Coatue Management LLC Has $19.48 Million Stock Holdings in Bed Bath & Beyond Inc. (NASDAQ:BBBY)

Share on StockTwits

Coatue Management LLC raised its stake in Bed Bath & Beyond Inc. (NASDAQ:BBBY) by 1.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,837,365 shares of the retailer’s stock after acquiring an additional 18,382 shares during the period. Coatue Management LLC owned approximately 1.46% of Bed Bath & Beyond worth $19,476,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BBBY. First Trust Advisors LP raised its holdings in Bed Bath & Beyond by 14.1% in the 1st quarter. First Trust Advisors LP now owns 270,168 shares of the retailer’s stock valued at $4,590,000 after acquiring an additional 33,307 shares in the last quarter. Texas Permanent School Fund increased its stake in shares of Bed Bath & Beyond by 24.5% in the 1st quarter. Texas Permanent School Fund now owns 107,805 shares of the retailer’s stock valued at $454,000 after purchasing an additional 21,233 shares during the last quarter. New York State Teachers Retirement System increased its stake in shares of Bed Bath & Beyond by 8.7% in the 1st quarter. New York State Teachers Retirement System now owns 198,214 shares of the retailer’s stock valued at $834,000 after purchasing an additional 15,800 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Bed Bath & Beyond by 221.4% in the 1st quarter. SG Americas Securities LLC now owns 360,320 shares of the retailer’s stock valued at $1,517,000 after purchasing an additional 248,214 shares during the last quarter. Finally, Aperio Group LLC increased its stake in shares of Bed Bath & Beyond by 6.7% in the 1st quarter. Aperio Group LLC now owns 94,438 shares of the retailer’s stock valued at $398,000 after purchasing an additional 5,906 shares during the last quarter.

Shares of NASDAQ:BBBY traded down $0.08 during midday trading on Friday, reaching $11.75. The company’s stock had a trading volume of 6,090,681 shares, compared to its average volume of 6,759,226. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of -2.67 and a beta of 2.53. The company has a debt-to-equity ratio of 2.41, a quick ratio of 0.64 and a current ratio of 1.55. The firm has a 50 day moving average price of $11.34 and a two-hundred day moving average price of $8.54. Bed Bath & Beyond Inc. has a fifty-two week low of $3.43 and a fifty-two week high of $17.79.

Bed Bath & Beyond (NASDAQ:BBBY) last posted its quarterly earnings results on Wednesday, July 8th. The retailer reported ($1.96) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.42) by ($0.54). Bed Bath & Beyond had a negative return on equity of 11.52% and a negative net margin of 5.51%. The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same period last year, the company posted $0.12 earnings per share. The firm’s quarterly revenue was down 49.2% compared to the same quarter last year. As a group, research analysts anticipate that Bed Bath & Beyond Inc. will post -2.46 earnings per share for the current year.

Several equities analysts have recently issued reports on BBBY shares. UBS Group lifted their price target on Bed Bath & Beyond from $5.00 to $10.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Raymond James decreased their price target on Bed Bath & Beyond from $13.00 to $12.00 and set a “strong-buy” rating on the stock in a research note on Thursday, July 9th. Morgan Stanley boosted their price objective on Bed Bath & Beyond from $3.00 to $6.00 and gave the stock an “underweight” rating in a research report on Thursday, July 9th. Wedbush restated a “positive” rating and set a $15.00 price objective on shares of Bed Bath & Beyond in a research report on Tuesday, August 11th. Finally, Bank of America boosted their price objective on Bed Bath & Beyond from $12.50 to $14.50 and gave the stock a “buy” rating in a research report on Friday, June 26th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. Bed Bath & Beyond currently has a consensus rating of “Hold” and an average target price of $10.43.

In other news, Director Sue Gove purchased 34,000 shares of the company’s stock in a transaction that occurred on Monday, July 13th. The shares were acquired at an average cost of $7.89 per share, with a total value of $268,260.00. Following the purchase, the director now owns 42,342 shares in the company, valued at $334,078.38. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ann Yerger acquired 6,000 shares of the firm’s stock in a transaction on Friday, July 10th. The shares were bought at an average cost of $8.29 per share, with a total value of $49,740.00. Following the completion of the acquisition, the director now directly owns 17,371 shares in the company, valued at approximately $144,005.59. The disclosure for this purchase can be found here. 1.30% of the stock is currently owned by corporate insiders.

About Bed Bath & Beyond

Bed Bath & Beyond Inc, together with its subsidiaries, operates a chain of retail stores. It sells a range of domestics merchandise, including bed linens and related items, bath items, and kitchen textiles; and home furnishings, such as kitchen and tabletop items, fine tabletop, basic housewares, general home furnishings, consumables, and various juvenile products.

Further Reading: Inverted Yield Curve

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

Receive News & Ratings for Bed Bath & Beyond Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bed Bath & Beyond and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply