Renaissance Technologies LLC Has $4.83 Million Stake in Bed Bath & Beyond, Inc. $BBBY

Renaissance Technologies LLC grew its position in Bed Bath & Beyond, Inc. (NYSE:BBBYFree Report) by 95.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,041,100 shares of the company’s stock after purchasing an additional 507,922 shares during the period. Renaissance Technologies LLC owned approximately 1.41% of Bed Bath & Beyond worth $4,831,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Headlands Technologies LLC acquired a new stake in Bed Bath & Beyond in the 2nd quarter valued at approximately $33,000. Public Employees Retirement System of Ohio acquired a new position in Bed Bath & Beyond during the 4th quarter worth approximately $37,000. New York State Common Retirement Fund bought a new position in shares of Bed Bath & Beyond during the 4th quarter worth approximately $47,000. Stockman Wealth Management Inc. bought a new position in shares of Bed Bath & Beyond during the 4th quarter worth approximately $55,000. Finally, ExodusPoint Capital Management LP acquired a new stake in shares of Bed Bath & Beyond in the fourth quarter valued at approximately $63,000. 76.30% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Bed Bath & Beyond

In related news, Director Joanna M. Burkey sold 9,943 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $6.38, for a total value of $63,436.34. Following the completion of the sale, the director directly owned 32,474 shares in the company, valued at approximately $207,184.12. This trade represents a 23.44% decrease in their position. The sale was disclosed in a document filed 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 Analysts Forecast Growth

BBBY has been the subject of several recent research reports. Zacks Research upgraded shares of Bed Bath & Beyond to a “hold” rating in a report on Wednesday, June 24th. Weiss Ratings upgraded shares of Bed Bath & Beyond from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, July 8th. Finally, Wedbush lifted their target price on Bed Bath & Beyond from $8.00 to $10.00 and gave the company an “outperform” rating in a research report on Tuesday, June 23rd. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $8.67.

Check Out Our Latest Stock Report on Bed Bath & Beyond

Bed Bath & Beyond Price Performance

Shares of BBBY opened at $4.50 on Friday. The company has a current ratio of 0.76, a quick ratio of 1.03 and a debt-to-equity ratio of 0.06. The company’s fifty day simple moving average is $5.62 and its 200 day simple moving average is $5.41. Bed Bath & Beyond, Inc. has a 1-year low of $4.26 and a 1-year high of $12.65. The company has a market cap of $332.36 million, a price-to-earnings ratio of -3.94 and a beta of 2.89.

Bed Bath & Beyond (NYSE:BBBYGet Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.23). Bed Bath & Beyond had a negative net margin of 7.13% and a negative return on equity of 37.60%. The firm had revenue of $361.16 million during the quarter. During the same period in the prior year, the company posted ($0.34) EPS. On average, research analysts forecast that Bed Bath & Beyond, Inc. will post -0.79 earnings per share for the current fiscal year.

Bed Bath & Beyond Company Profile

(Free Report)

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.

See Also

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

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