Bed Bath & Beyond, Inc. (NYSE:BBBY) Receives Average Recommendation of “Hold” from Analysts

Shares of Bed Bath & Beyond, Inc. (NYSE:BBBY) have received a consensus rating of “Hold” from the five research firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $8.6667.

Several research analysts have issued reports on the stock. Zacks Research upgraded shares of Bed Bath & Beyond to a “hold” rating in a research report on Wednesday, June 24th. Wall Street Zen downgraded Bed Bath & Beyond from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Weiss Ratings raised Bed Bath & Beyond from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, July 8th. Finally, Wedbush lifted their target price on Bed Bath & Beyond from $8.00 to $10.00 and gave the stock an “outperform” rating in a report on Tuesday, June 23rd.

Insider Activity at Bed Bath & Beyond

In related news, Director Joanna M. Burkey sold 9,943 shares of the stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $6.38, for a total value of $63,436.34. Following the completion of the transaction, the director owned 32,474 shares in the company, valued at $207,184.12. This trade represents a 23.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Bed Bath & Beyond

Several institutional investors and hedge funds have recently bought and sold shares of BBBY. Nuveen LLC acquired a new position in shares of Bed Bath & Beyond in the fourth quarter worth about $12,594,000. Geode Capital Management LLC purchased a new position in shares of Bed Bath & Beyond in the fourth quarter worth approximately $8,890,000. State Street Corp acquired a new stake in shares of Bed Bath & Beyond during the fourth quarter valued at approximately $7,175,000. Renaissance Technologies LLC raised its holdings in shares of Bed Bath & Beyond by 95.3% during the first quarter. Renaissance Technologies LLC now owns 1,041,100 shares of the company’s stock valued at $4,831,000 after acquiring an additional 507,922 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Bed Bath & Beyond by 49.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 905,712 shares of the company’s stock valued at $4,201,000 after acquiring an additional 299,391 shares in the last quarter. Institutional investors and hedge funds own 76.30% of the company’s stock.

Bed Bath & Beyond Stock Performance

NYSE:BBBY opened at $4.38 on Friday. Bed Bath & Beyond has a twelve month low of $4.18 and a twelve month high of $12.65. The company has a current ratio of 0.76, a quick ratio of 0.59 and a debt-to-equity ratio of 0.06. The company has a 50-day moving average of $5.27 and a 200-day moving average of $5.24. The firm has a market cap of $417.07 million, a price-to-earnings ratio of -3.84 and a beta of 2.89.

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

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.