Goldman Sachs Group Inc. Lowers Position in Bed Bath & Beyond, Inc. $BBBY

Key Points

• Goldman Sachs Group Inc. has reduced its stake in Bed Bath & Beyond by 30.5%, now holding 1.33% of the company, valued at $4.45 million.
• In the first quarter, other institutional investors have increased their holdings in Bed Bath & Beyond, with 76.30% of the stock now owned by such investors.
• The company reported a loss per share of ($0.22) for the most recent quarter, beating estimates, but its revenue decreased by 29.1% year-over-year.

Goldman Sachs Group Inc. lessened its holdings in Bed Bath & Beyond, Inc. (NYSE:BBBY - Free Report) by 30.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 767,704 shares of the company's stock after selling 336,398 shares during the period. Goldman Sachs Group Inc. owned approximately 1.33% of Bed Bath & Beyond worth $4,453,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd increased its position in Bed Bath & Beyond by 104.2% in the first quarter. Caitong International Asset Management Co. Ltd now owns 5,531 shares of the company's stock worth $32,000 after purchasing an additional 2,823 shares during the last quarter. Platform Technology Partners bought a new stake in Bed Bath & Beyond in the first quarter worth $59,000. CWM LLC increased its position in Bed Bath & Beyond by 188.8% in the first quarter. CWM LLC now owns 10,745 shares of the company's stock worth $62,000 after purchasing an additional 7,025 shares during the last quarter. OLD Mission Capital LLC bought a new position in Bed Bath & Beyond during the first quarter valued at $67,000. Finally, Focus Partners Wealth bought a new position in Bed Bath & Beyond during the fourth quarter valued at $71,000. Institutional investors own 76.30% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have 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 report on Saturday, August 2nd. Wedbush boosted their price objective on shares of Bed Bath & Beyond from $10.00 to $13.00 and gave the company an "outperform" rating in a research report on Tuesday, July 22nd. Finally, Needham & Company LLC reiterated 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 given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $8.86.

Bed Bath & Beyond Trading Down 2.7%

Shares of BBBY traded down $0.26 during trading hours on Friday, reaching $9.50. 2,378,334 shares of the company traded hands, compared to its average volume of 2,339,633. The firm has a market cap of $545.36 million, a price-to-earnings ratio of -2.33 and a beta of 2.77. Bed Bath & Beyond, Inc. has a 12-month low of $3.54 and a 12-month high of $11.67. The stock's fifty day moving average price is $9.29 and its 200 day moving average price is $6.85.

Bed Bath & Beyond (NYSE:BBBY - Get Free Report) last issued its earnings results on Monday, July 28th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.37) by $0.15. The firm had revenue of $282.25 million during 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%. The business's revenue was down 29.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.76) earnings per share. On average, research analysts forecast that Bed Bath & Beyond, Inc. will post -3.75 earnings per share 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.