ProShare Advisors LLC Makes New $3.29 Million Investment in Bed Bath & Beyond, Inc. $BBBY

ProShare Advisors LLC bought a new stake in Bed Bath & Beyond, Inc. (NYSE:BBBY) during the 4th quarter, HoldingsChannel reports. The fund bought 602,599 shares of the company’s stock, valued at approximately $3,290,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in BBBY. Able Wealth Management LLC bought a new position in Bed Bath & Beyond in the fourth quarter valued at approximately $4,612,000. WMG Financial Advisors LLC acquired a new position in Bed Bath & Beyond during the fourth quarter valued at approximately $507,000. Patriot Financial Group Insurance Agency LLC bought a new stake in Bed Bath & Beyond during the fourth quarter worth $125,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Bed Bath & Beyond by 30.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 66,512 shares of the company’s stock worth $386,000 after purchasing an additional 15,707 shares during the last quarter. Finally, Sei Investments Co. acquired a new stake in shares of Bed Bath & Beyond in the 2nd quarter valued at $378,000. 76.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on BBBY shares. Piper Sandler set a $8.00 price target on Bed Bath & Beyond and gave the company a “neutral” rating in a research note on Tuesday, February 24th. Weiss Ratings lowered Bed Bath & Beyond from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 4th. Finally, Wedbush reiterated an “outperform” rating and issued a $8.00 target price (up from $7.00) on shares of Bed Bath & Beyond in a research report on Tuesday, April 28th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Bed Bath & Beyond presently has a consensus rating of “Hold” and a consensus price target of $8.00.

Insider Buying and Selling

In other news, Director Joseph J. Tabacco, Jr. purchased 20,000 shares of the business’s stock in a transaction dated Tuesday, March 10th. The shares were purchased at an average cost of $5.11 per share, with a total value of $102,200.00. Following the completion of the purchase, the director owned 167,209 shares of the company’s stock, valued at $854,437.99. This trade represents a 13.59% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 1.80% of the company’s stock.

Bed Bath & Beyond Stock Performance

Shares of NYSE:BBBY opened at $5.60 on Monday. Bed Bath & Beyond, Inc. has a 52-week low of $4.26 and a 52-week high of $12.65. The company has a market capitalization of $414.29 million, a PE ratio of -5.90 and a beta of 2.81. The company has a fifty day moving average of $4.96 and a 200-day moving average of $5.62.

Bed Bath & Beyond (NYSE:BBBY) last released its quarterly earnings data on Monday, April 27th. The company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.06. The company had revenue of $248.00 million for the quarter. Bed Bath & Beyond had a negative return on equity of 27.60% and a negative net margin of 5.76%.

Bed Bath & Beyond Company Profile

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.