Barclays PLC boosted its position in shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY - Get Rating) by 654.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 634,555 shares of the retailer's stock after purchasing an additional 550,415 shares during the period. Barclays PLC owned about 0.79% of Bed Bath & Beyond worth $3,865,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in BBBY. Newbridge Financial Services Group Inc. bought a new position in shares of Bed Bath & Beyond in the third quarter worth about $30,000. KBC Group NV bought a new position in shares of Bed Bath & Beyond in the second quarter worth about $45,000. Transcend Capital Advisors LLC bought a new position in shares of Bed Bath & Beyond in the third quarter worth about $62,000. OLD National Bancorp IN bought a new position in shares of Bed Bath & Beyond in the second quarter worth about $65,000. Finally, Banco Bilbao Vizcaya Argentaria S.A. acquired a new stake in shares of Bed Bath & Beyond during the 2nd quarter worth approximately $77,000. 64.16% of the stock is owned by institutional investors.
Bed Bath & Beyond Stock Performance
Shares of BBBY opened at $2.87 on Tuesday. Bed Bath & Beyond Inc. has a twelve month low of $1.27 and a twelve month high of $30.06. The firm's 50 day moving average price is $3.00 and its two-hundred day moving average price is $5.65. The firm has a market cap of $230.63 million, a P/E ratio of -0.19 and a beta of 1.52.
Bed Bath & Beyond (NASDAQ:BBBY - Get Rating) last announced its quarterly earnings results on Tuesday, January 10th. The retailer reported ($3.65) earnings per share for the quarter, missing analysts' consensus estimates of ($2.36) by ($1.29). The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.34 billion. Bed Bath & Beyond had a negative net margin of 20.54% and a negative return on equity of 90.91%. The business's quarterly revenue was down 33.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.25) EPS. On average, sell-side analysts anticipate that Bed Bath & Beyond Inc. will post -10.8 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several brokerages have recently commented on BBBY. Telsey Advisory Group lowered their price target on shares of Bed Bath & Beyond from $3.00 to $2.00 and set an "underperform" rating for the company in a research report on Thursday, January 5th. Wells Fargo & Company decreased their price objective on shares of Bed Bath & Beyond from $3.00 to $2.00 and set an "underweight" rating for the company in a report on Thursday, January 5th. Finally, UBS Group decreased their price objective on shares of Bed Bath & Beyond from $3.50 to $1.50 and set a "sell" rating for the company in a report on Friday, January 6th. Twelve equities research analysts have rated the stock with a sell rating and one has given a hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Reduce" and a consensus target price of $4.00.
About Bed Bath & Beyond
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Bed Bath & Beyond, Inc engages in the operation of retail stores and retails domestics merchandise and home furnishings. Its products include domestic merchandise and home furnishings such as bed linens and related items, bath items, kitchen textiles, kitchen and tabletop items, fine tabletop, basic house wares, general home furnishings, and consumables.
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