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

Shares of Bed Bath & Beyond, Inc. (NYSE:BBBY) have been assigned a consensus recommendation of “Hold” from the five research firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $8.00.

A number of equities analysts recently weighed in on the company. Weiss Ratings lowered Bed Bath & Beyond from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 4th. Piper Sandler set a $8.00 target price on shares of Bed Bath & Beyond and gave the stock a “neutral” rating in a report on Tuesday, February 24th. Finally, Wedbush restated an “outperform” rating and set a $8.00 price target (up from $7.00) on shares of Bed Bath & Beyond in a report on Tuesday, April 28th.

Bed Bath & Beyond Stock Performance

Bed Bath & Beyond stock opened at $6.14 on Monday. The firm has a market cap of $453.62 million, a price-to-earnings ratio of -6.46 and a beta of 2.86. Bed Bath & Beyond has a 1 year low of $4.26 and a 1 year high of $12.65. The firm’s 50 day moving average price is $5.09 and its two-hundred day moving average price is $5.59.

Bed Bath & Beyond (NYSE:BBBY) last announced its quarterly earnings data on Monday, April 27th. The company reported ($0.25) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.06. The company had revenue of $248.00 million during the quarter. Bed Bath & Beyond had a negative return on equity of 27.60% and a negative net margin of 5.76%.

Insider Activity

In other Bed Bath & Beyond news, Director Joseph J. Tabacco, Jr. bought 20,000 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The stock was acquired at an average price of $5.11 per share, with a total value of $102,200.00. Following the completion of the transaction, the director directly owned 167,209 shares in the company, valued at approximately $854,437.99. This represents a 13.59% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company lifted its stake in Bed Bath & Beyond by 20.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,291 shares of the company’s stock worth $140,000 after acquiring an additional 3,469 shares in the last quarter. Headlands Technologies LLC purchased a new position in Bed Bath & Beyond during the 2nd quarter valued at about $33,000. Public Employees Retirement System of Ohio acquired a new position in shares of Bed Bath & Beyond in the 4th quarter valued at about $37,000. New York State Common Retirement Fund purchased a new stake in shares of Bed Bath & Beyond in the fourth quarter worth approximately $47,000. Finally, WMG Financial Advisors LLC lifted its position in shares of Bed Bath & Beyond by 9.5% in the first quarter. WMG Financial Advisors LLC now owns 101,700 shares of the company’s stock worth $472,000 after purchasing an additional 8,850 shares in the last quarter. 76.30% of the stock is owned by institutional investors and hedge funds.

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.