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

Shares of Bed Bath & Beyond, Inc. (NYSE:BBBY) have been given an average rating of “Hold” by the six analysts that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $9.00.

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bed Bath & Beyond in a research note on Wednesday, January 21st. Wedbush cut their price target on shares of Bed Bath & Beyond from $13.00 to $7.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Barclays set a $8.00 price objective on Bed Bath & Beyond and gave the company an “equal weight” rating in a research note on Tuesday, October 28th.

Bed Bath & Beyond Price Performance

Shares of BBBY opened at $5.25 on Friday. Bed Bath & Beyond has a 1 year low of $3.54 and a 1 year high of $12.65. The stock has a 50 day simple moving average of $6.02 and a two-hundred day simple moving average of $7.53. The firm has a market cap of $361.52 million, a P/E ratio of -1.87 and a beta of 2.99.

Institutional Trading of Bed Bath & Beyond

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Nuveen LLC purchased a new stake in shares of Bed Bath & Beyond during the fourth quarter valued at approximately $12,594,000. Geode Capital Management LLC bought a new stake in Bed Bath & Beyond during the 4th quarter valued at $8,890,000. State Street Corp purchased a new stake in Bed Bath & Beyond during the 4th quarter valued at $7,175,000. Federated Hermes Inc. bought a new stake in Bed Bath & Beyond in the 4th quarter worth $4,730,000. Finally, Able Wealth Management LLC purchased a new position in shares of Bed Bath & Beyond in the fourth quarter valued at about $4,612,000. Institutional investors own 76.30% of the company’s stock.

Bed Bath & Beyond Company Profile

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.