Marshall Wace LLP bought a new stake in shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY - Get Rating) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 799,798 shares of the retailer's stock, valued at approximately $4,870,000. Marshall Wace LLP owned 1.00% of Bed Bath & Beyond as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the stock. Newbridge Financial Services Group Inc. acquired a new stake in Bed Bath & Beyond during the third quarter valued at $30,000. Transcend Capital Advisors LLC acquired a new stake in shares of Bed Bath & Beyond during the 3rd quarter valued at about $62,000. WINTON GROUP Ltd bought a new stake in shares of Bed Bath & Beyond in the 3rd quarter valued at approximately $82,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Bed Bath & Beyond by 54.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,737 shares of the retailer's stock worth $103,000 after buying an additional 7,306 shares during the last quarter. Finally, Brookstone Capital Management bought a new position in Bed Bath & Beyond during the third quarter valued at approximately $110,000. 64.16% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several analysts have commented on the stock. UBS Group decreased their target price on shares of Bed Bath & Beyond from $3.50 to $1.50 and set a "sell" rating for the company in a research report on Friday, January 6th. Wedbush restated an "underperform" rating on shares of Bed Bath & Beyond in a report on Tuesday, February 7th. Odeon Capital Group cut Bed Bath & Beyond from a "hold" rating to a "sell" rating in a research report on Tuesday, February 7th. Telsey Advisory Group lowered their price objective on Bed Bath & Beyond from $3.00 to $2.00 and set an "underperform" rating on the stock in a report on Thursday, January 5th. Finally, Wells Fargo & Company reduced their target price on Bed Bath & Beyond from $3.00 to $2.00 and set an "underweight" rating for the company in a report on Thursday, January 5th. Thirteen research analysts have rated the stock with a sell rating, According to MarketBeat.com, Bed Bath & Beyond currently has an average rating of "Reduce" and an average price target of $4.00.
Bed Bath & Beyond Trading Down 7.5 %
Shares of Bed Bath & Beyond stock opened at $1.24 on Tuesday. Bed Bath & Beyond Inc. has a 1 year low of $1.13 and a 1 year high of $30.00. The company's fifty day simple moving average is $2.46 and its 200-day simple moving average is $4.23. The company has a market cap of $145.48 million, a price-to-earnings ratio of -0.08 and a beta of 1.62.
Bed Bath & Beyond (NASDAQ:BBBY - Get Rating) last announced its quarterly earnings data on Tuesday, January 10th. The retailer reported ($3.65) EPS for the quarter, missing analysts' consensus estimates of ($2.36) by ($1.29). The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same period in the prior year, the company earned ($0.25) earnings per share. The business's revenue was down 33.0% compared to the same quarter last year. As a group, research analysts forecast that Bed Bath & Beyond Inc. will post -11.71 earnings per share for the current fiscal year.
Bed Bath & Beyond Company Profile
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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