Caitong International Asset Management Co. Ltd Increases Position in Bed Bath & Beyond, Inc. $BBBY

Caitong International Asset Management Co. Ltd boosted its holdings in shares of Bed Bath & Beyond, Inc. (NYSE:BBBY) by 33.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,359 shares of the company’s stock after acquiring an additional 1,828 shares during the period. Caitong International Asset Management Co. Ltd’s holdings in Bed Bath & Beyond were worth $51,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Platform Technology Partners purchased a new stake in shares of Bed Bath & Beyond in the 1st quarter valued at approximately $59,000. CWM LLC increased its holdings in shares of Bed Bath & Beyond by 188.8% during the 1st quarter. CWM LLC now owns 10,745 shares of the company’s stock worth $62,000 after buying an additional 7,025 shares during the last quarter. OLD Mission Capital LLC acquired a new stake in shares of Bed Bath & Beyond during the 1st quarter worth approximately $67,000. Haven Private LLC acquired a new stake in shares of Bed Bath & Beyond during the 1st quarter worth approximately $71,000. Finally, Ieq Capital LLC acquired a new stake in shares of Bed Bath & Beyond during the 1st quarter worth approximately $103,000. Hedge funds and other institutional investors own 76.30% of the company’s stock.

Analyst Upgrades and Downgrades

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

Bed Bath & Beyond Stock Performance

NYSE:BBBY 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 company has a 50 day moving average price of $9.51 and a 200 day moving average price of $7.60. Bed Bath & Beyond, Inc. has a fifty-two week low of $3.54 and a fifty-two week high of $12.65.

Bed Bath & Beyond (NYSE:BBBY) last posted its quarterly earnings data on Monday, July 28th. The company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.15. The firm 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 firm’s quarterly revenue was down 29.1% on a year-over-year basis. During the same quarter last year, the company posted ($0.76) EPS. Research analysts forecast that Bed Bath & Beyond, Inc. will post -3.75 earnings per share for the current fiscal year.

About Bed Bath & Beyond

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.