Institute for Wealth Management LLC. acquired a new position in shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,528 shares of the retailer’s stock, valued at approximately $219,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vantage Consulting Group Inc acquired a new position in shares of Bed Bath & Beyond in the 4th quarter worth approximately $25,000. Signaturefd LLC bought a new position in Bed Bath & Beyond in the 4th quarter valued at $43,000. WASHINGTON TRUST Co acquired a new position in Bed Bath & Beyond in the first quarter worth $44,000. Twin Tree Management LP bought a new stake in shares of Bed Bath & Beyond during the fourth quarter worth $60,000. Finally, Daiwa Securities Group Inc. acquired a new stake in shares of Bed Bath & Beyond in the fourth quarter valued at $75,000.
In other news, CFO Gustavo Arnal acquired 20,000 shares of the stock in a transaction that occurred on Friday, April 16th. The stock was acquired at an average price of $25.45 per share, for a total transaction of $509,000.00. Following the transaction, the chief financial officer now directly owns 300,769 shares in the company, valued at $7,654,571.05. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joshua Schechter acquired 3,000 shares of the company’s stock in a transaction that occurred on Friday, April 16th. The shares were acquired at an average cost of $25.02 per share, for a total transaction of $75,060.00. Following the purchase, the director now directly owns 24,016 shares in the company, valued at approximately $600,880.32. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 23,500 shares of company stock worth $596,835. Company insiders own 1.30% of the company’s stock.
Bed Bath & Beyond (NASDAQ:BBBY) last announced its quarterly earnings results on Tuesday, April 13th. The retailer reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.09. The company had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.65 billion. Bed Bath & Beyond had a negative return on equity of 7.80% and a negative net margin of 2.32%. Bed Bath & Beyond’s revenue was down 15.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.38 EPS. Sell-side analysts predict that Bed Bath & Beyond Inc. will post -1.1 earnings per share for the current year.
A number of equities research analysts have commented on BBBY shares. Robert W. Baird lowered shares of Bed Bath & Beyond from an “outperform” rating to a “neutral” rating and increased their price objective for the stock from $30.00 to $37.00 in a report on Wednesday, January 27th. UBS Group cut shares of Bed Bath & Beyond from a “neutral” rating to a “sell” rating and set a $20.00 price target on the stock. in a research note on Tuesday, January 26th. KeyCorp dropped their price objective on shares of Bed Bath & Beyond from $24.00 to $22.00 and set an “underweight” rating for the company in a research report on Wednesday, April 21st. Morgan Stanley increased their price objective on Bed Bath & Beyond from $24.00 to $25.00 and gave the company an “equal weight” rating in a research report on Thursday, April 29th. Finally, JPMorgan Chase & Co. lifted their target price on Bed Bath & Beyond from $23.00 to $29.00 and gave the company a “neutral” rating in a research note on Monday, April 19th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $26.00.
Bed Bath & Beyond Company Profile
Bed Bath & Beyond Inc, together with its subsidiaries, operates a chain of retail stores. It operates through two segments, North American Retail and Institutional Sales. The company 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.
Further Reading: Debt-To-Equity Ratio
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