New York State Teachers Retirement System Sells 4,000 Shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY)

New York State Teachers Retirement System trimmed its position in shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY – Get Rating) by 2.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 139,540 shares of the retailer’s stock after selling 4,000 shares during the period. New York State Teachers Retirement System owned 0.17% of Bed Bath & Beyond worth $850,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of BBBY. Newbridge Financial Services Group Inc. acquired a new stake in shares of Bed Bath & Beyond during the third quarter worth $30,000. KBC Group NV purchased a new position in shares of Bed Bath & Beyond during the 2nd quarter valued at $45,000. Transcend Capital Advisors LLC purchased a new position in shares of Bed Bath & Beyond during the 3rd quarter valued at $62,000. OLD National Bancorp IN purchased a new stake in Bed Bath & Beyond during the 2nd quarter worth about $65,000. Finally, XR Securities LLC purchased a new stake in shares of Bed Bath & Beyond in the 2nd quarter valued at about $69,000. Institutional investors own 64.16% of the company’s stock.

Bed Bath & Beyond Stock Down 3.8 %

Bed Bath & Beyond stock opened at $3.79 on Friday. The business has a fifty day moving average of $3.08 and a two-hundred day moving average of $5.73. The firm has a market cap of $304.58 million, a P/E ratio of -0.25 and a beta of 1.52. Bed Bath & Beyond Inc. has a twelve month low of $1.27 and a twelve month high of $30.06.

Bed Bath & Beyond (NASDAQ:BBBY – Get Rating) last issued its quarterly earnings data on Tuesday, January 10th. The retailer reported ($3.65) 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 business 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 company posted ($0.25) EPS. The business’s revenue for the quarter was down 33.0% on a year-over-year basis. Equities analysts expect that Bed Bath & Beyond Inc. will post -10.8 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on BBBY shares. UBS Group reduced their price objective on Bed Bath & Beyond from $3.50 to $1.50 and set a “sell” rating on the stock in a research report on Friday, January 6th. Odeon Capital Group upgraded Bed Bath & Beyond from a “sell” rating to a “hold” rating and set a $7.50 target price for the company in a research note on Friday, September 30th. Wells Fargo & Company lowered their price objective on 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. Finally, Telsey Advisory Group lowered their price objective on 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. Twelve analysts have rated the stock with a sell rating and one has issued a hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $4.00.

About Bed Bath & Beyond

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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.