Man Group plc Makes New Investment in Bed Bath & Beyond, Inc. $BBBY

Man Group plc bought a new position in shares of Bed Bath & Beyond, Inc. (NYSE:BBBY) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 138,296 shares of the company’s stock, valued at approximately $801,000. Man Group plc owned approximately 0.15% of Bed Bath & Beyond at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in BBBY. Headlands Technologies LLC purchased a new position in shares of Bed Bath & Beyond in the second quarter worth $33,000. Public Employees Retirement System of Ohio purchased a new position in Bed Bath & Beyond during the fourth quarter valued at $37,000. Legal & General Group Plc bought a new stake in Bed Bath & Beyond in the 2nd quarter valued at $42,000. New York State Common Retirement Fund purchased a new stake in Bed Bath & Beyond in the 4th quarter worth $47,000. Finally, ExodusPoint Capital Management LP purchased a new stake in Bed Bath & Beyond in the 4th quarter worth $63,000. 76.30% of the stock is owned by hedge funds and other institutional investors.

Bed Bath & Beyond Stock Up 0.6%

Shares of NYSE:BBBY opened at $4.38 on Friday. The firm has a market capitalization of $417.07 million, a PE ratio of -3.84 and a beta of 2.89. The business has a 50 day simple moving average of $4.95 and a two-hundred day simple moving average of $5.17. Bed Bath & Beyond, Inc. has a 1 year low of $4.18 and a 1 year high of $12.65. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.76 and a quick ratio of 0.59.

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Wedbush increased 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. Weiss Ratings upgraded shares of Bed Bath & Beyond from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 8th. Wall Street Zen downgraded shares of Bed Bath & Beyond from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Finally, Zacks Research raised Bed Bath & Beyond to a “hold” rating in a research note on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $8.67.

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.