Goldman Sachs Group Inc. Reduces Position in Bed Bath & Beyond, Inc. $BBBY

Goldman Sachs Group Inc. lessened its stake in shares of Bed Bath & Beyond, Inc. (NYSE:BBBY) by 30.5% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 767,704 shares of the company’s stock after selling 336,398 shares during the period. Goldman Sachs Group Inc. owned 1.33% of Bed Bath & Beyond worth $4,453,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd increased its holdings in Bed Bath & Beyond by 104.2% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 5,531 shares of the company’s stock valued at $32,000 after acquiring an additional 2,823 shares during the last quarter. Platform Technology Partners purchased a new position in shares of Bed Bath & Beyond during the 1st quarter worth about $59,000. CWM LLC raised its holdings in shares of Bed Bath & Beyond by 188.8% in the first quarter. CWM LLC now owns 10,745 shares of the company’s stock worth $62,000 after buying an additional 7,025 shares during the period. OLD Mission Capital LLC bought a new position in Bed Bath & Beyond in the 1st quarter valued at $67,000. Finally, Focus Partners Wealth bought a new position in shares of Bed Bath & Beyond in the fourth quarter worth about $71,000. 76.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BBBY. Wall Street Zen raised shares of Bed Bath & Beyond from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Needham & Company LLC restated a “hold” rating on shares of Bed Bath & Beyond in a report on Tuesday, July 29th. Finally, Wedbush boosted their price objective on shares of Bed Bath & Beyond from $10.00 to $13.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 22nd. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $8.86.

Bed Bath & Beyond Trading Down 0.4%

Shares of BBBY opened at $9.77 on Thursday. The firm has a market cap of $560.90 million, a P/E ratio of -2.40 and a beta of 2.77. Bed Bath & Beyond, Inc. has a 12 month low of $3.54 and a 12 month high of $11.67. The stock’s 50 day moving average is $9.22 and its two-hundred day moving average is $6.78.

Bed Bath & Beyond (NYSE:BBBY) last announced its earnings results on Monday, July 28th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.15. The firm had revenue of $282.25 million for the quarter, compared to analyst estimates of $250.37 million. Bed Bath & Beyond had a negative return on equity of 78.27% and a negative net margin of 17.86%.The business’s revenue was down 29.1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.76) EPS. Equities research analysts forecast that Bed Bath & Beyond, Inc. will post -3.75 EPS for the current year.

About Bed Bath & Beyond

Beyond, Inc operates as an online retailer of furniture and home furnishings products in the United States and Canada. The company offers furniture, bedding and bath, patio and outdoor gear, area rugs, tabletop and cookware, décor, storage and organization, small appliances, home improvement, and other products under the Bed Bath & Beyond brand.