Strs Ohio Sells 6,400 Shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY)

Strs Ohio reduced its stake in shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY – Get Rating) by 7.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 80,200 shares of the retailer’s stock after selling 6,400 shares during the period. Strs Ohio owned approximately 0.10% of Bed Bath & Beyond worth $488,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Federated Hermes Inc. bought a new stake in shares of Bed Bath & Beyond during the 2nd quarter worth $7,260,000. Charles Schwab Investment Management Inc. lifted its stake in Bed Bath & Beyond by 5.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,137,993 shares of the retailer’s stock worth $25,639,000 after purchasing an additional 58,262 shares during the last quarter. Bank of America Corp DE lifted its stake in Bed Bath & Beyond by 217.2% in the first quarter. Bank of America Corp DE now owns 783,717 shares of the retailer’s stock worth $17,658,000 after purchasing an additional 536,654 shares during the last quarter. Invesco Ltd. lifted its stake in Bed Bath & Beyond by 16.3% in the first quarter. Invesco Ltd. now owns 767,362 shares of the retailer’s stock worth $17,288,000 after purchasing an additional 107,739 shares during the last quarter. Finally, Analyst IMS Investment Management Services Ltd. lifted its stake in Bed Bath & Beyond by 23.3% in the second quarter. Analyst IMS Investment Management Services Ltd. now owns 756,670 shares of the retailer’s stock worth $3,760,000 after purchasing an additional 142,750 shares during the last quarter. 64.16% of the stock is owned by institutional investors.

Bed Bath & Beyond Price Performance

Shares of NASDAQ BBBY opened at $3.94 on Thursday. Bed Bath & Beyond Inc. has a 1 year low of $1.27 and a 1 year high of $30.06. The company’s 50-day moving average is $3.08 and its 200 day moving average is $5.74. The stock has a market capitalization of $316.63 million, a P/E ratio of -0.26 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 (EPS) for the quarter, missing the consensus estimate of ($2.81) by ($0.84). Bed Bath & Beyond had a negative net margin of 20.54% and a negative return on equity of 90.91%. The company had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the prior year, the firm earned ($0.25) EPS. Bed Bath & Beyond’s quarterly revenue was down 33.0% compared to the same quarter last year. Research analysts anticipate that Bed Bath & Beyond Inc. will post -10.8 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have weighed in on BBBY shares. Odeon Capital Group raised shares of Bed Bath & Beyond from a “sell” rating to a “hold” rating and set a $7.50 price target for the company in a research note on Friday, September 30th. Wells Fargo & Company lowered their price target on shares of Bed Bath & Beyond from $3.00 to $2.00 and set an “underweight” rating for the company in a research note on Thursday, January 5th. 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 note on Thursday, January 5th. Finally, UBS Group lowered their price target on shares of Bed Bath & Beyond from $3.50 to $1.50 and set a “sell” rating for the company in a research note on Friday, January 6th. Twelve investment analysts have rated the stock with a sell rating and one has given a hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $4.00.

Bed Bath & Beyond Profile

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Bed Bath & Beyond Inc, together with its subsidiaries, operates a chain of retail stores. It sells a range of domestics merchandise, including bed linens and related items, bath items, and kitchen textiles; and home furnishings, such as kitchen and tabletop items, fine tabletop, basic housewares, general home furnishings, consumables, and various juvenile products.