23,735 Shares in Bed Bath & Beyond, Inc. $BBBY Acquired by Claro Advisors LLC

Claro Advisors LLC bought a new position in shares of Bed Bath & Beyond, Inc. (NYSE:BBBY) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 23,735 shares of the company’s stock, valued at approximately $163,000.

A number of other institutional investors and hedge funds have also made changes to their positions in BBBY. Platform Technology Partners purchased a new stake in shares of Bed Bath & Beyond during the 1st quarter worth $59,000. CWM LLC grew its stake in Bed Bath & Beyond by 188.8% in the first quarter. CWM LLC now owns 10,745 shares of the company’s stock valued at $62,000 after purchasing an additional 7,025 shares during the last quarter. WMG Financial Advisors LLC bought a new position in Bed Bath & Beyond in the first quarter worth about $107,000. Wedbush Securities Inc. lifted its position in shares of Bed Bath & Beyond by 18.5% during the first quarter. Wedbush Securities Inc. now owns 156,483 shares of the company’s stock valued at $908,000 after buying an additional 24,460 shares during the last quarter. Finally, Avantax Advisory Services Inc. boosted its holdings in shares of Bed Bath & Beyond by 21.5% in the 1st quarter. Avantax Advisory Services Inc. now owns 18,655 shares of the company’s stock valued at $108,000 after buying an additional 3,304 shares in the last quarter. 76.30% of the stock is currently owned by hedge funds and other institutional investors.

Bed Bath & Beyond Price Performance

NYSE BBBY opened at $6.72 on Friday. The company has a market cap of $462.30 million, a price-to-earnings ratio of -2.39 and a beta of 2.70. The stock’s fifty day moving average price is $9.22 and its 200 day moving average price is $7.83. Bed Bath & Beyond, Inc. has a 1 year low of $3.54 and a 1 year high of $12.65.

Bed Bath & Beyond (NYSE:BBBY) last issued its quarterly earnings results on Monday, October 27th. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.19. The company had revenue of $257.19 million during the quarter, compared to analysts’ expectations of $258.35 million. Bed Bath & Beyond had a negative return on equity of 57.26% and a negative net margin of 13.50%. Research analysts expect that Bed Bath & Beyond, Inc. will post -3.75 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on BBBY shares. Needham & Company LLC reiterated a “hold” rating on shares of Bed Bath & Beyond in a research note on Tuesday, July 29th. Wedbush reaffirmed an “outperform” rating and issued a $13.00 price target on shares of Bed Bath & Beyond in a report on Tuesday, October 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Bed Bath & Beyond in a report on Wednesday, October 8th. Barclays set a $8.00 target price on Bed Bath & Beyond and gave the stock an “equal weight” rating in a research note on Tuesday, October 28th. Finally, Wall Street Zen upgraded Bed Bath & Beyond from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $10.20.

Bed Bath & Beyond Company 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.