Gryphon Financial Partners LLC Increases Holdings in Bed Bath & Beyond, Inc. $BBBY

Key Points

• Gryphon Financial Partners LLC boosted its Bed Bath & Beyond stake by 900% in the first quarter, ending with 270,709 shares worth about $1.26 million.
• Institutional ownership remains high, with hedge funds and other institutions holding about 76.3% of the stock, while insiders own just 1.8%.
• Analysts are mixed on BBBY: the stock has a Hold consensus rating with an average price target of $8.67, though Wedbush recently raised its target to $10 and kept an Outperform rating.

Gryphon Financial Partners LLC grew its stake in Bed Bath & Beyond, Inc. (NYSE:BBBY - Free Report) by 900.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 270,709 shares of the company's stock after acquiring an additional 243,639 shares during the quarter. Gryphon Financial Partners LLC owned 0.37% of Bed Bath & Beyond worth $1,256,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Headlands Technologies LLC bought a new position in shares of Bed Bath & Beyond during the second quarter valued at $33,000. Public Employees Retirement System of Ohio bought a new position in Bed Bath & Beyond in the 4th quarter worth about $37,000. New York State Common Retirement Fund bought a new position in Bed Bath & Beyond in the 4th quarter worth about $47,000. Stockman Wealth Management Inc. purchased a new stake in Bed Bath & Beyond during the 4th quarter valued at about $55,000. Finally, ExodusPoint Capital Management LP purchased a new stake in Bed Bath & Beyond during the 4th quarter valued at about $63,000. 76.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on BBBY. Zacks Research raised shares of Bed Bath & Beyond to a "hold" rating in a report on Wednesday, June 24th. Wedbush increased their price target on shares of Bed Bath & Beyond from $8.00 to $10.00 and gave the company an "outperform" rating in a report on Tuesday, June 23rd. Finally, Weiss Ratings upgraded shares of Bed Bath & Beyond from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, July 8th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $8.67.

Bed Bath & Beyond Price Performance

Bed Bath & Beyond stock opened at $5.04 on Friday. Bed Bath & Beyond, Inc. has a one year low of $4.26 and a one year high of $12.65. The business's fifty day moving average is $5.68 and its 200 day moving average is $5.54. The stock has a market capitalization of $373.03 million, a PE ratio of -5.31 and a beta of 2.85.

Bed Bath & Beyond (NYSE:BBBY - Get Free Report) last issued its earnings results on Monday, April 27th. The company reported ($0.25) earnings per share for the quarter, topping analysts' consensus estimates of ($0.31) by $0.06. The business had revenue of $248.00 million during the quarter. Bed Bath & Beyond had a negative return on equity of 27.60% and a negative net margin of 5.76%. As a group, sell-side analysts expect that Bed Bath & Beyond, Inc. will post -0.79 EPS for the current fiscal year.

Insider Activity at Bed Bath & Beyond

In other news, Director Joanna M. Burkey sold 9,943 shares of the business's stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $6.38, for a total transaction of $63,436.34. Following the completion of the transaction, the director directly owned 32,474 shares of the company's stock, valued at $207,184.12. The trade was a 23.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.80% of the stock is owned by corporate insiders.

About Bed Bath & Beyond

Bed Bath & Beyond Inc NYSE: BBBY was a leading home goods retailer offering a broad assortment of domestics merchandise, including bed linens, bath accessories, kitchenware, home décor and small appliances. Through its flagship Bed Bath & Beyond stores and affiliated banners, the company provided both in-store and online shopping experiences, catering to a wide range of household needs from everyday essentials to specialized nursery and wellness products.

The company was founded in 1971 by Leonard Feinstein and Warren Eisenberg and was headquartered in Union, New Jersey.

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