Great Lakes Advisors LLC Invests $2.09 Million in Bed Bath & Beyond, Inc. $BBBY

Great Lakes Advisors LLC purchased a new stake in Bed Bath & Beyond, Inc. (NYSE:BBBY) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 360,484 shares of the company’s stock, valued at approximately $2,087,000. Great Lakes Advisors LLC owned approximately 0.49% of Bed Bath & Beyond at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in BBBY. Nuveen LLC bought a new stake in shares of Bed Bath & Beyond in the 4th quarter worth about $12,594,000. Geode Capital Management LLC acquired a new stake in Bed Bath & Beyond during the fourth quarter valued at approximately $8,890,000. State Street Corp bought a new position in Bed Bath & Beyond during the 4th quarter worth approximately $7,175,000. Federated Hermes Inc. bought a new position in Bed Bath & Beyond during the 4th quarter worth approximately $4,730,000. Finally, Dimensional Fund Advisors LP bought a new stake in shares of Bed Bath & Beyond in the 4th quarter valued at approximately $3,311,000. 76.30% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Bed Bath & Beyond

In other news, Director Joanna M. Burkey sold 9,943 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $6.38, for a total transaction of $63,436.34. Following the completion of the transaction, the director directly owned 32,474 shares in the company, valued at approximately $207,184.12. The trade was a 23.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

BBBY has been the topic of several research analyst reports. Zacks Research upgraded Bed Bath & Beyond to a “hold” rating in a research note on Wednesday, June 24th. Wall Street Zen cut shares of Bed Bath & Beyond from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Wedbush raised their price target on shares of Bed Bath & Beyond from $8.00 to $10.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 23rd. Finally, Weiss Ratings raised shares of Bed Bath & Beyond from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 8th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Bed Bath & Beyond presently has a consensus rating of “Hold” and an average target price of $8.67.

Bed Bath & Beyond Stock Performance

BBBY stock opened at $4.38 on Friday. The stock’s fifty day moving average is $5.27 and its two-hundred day moving average is $5.24. The stock has a market capitalization of $417.07 million, a price-to-earnings ratio of -3.84 and a beta of 2.89. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.59 and a current ratio of 0.76. Bed Bath & Beyond, Inc. has a 1 year low of $4.18 and a 1 year high of $12.65.

Bed Bath & Beyond (NYSE:BBBY) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.23). Bed Bath & Beyond had a negative return on equity of 37.60% and a negative net margin of 7.13%.The firm had revenue of $361.16 million during the quarter. During the same quarter in the previous year, the business posted ($0.34) earnings per share. On average, research analysts predict that Bed Bath & Beyond, Inc. will post -0.92 EPS for the current year.

About Bed Bath & Beyond

Bed Bath & Beyond Inc (NYSE:BBBY) was a leading home goods retailer offering a broad assortment of domestics merchandise, including bed linens, bath accessories, kitchenware, home décor and small appliances. Through its flagship Bed Bath & Beyond stores and affiliated banners, the company provided both in-store and online shopping experiences, catering to a wide range of household needs from everyday essentials to specialized nursery and wellness products.

The company was founded in 1971 by Leonard Feinstein and Warren Eisenberg and was headquartered in Union, New Jersey.