WMG Financial Advisors LLC Buys 34,900 Shares of Bed Bath & Beyond, Inc. $BBBY

Key Points

• WMG Financial Advisors LLC significantly increased its stake in Bed Bath & Beyond, Inc. by 189.2% in the second quarter, owning a total of 53,350 shares valued at approximately $367,000.
• Despite some upgrades, analysts have mixed opinions on the stock, with a consensus rating of "Reduce" and an average price target of $8.86.
• Bed Bath & Beyond reported revenue of $282.25 million and earnings per share of ($0.22), surpassing analysts' estimates and indicating a 29.1% decline year-over-year.

WMG Financial Advisors LLC boosted its position in Bed Bath & Beyond, Inc. (NYSE:BBBY - Free Report) by 189.2% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 53,350 shares of the company's stock after purchasing an additional 34,900 shares during the period. WMG Financial Advisors LLC owned about 0.09% of Bed Bath & Beyond worth $367,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of BBBY. Able Wealth Management LLC acquired a new stake in Bed Bath & Beyond in the 1st quarter valued at about $3,913,000. Nuveen LLC acquired a new stake in Bed Bath & Beyond in the 1st quarter valued at about $2,256,000. Jump Financial LLC acquired a new stake in Bed Bath & Beyond in the 1st quarter valued at about $2,118,000. PDT Partners LLC acquired a new stake in Bed Bath & Beyond during the first quarter worth approximately $642,000. Finally, AQR Capital Management LLC lifted its position in Bed Bath & Beyond by 217.4% during the first quarter. AQR Capital Management LLC now owns 131,501 shares of the company's stock worth $763,000 after acquiring an additional 90,076 shares during the last quarter. 76.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports 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. Weiss Ratings restated a "sell (d-)" rating on shares of Bed Bath & Beyond in a research report on Wednesday. Needham & Company LLC restated a "hold" rating on shares of Bed Bath & Beyond in a research report on Tuesday, July 29th. Finally, Wedbush raised their price objective 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. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Reduce" and an average price target of $8.86.

Bed Bath & Beyond Trading Down 9.3%

NYSE BBBY opened at $10.10 on Friday. Bed Bath & Beyond, Inc. has a 1-year low of $3.54 and a 1-year high of $12.65. The company has a 50 day moving average of $9.54 and a 200-day moving average of $7.30. The company has a market cap of $579.80 million, a price-to-earnings ratio of -2.48 and a beta of 2.76.

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, 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 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 period last year, the firm posted ($0.76) earnings per share. On average, equities research analysts forecast that Bed Bath & Beyond, Inc. will post -3.75 earnings per share for the current year.

Bed Bath & Beyond Company 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.

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