Great Lakes Advisors LLC Invests $2.09 Million in Bed Bath & Beyond, Inc. $BBBY

Great Lakes Advisors LLC acquired a new stake in Bed Bath & Beyond, Inc. (NYSE:BBBY) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 360,484 shares of the company’s stock, valued at approximately $2,087,000.

Other hedge funds have also made changes to their positions in the company. Headlands Technologies LLC acquired a new stake in Bed Bath & Beyond in the second quarter worth approximately $33,000. Public Employees Retirement System of Ohio acquired a new stake in Bed Bath & Beyond during the 4th quarter worth about $37,000. New York State Common Retirement Fund acquired a new stake in shares of Bed Bath & Beyond during the 4th quarter valued at about $47,000. Stockman Wealth Management Inc. bought a new stake in Bed Bath & Beyond in the fourth quarter worth $55,000. Finally, ExodusPoint Capital Management LP bought a new stake in Bed Bath & Beyond during the fourth quarter worth approximately $63,000. Institutional investors and hedge funds own 76.30% of the company’s stock.

Bed Bath & Beyond Trading Up 0.6%

Shares of NYSE BBBY opened at $4.38 on Friday. The company’s fifty day moving average is $5.27 and its 200-day moving average is $5.24. The stock has a market cap of $417.07 million, a price-to-earnings ratio of -3.84 and a beta of 2.89. Bed Bath & Beyond, Inc. has a twelve month low of $4.18 and a twelve month high of $12.65. The company has a quick ratio of 0.59, a current ratio of 0.76 and a debt-to-equity ratio of 0.06.

Bed Bath & Beyond (NYSE:BBBY) last issued its quarterly earnings data on Tuesday, August 4th. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.23). The business had revenue of $361.16 million for the quarter. Bed Bath & Beyond had a negative return on equity of 37.60% and a negative net margin of 7.13%.During the same quarter in the previous year, the firm earned ($0.34) earnings per share. Equities research analysts predict that Bed Bath & Beyond, Inc. will post -0.92 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on BBBY shares. Wall Street Zen downgraded Bed Bath & Beyond from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. 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. Wedbush upped their price objective on shares of Bed Bath & Beyond from $8.00 to $10.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 23rd. Finally, Zacks Research raised Bed Bath & Beyond to a “hold” rating in a report on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $8.67.

Insider Buying and Selling at Bed Bath & Beyond

In related news, Director Joanna M. Burkey sold 9,943 shares of the stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $6.38, for a total transaction of $63,436.34. Following the completion of the transaction, the director directly owned 32,474 shares in the company, valued at approximately $207,184.12. This trade represents a 23.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.80% of the stock is owned by corporate insiders.

Bed Bath & Beyond Profile

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.