Insider Selling: Bed Bath & Beyond CEO Sells 100,000 Shares of Stock (BBBY)
Bed Bath & Beyond (NASDAQ:BBBY) CEO Steven Temares sold 100,000 shares of Bed Bath & Beyond stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $78.04, for a total transaction of $7,804,000.00. Following the completion of the sale, the chief executive officer now directly owns 594,676 shares of the company’s stock, valued at approximately $46,408,515. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Bed Bath & Beyond (NASDAQ:BBBY) traded up 0.74% during mid-day trading on Friday, hitting $77.97. 792,825 shares of the company’s stock traded hands. Bed Bath & Beyond has a 1-year low of $54.33 and a 1-year high of $78.88. The stock has a 50-day moving average of $74.61 and a 200-day moving average of $71.25. The company has a market cap of $16.540 billion and a P/E ratio of 16.11.
Bed Bath & Beyond (NASDAQ:BBBY) last posted its quarterly earnings results on Wednesday, September 25th. The company reported $1.16 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.15 by $0.01. The company had revenue of $2.82 billion for the quarter, compared to the consensus estimate of $2.81 billion. During the same quarter in the prior year, the company posted $0.98 earnings per share. The company’s quarterly revenue was up 8.9% on a year-over-year basis. On average, analysts predict that Bed Bath & Beyond will post $5.01 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on BBBY shares. Analysts at Zacks reiterated a “neutral” rating on shares of Bed Bath & Beyond (NASDAQ:BBBY) in a research note to investors on Thursday. They now have a $82.00 price target on the stock. Separately, analysts at Wedbush raised their price target on shares of Bed Bath & Beyond (NASDAQ:BBBY) from $85.00 to $88.00 in a research note to investors on Friday, September 27th. They now have an “outperform” rating on the stock. Finally, analysts at Credit Suisse raised their price target on shares of Bed Bath & Beyond (NASDAQ:BBBY) from $80.00 to $85.00 in a research note to investors on Friday, September 27th. They now have an “outperform” rating on the stock. Two analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $79.87.
Bed Bath & Beyond Inc is a chain of retail stores, operating under the names Bed Bath & Beyond (NASDAQ:BBBY), Christmas Tree Shops (CTS), Harmon and Harmon Face Values (Harmon), buybuy BABY and World Market or Cost Plus World Market (World Market).
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