Invesco Ltd. Has $148,000 Holdings in Bed Bath & Beyond, Inc. $BBBY

Key Points

• Invesco Ltd. significantly reduced its stake in Bed Bath & Beyond, decreasing holdings by 96.8% during the first quarter, leaving them with 25,500 shares valued at $148,000.
• Bed Bath & Beyond's stock has a market cap of $590.17 million and recently reported a quarterly revenue of $282.25 million, exceeding analysts' expectations.
• Analysts have mixed opinions on BBBY stock, with a recent consensus target price of $8.86 and ratings ranging from "Buy" to "Sell."

Invesco Ltd. decreased its stake in shares of Bed Bath & Beyond, Inc. (NYSE:BBBY - Free Report) by 96.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,500 shares of the company's stock after selling 770,945 shares during the period. Invesco Ltd.'s holdings in Bed Bath & Beyond were worth $148,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of BBBY. Haven Private LLC bought a new stake in shares of Bed Bath & Beyond in the first quarter valued at $71,000. Cetera Investment Advisers grew its position in Bed Bath & Beyond by 23.4% during the first quarter. Cetera Investment Advisers now owns 126,530 shares of the company's stock worth $734,000 after buying an additional 23,970 shares in the last quarter. Avantax Advisory Services Inc. boosted its holdings in shares of Bed Bath & Beyond by 21.5% in the 1st quarter. Avantax Advisory Services Inc. now owns 18,655 shares of the company's stock worth $108,000 after purchasing an additional 3,304 shares in the last quarter. Wedbush Securities Inc. boosted its holdings in shares of Bed Bath & Beyond by 18.5% in the 1st quarter. Wedbush Securities Inc. now owns 156,483 shares of the company's stock worth $908,000 after purchasing an additional 24,460 shares in the last quarter. Finally, WMG Financial Advisors LLC purchased a new position in shares of Bed Bath & Beyond in the 1st quarter worth about $107,000. 76.30% of the stock is currently owned by institutional investors.

Bed Bath & Beyond Stock Up 4.0%

NYSE:BBBY opened at $10.28 on Tuesday. The business's 50-day simple moving average is $8.84 and its two-hundred day simple moving average is $6.60. The stock has a market cap of $590.17 million, a PE ratio of -2.53 and a beta of 2.77. Bed Bath & Beyond, Inc. has a 52 week low of $3.54 and a 52 week high of $12.24.

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

Analysts Set New Price Targets

BBBY has been the subject of a number of recent research reports. Needham & Company LLC reissued a "hold" rating on shares of Bed Bath & Beyond in a research note on Tuesday, July 29th. Wall Street Zen raised Bed Bath & Beyond from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, Wedbush raised their price objective on Bed Bath & Beyond from $10.00 to $13.00 and gave the company an "outperform" rating in a research report on Tuesday, July 22nd. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $8.86.

About Bed Bath & Beyond

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.

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