Gryphon Financial Partners LLC Purchases 243,639 Shares of Bed Bath & Beyond, Inc. $BBBY

Gryphon Financial Partners LLC boosted its position in shares of Bed Bath & Beyond, Inc. (NYSE:BBBY) by 900.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 270,709 shares of the company’s stock after acquiring an additional 243,639 shares during the quarter. Gryphon Financial Partners LLC’s holdings in Bed Bath & Beyond were worth $1,256,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Able Wealth Management LLC purchased a new position in Bed Bath & Beyond in the fourth quarter worth about $4,612,000. WMG Financial Advisors LLC purchased a new stake in shares of Bed Bath & Beyond during the 4th quarter valued at about $507,000. GSA Capital Partners LLP purchased a new stake in shares of Bed Bath & Beyond during the 4th quarter valued at about $920,000. ProShare Advisors LLC bought a new position in shares of Bed Bath & Beyond in the 4th quarter worth approximately $3,290,000. Finally, Lane Brothers & Co. Inc. bought a new position in shares of Bed Bath & Beyond in the 4th quarter worth approximately $142,000. Institutional investors own 76.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Zacks Research upgraded shares of Bed Bath & Beyond to a “hold” rating in a research report on Wednesday, June 24th. Wedbush upped their target price on shares of Bed Bath & Beyond from $8.00 to $10.00 and gave the company an “outperform” rating in a report on Tuesday, June 23rd. Finally, Weiss Ratings upgraded shares of Bed Bath & Beyond from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 8th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Bed Bath & Beyond presently has a consensus rating of “Hold” and an average price target of $8.67.

Insider Activity

In related news, Director Joanna M. Burkey sold 9,943 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $6.38, for a total value of $63,436.34. Following the completion of the sale, the director directly owned 32,474 shares of the company’s stock, valued at approximately $207,184.12. This represents a 23.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.80% of the company’s stock.

Bed Bath & Beyond Stock Performance

NYSE:BBBY opened at $5.04 on Friday. The stock has a 50-day simple moving average of $5.68 and a two-hundred day simple moving average of $5.54. Bed Bath & Beyond, Inc. has a 52-week low of $4.26 and a 52-week high of $12.65. The firm has a market capitalization of $373.03 million, a PE ratio of -5.31 and a beta of 2.85.

Bed Bath & Beyond (NYSE:BBBY) last issued its quarterly earnings results on Monday, April 27th. The company reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.06. Bed Bath & Beyond had a negative return on equity of 27.60% and a negative net margin of 5.76%.The business had revenue of $248.00 million during the quarter. Equities analysts forecast that Bed Bath & Beyond, Inc. will post -0.79 earnings per share for the current fiscal year.

About Bed Bath & Beyond

Bed Bath & Beyond Inc (NYSE:BBBY) was a leading home goods retailer offering a broad assortment of domestics merchandise, including bed linens, bath accessories, kitchenware, home décor and small appliances. Through its flagship Bed Bath & Beyond stores and affiliated banners, the company provided both in-store and online shopping experiences, catering to a wide range of household needs from everyday essentials to specialized nursery and wellness products.

The company was founded in 1971 by Leonard Feinstein and Warren Eisenberg and was headquartered in Union, New Jersey.