Bed Bath & Beyond, Inc. $BBBY Shares Bought by Caitong International Asset Management Co. Ltd

Caitong International Asset Management Co. Ltd boosted its holdings in shares of Bed Bath & Beyond, Inc. (NYSE:BBBY) by 33.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,359 shares of the company’s stock after purchasing an additional 1,828 shares during the period. Caitong International Asset Management Co. Ltd’s holdings in Bed Bath & Beyond were worth $51,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Able Wealth Management LLC acquired a new position in shares of Bed Bath & Beyond in the first quarter worth about $3,913,000. Nuveen LLC acquired a new position in shares of Bed Bath & Beyond in the first quarter worth about $2,256,000. Jump Financial LLC acquired a new position in shares of Bed Bath & Beyond in the first quarter worth about $2,118,000. Wedbush Securities Inc. raised its position in shares of Bed Bath & Beyond by 18.5% in the first quarter. Wedbush Securities Inc. now owns 156,483 shares of the company’s stock worth $908,000 after acquiring an additional 24,460 shares during the period. Finally, AQR Capital Management LLC raised its position in shares of Bed Bath & Beyond by 217.4% in the first quarter. AQR Capital Management LLC now owns 131,501 shares of the company’s stock worth $763,000 after acquiring an additional 90,076 shares during the period. 76.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BBBY. Weiss Ratings reiterated a “sell (d-)” rating on shares of Bed Bath & Beyond in a research report on Friday. Needham & Company LLC reiterated a “hold” rating on shares of Bed Bath & Beyond in a research report on Tuesday, July 29th. Wedbush reiterated an “outperform” rating and issued a $13.00 price objective on shares of Bed Bath & Beyond in a research report on Tuesday, October 21st. Finally, Wall Street Zen upgraded shares of Bed Bath & Beyond from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $9.60.

Bed Bath & Beyond Stock Up 1.6%

BBBY stock opened at $8.54 on Friday. The stock has a market capitalization of $588.25 million, a P/E ratio of -2.10 and a beta of 2.76. The firm has a 50-day simple moving average of $9.51 and a 200-day simple moving average of $7.60. Bed Bath & Beyond, Inc. has a 52 week low of $3.54 and a 52 week high of $12.65.

Bed Bath & Beyond (NYSE:BBBY) last released its earnings results on Monday, July 28th. The company reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.15. The business had revenue of $282.25 million during the quarter, compared to analysts’ expectations of $250.37 million. Bed Bath & Beyond had a negative net margin of 17.86% and a negative return on equity of 78.27%. The company’s quarterly revenue was down 29.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.76) earnings per share. On average, analysts expect that Bed Bath & Beyond, Inc. will post -3.75 earnings per share for the current year.

Bed Bath & Beyond Profile

Beyond, Inc operates as an online retailer of furniture and home furnishings products in the United States and Canada. The company offers furniture, bedding and bath, patio and outdoor gear, area rugs, tabletop and cookware, décor, storage and organization, small appliances, home improvement, and other products under the Bed Bath & Beyond brand.