Commonwealth Equity Services LLC Decreases Holdings in Bed Bath & Beyond Inc. (NASDAQ:BBBY)

Commonwealth Equity Services LLC decreased its position in shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY) by 51.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,966 shares of the retailer’s stock after selling 11,583 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Bed Bath & Beyond were worth $319,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Koshinski Asset Management Inc. purchased a new stake in shares of Bed Bath & Beyond during the 4th quarter worth approximately $284,000. Vantage Consulting Group Inc purchased a new stake in Bed Bath & Beyond in the 4th quarter valued at approximately $25,000. WASHINGTON TRUST Co purchased a new stake in Bed Bath & Beyond in the 1st quarter valued at approximately $44,000. Signaturefd LLC purchased a new stake in Bed Bath & Beyond in the 4th quarter valued at approximately $43,000. Finally, Twin Tree Management LP purchased a new stake in Bed Bath & Beyond in the 4th quarter valued at approximately $60,000. 95.57% of the stock is currently owned by institutional investors and hedge funds.

In other news, CFO Gustavo Arnal purchased 20,000 shares of the company’s stock in a transaction on Friday, April 16th. The shares were bought at an average price of $25.45 per share, for a total transaction of $509,000.00. Following the completion of the purchase, the chief financial officer now owns 300,769 shares of the company’s stock, valued at $7,654,571.05. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Joshua Schechter purchased 3,000 shares of the company’s stock in a transaction on Friday, April 16th. The stock was purchased at an average price of $25.02 per share, for a total transaction of $75,060.00. Following the purchase, the director now directly owns 24,016 shares of the company’s stock, valued at approximately $600,880.32. The disclosure for this purchase can be found here. Insiders acquired 23,500 shares of company stock worth $596,835 in the last three months. 1.00% of the stock is currently owned by corporate insiders.

A number of equities research analysts recently issued reports on the company. Morgan Stanley upped their target price on Bed Bath & Beyond from $24.00 to $25.00 and gave the company an “equal weight” rating in a research note on Friday, April 23rd. JPMorgan Chase & Co. increased their price target on Bed Bath & Beyond from $23.00 to $29.00 and gave the stock a “neutral” rating in a research note on Monday, April 19th. Telsey Advisory Group reduced their price target on Bed Bath & Beyond from $40.00 to $30.00 and set a “market perform” rating on the stock in a research note on Thursday, April 15th. KeyCorp reduced their price target on Bed Bath & Beyond from $24.00 to $22.00 and set an “underweight” rating on the stock in a research note on Thursday, April 15th. Finally, Wedbush reduced their price target on Bed Bath & Beyond from $33.00 to $27.00 and set a “neutral” rating on the stock in a research note on Thursday, April 15th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $26.00.

Shares of Bed Bath & Beyond stock opened at $31.53 on Friday. The firm’s 50-day simple moving average is $27.28. The company has a quick ratio of 0.85, a current ratio of 1.58 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $3.36 billion, a P/E ratio of -25.84 and a beta of 1.83. Bed Bath & Beyond Inc. has a 1-year low of $7.30 and a 1-year high of $53.90.

Bed Bath & Beyond (NASDAQ:BBBY) last issued its quarterly earnings results on Wednesday, April 14th. The retailer reported $0.40 EPS for the quarter, topping the consensus estimate of $0.31 by $0.09. Bed Bath & Beyond had a negative net margin of 1.63% and a negative return on equity of 8.44%. The business had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.65 billion. During the same quarter last year, the company posted $0.38 earnings per share. The company’s quarterly revenue was down 15.7% compared to the same quarter last year. As a group, sell-side analysts expect that Bed Bath & Beyond Inc. will post 1.5 earnings per share for the current year.

About Bed Bath & Beyond

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.

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Institutional Ownership by Quarter for Bed Bath & Beyond (NASDAQ:BBBY)

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