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

A number of other hedge funds and other institutional investors also recently modified their holdings of BBBY. PFG Investments LLC purchased a new stake in shares of Bed Bath & Beyond in the 1st quarter worth approximately $464,000. Able Wealth Management LLC bought a new position in Bed Bath & Beyond in the 1st quarter worth $3,913,000. Two Sigma Investments LP raised its holdings in Bed Bath & Beyond by 75.1% in the 4th quarter. Two Sigma Investments LP now owns 916,178 shares of the company's stock worth $4,517,000 after purchasing an additional 392,977 shares during the period. Oppenheimer & Co. Inc. bought a new position in Bed Bath & Beyond in the 1st quarter worth $318,000. Finally, Fire Capital Management LLC bought a new position in Bed Bath & Beyond in the 4th quarter worth $726,000. Institutional investors own 76.30% of the company's stock.

Bed Bath & Beyond Stock Performance

NYSE BBBY traded down $0.20 during trading on Friday, hitting $10.37. The stock had a trading volume of 2,275,397 shares, compared to its average volume of 2,488,023. The stock has a market capitalization of $595.30 million, a price-to-earnings ratio of -2.55 and a beta of 2.77. Bed Bath & Beyond, Inc. has a one year low of $3.54 and a one year high of $12.20. The stock has a 50 day simple moving average of $9.10 and a 200 day simple moving average of $6.71.

Bed Bath & Beyond (NYSE:BBBY - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.15. The business had revenue of $282.25 million during the quarter, compared to the consensus estimate 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 firm's quarterly revenue was down 29.1% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.76) earnings per share. On average, sell-side analysts predict that Bed Bath & Beyond, Inc. will post -3.75 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on BBBY. Wall Street Zen raised Bed Bath & Beyond from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Wedbush raised their target price on Bed Bath & Beyond from $10.00 to $13.00 and gave the stock an "outperform" rating in a report on Tuesday, July 22nd. Finally, Needham & Company LLC reissued a "hold" rating on shares of Bed Bath & Beyond in a 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. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $8.86.

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.