Accipiter Capital Management Exits Position in Bed Bath & Beyond (BBBY)

Bed Bath & Beyond (BBBY) : Accipiter Capital Management has sold out all of its stake in Bed Bath & Beyond during the most recent quarter, according to the disclosure filed by the company on Aug 15, 2016 with the SEC. The investment management company has sold out 115,669 shares of Bed Bath & Beyond which is valued at $5,335,811.

Other Hedge Funds, Including , Cubist Systematic Strategies reduced its stake in BBBY by selling 36,813 shares or 46.71% in the most recent quarter. The Hedge Fund company now holds 42,002 shares of BBBY which is valued at $1,937,552. Bed Bath & Beyond makes up approx 0.10% of Cubist Systematic Strategies’s portfolio.Riverhead Capital Management reduced its stake in BBBY by selling 201,425 shares or 40.9% in the most recent quarter. The Hedge Fund company now holds 291,071 shares of BBBY which is valued at $13,427,105. Bed Bath & Beyond makes up approx 0.22% of Riverhead Capital Management’s portfolio.Lsv Asset Management boosted its stake in BBBY in the latest quarter, The investment management firm added 101,293 additional shares and now holds a total of 737,295 shares of Bed Bath & Beyond which is valued at $33,038,189. Bed Bath & Beyond makes up approx 0.06% of Lsv Asset Management’s portfolio. Gsa Capital Partners Llp added BBBY to its portfolio by purchasing 10,045 company shares during the most recent quarter which is valued at $450,116. Bed Bath & Beyond makes up approx 0.02% of Gsa Capital Partners Llp’s portfolio.Sumitomo Mitsui Asset Management Company Ltd reduced its stake in BBBY by selling 25 shares or 0.19% in the most recent quarter. The Hedge Fund company now holds 13,192 shares of BBBY which is valued at $592,980. Bed Bath & Beyond makes up approx 0.02% of Sumitomo Mitsui Asset Management Company Ltd’s portfolio.

Bed Bath & Beyond closed down -0.48 points or -1.04% at $45.89 with 17,74,338 shares getting traded on Thursday. Post opening the session at $46.41, the shares hit an intraday low of $45.58 and an intraday high of $46.7 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Bed Bath & Beyond reported $0.80 EPS for the quarter, missing the analyst consensus estimate by $ -0.06 based on the information available during the earnings call on Jun 22, 2016. Analyst had a consensus of $0.86. The company had revenue of $2738.08 million for the quarter, compared to analysts expectations of $2777.22 million. During the same quarter in the previous year, the company posted $0.93 EPS.

Many Wall Street Analysts have commented on Bed Bath & Beyond. Shares were Reiterated by Telsey Advisory Group on Jun 23, 2016 to “Market Perform” and Lowered the Price Target to $ 45 from a previous price target of $50 .Bed Bath & Beyond was Initiated by Longbow to “Neutral” on Jun 16, 2016. Topeka Capital Markets Initiated Bed Bath & Beyond on May 24, 2016 to “Sell”, Price Target of the shares are set at $37.

Bed Bath & Beyond Inc. and subsidiaries is a retailer selling an assortment of domestics merchandise and home furnishings which operates under the names Bed Bath & Beyond Christmas Tree Shops Christmas Tree Shops andThat! or andThat! Harmon or Harmon Face Values buybuy BABY and World Market Cost Plus World Market or Cost Plus. Customers can purchase products from the Company either in-store online or through a mobile device. In addition the Company operates Of a Kind an e-commerce Website that features specially commissioned limited edition items from emerging fashion and home designers. It also operates Linen Holdings a provider of a variety of textile products amenities and other goods to institutional customers in the hospitality cruise line healthcare and other industries. The Company is a partner in a joint venture which operates retail stores in Mexico under the name Bed Bath & Beyond. It sells an assortment of domestics merchandise and home furnishings.

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