Fintel reports that BlackRock has filed a 13G/A form with the SEC disclosing ownership of 6.24MM shares of Bed Bath & Beyond Inc. (BBBY). This represents 1.5% of the company.
In their previous filing dated January 26, 2023 they reported 12.33MM shares and 14.00% of the company, a decrease in shares of 49.41% and a decrease in total ownership of 12.50% (calculated as current – previous percent ownership).
Analyst Price Forecast Suggests 346.31% Upside
As of April 6, 2023, the average one-year price target for Bed Bath & Beyond is $1.50. The forecasts range from a low of $0.10 to a high of $4.20. The average price target represents an increase of 346.31% from its latest reported closing price of $0.34.
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The projected annual revenue for Bed Bath & Beyond is $5,824MM, a decrease of 6.23%. The projected annual non-GAAP EPS is -$4.87.
What is the Fund Sentiment?
There are 420 funds or institutions reporting positions in Bed Bath & Beyond. This is a decrease of 39 owner(s) or 8.50% in the last quarter. Average portfolio weight of all funds dedicated to BBBY is 0.04%, a decrease of 18.74%. Total shares owned by institutions increased in the last three months by 11.41% to 57,800K shares. The put/call ratio of BBBY is 0.47, indicating a bullish outlook.
What are Other Shareholders Doing?
SMLE – Xtrackers S&P SmallCap 600 ESG ETF holds 1K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 1K shares, representing an increase of 2.23%. The firm decreased its portfolio allocation in BBBY by 69.08% over the last quarter.
Bank Of America holds 557K shares representing 0.13% ownership of the company. In it’s prior filing, the firm reported owning 883K shares, representing a decrease of 58.38%. The firm decreased its portfolio allocation in BBBY by 75.19% over the last quarter.
NCGFX – New Covenant Growth Fund holds 1K shares representing 0.00% ownership of the company. No change in the last quarter.
Profunds – Profund Vp Small-cap Value holds 2K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 3K shares, representing a decrease of 42.12%. The firm decreased its portfolio allocation in BBBY by 71.43% over the last quarter.
Rockefeller Capital Management holds 0K shares representing 0.00% ownership of the company. No change in the last quarter.
Bed, Bath & Beyond Background Information
(This description is provided by the company.)
Bed Bath & Beyond Inc. and subsidiaries (the ‘Company’) is an omnichannel retailer that makes it easy for its customers to feel at home. The Company sells a wide assortment of merchandise in the Home, Baby, Beauty and Wellness markets. Additionally, the Company is a partner in a joint venture which operates retail stores in Mexico under the name Bed Bath & Beyond.
This article originally appeared on Fintel
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