Bed Bath & Beyond, Inc. (NYSE:BBBY) Given Consensus Recommendation of “Hold” by Analysts

Shares of Bed Bath & Beyond, Inc. (NYSE:BBBY) have received an average recommendation of “Hold” from the six research firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $10.20.

Several research analysts recently weighed in on the company. Wedbush reiterated an “outperform” rating and set a $13.00 price target on shares of Bed Bath & Beyond in a research report on Tuesday, October 21st. Barclays set a $8.00 price objective on shares of Bed Bath & Beyond and gave the stock an “equal weight” rating in a research note on Tuesday, October 28th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Bed Bath & Beyond in a research note on Wednesday, October 8th.

Bed Bath & Beyond Stock Performance

Shares of BBBY opened at $5.45 on Friday. The business’s 50-day moving average is $6.39 and its two-hundred day moving average is $7.99. The company has a market capitalization of $375.23 million, a P/E ratio of -1.94 and a beta of 2.85. Bed Bath & Beyond has a fifty-two week low of $3.54 and a fifty-two week high of $12.65.

Institutional Investors Weigh In On Bed Bath & Beyond

Several hedge funds have recently modified their holdings of BBBY. ProShare Advisors LLC grew its holdings in Bed Bath & Beyond by 19.4% in the second quarter. ProShare Advisors LLC now owns 518,173 shares of the company’s stock valued at $3,565,000 after purchasing an additional 84,356 shares during the period. Geode Capital Management LLC raised its stake in shares of Bed Bath & Beyond by 20.5% during the 2nd quarter. Geode Capital Management LLC now owns 1,241,524 shares of the company’s stock worth $8,543,000 after buying an additional 211,446 shares during the period. Fund 1 Investments LLC purchased a new position in shares of Bed Bath & Beyond during the 2nd quarter valued at approximately $1,184,000. AXQ Capital LP purchased a new position in shares of Bed Bath & Beyond during the 2nd quarter valued at approximately $354,000. Finally, Murchinson Ltd. grew its stake in Bed Bath & Beyond by 66.7% in the 1st quarter. Murchinson Ltd. now owns 100,000 shares of the company’s stock valued at $580,000 after acquiring an additional 40,000 shares during the period. 76.30% of the stock is owned by hedge funds and other institutional investors.

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.