,780 shares and now holding only 55,644 shares worth $323,000.
• Analysts have set a new price target for Beyond, with Wedbush increasing it from $10.00 to $13.00, while the consensus rating remains a "hold" with an average target of $8.86.
• Beyond, Inc. reported $282.25 million in revenue for the last quarter, beating estimates and showing improvement from previous quarters despite a 29.1% decline year-over-year.

Deutsche Bank AG reduced its position in Bed Bath & Beyond, Inc. (NYSE:BBBY - Free Report) by 88.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 55,644 shares of the company's stock after selling 424,780 shares during the period. Deutsche Bank AG owned approximately 0.10% of Bed Bath & Beyond worth $323,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BBBY. Renaissance Technologies LLC purchased a new position in Bed Bath & Beyond in the 4th quarter valued at about $153,000. Raymond James Financial Inc. purchased a new position in Bed Bath & Beyond in the 4th quarter valued at about $578,000. Barclays PLC boosted its position in Bed Bath & Beyond by 51.4% in the 4th quarter. Barclays PLC now owns 93,939 shares of the company's stock valued at $463,000 after buying an additional 31,902 shares during the last quarter. Dark Forest Capital Management LP purchased a new position in Bed Bath & Beyond in the 4th quarter valued at about $115,000. Finally, Price T Rowe Associates Inc. MD boosted its position in Bed Bath & Beyond by 61.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 42,227 shares of the company's stock valued at $209,000 after buying an additional 16,043 shares during the last quarter. 76.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on BBBY. Wedbush increased their price target on shares of Bed Bath & Beyond from $10.00 to $13.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. Wall Street Zen raised shares of Bed Bath & Beyond from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Bed Bath & Beyond in a research report on Tuesday, July 29th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Bed Bath & Beyond currently has a consensus rating of "Hold" and an average price target of $8.86.

Bed Bath & Beyond Trading Up 5.2%

BBBY traded up $0.42 on Wednesday, hitting $8.56. 2,345,775 shares of the company's stock were exchanged, compared to its average volume of 3,129,189. The firm has a market cap of $491.40 million, a PE ratio of -2.10 and a beta of 2.77. Bed Bath & Beyond, Inc. has a twelve month low of $3.54 and a twelve month high of $12.24. The stock has a fifty day moving average of $8.68 and a two-hundred day moving average of $6.61.

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

Bed Bath & Beyond 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.