Marshall Wace LLP Makes New $4.87 Million Investment in Bed Bath & Beyond Inc. (NASDAQ:BBBY)

Marshall Wace LLP bought a new stake in Bed Bath & Beyond Inc. (NASDAQ:BBBY – Get Rating) during the 3rd quarter, Holdings Channel reports. The fund bought 799,798 shares of the retailer’s stock, valued at approximately $4,870,000.

Several other hedge funds also recently modified their holdings of BBBY. Cetera Advisor Networks LLC bought a new position in Bed Bath & Beyond in the first quarter valued at approximately $231,000. PNC Financial Services Group Inc. grew its stake in shares of Bed Bath & Beyond by 16.9% during the first quarter. PNC Financial Services Group Inc. now owns 7,652 shares of the retailer’s stock worth $172,000 after purchasing an additional 1,109 shares during the period. Natixis Advisors L.P. bought a new stake in Bed Bath & Beyond in the first quarter valued at about $347,000. MetLife Investment Management LLC lifted its stake in Bed Bath & Beyond by 41.6% in the first quarter. MetLife Investment Management LLC now owns 50,436 shares of the retailer’s stock valued at $1,136,000 after buying an additional 14,807 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Bed Bath & Beyond by 8.7% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 83,053 shares of the retailer’s stock worth $1,871,000 after buying an additional 6,672 shares during the last quarter. Institutional investors own 64.16% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on BBBY. UBS Group lowered their price target on 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. Wells Fargo & Company lowered their target price 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 cut their target price on shares of Bed Bath & Beyond from $3.00 to $2.00 and set an “underperform” rating on the stock in a report on Thursday, January 5th. Odeon Capital Group lowered shares of Bed Bath & Beyond from a “hold” rating to a “sell” rating in a report on Tuesday, February 7th. Finally, Wedbush reaffirmed an “underperform” rating on shares of Bed Bath & Beyond in a research note on Tuesday, February 7th. Thirteen equities research analysts have rated the stock with a sell rating, According to MarketBeat.com, Bed Bath & Beyond has an average rating of “Reduce” and a consensus price target of $4.00.

Bed Bath & Beyond Price Performance

BBBY opened at $1.24 on Tuesday. The company has a market capitalization of $145.48 million, a price-to-earnings ratio of -0.08 and a beta of 1.62. The business’s 50-day moving average price is $2.46 and its two-hundred day moving average price is $4.23. Bed Bath & Beyond Inc. has a 1 year low of $1.13 and a 1 year high of $30.00.

Bed Bath & Beyond (NASDAQ:BBBY – Get Rating) last announced its earnings results on Tuesday, January 10th. The retailer reported ($3.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.36) by ($1.29). The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.34 billion. The business’s revenue was down 33.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.25) earnings per share. Sell-side analysts anticipate that Bed Bath & Beyond Inc. will post -11.71 earnings per share for the current fiscal year.

About Bed Bath & Beyond

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Bed Bath & Beyond, Inc engages in the operation of retail stores and retails domestics merchandise and home furnishings. Its products include domestic merchandise and home furnishings such as bed linens and related items, bath items, kitchen textiles, kitchen and tabletop items, fine tabletop, basic house wares, general home furnishings, and consumables.