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

Shares of Bed Bath & Beyond, Inc. (NYSE:BBBY) have been assigned a consensus rating of “Hold” from the six brokerages that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $8.6667.

A number of analysts have recently issued reports on BBBY shares. Weiss Ratings raised shares of Bed Bath & Beyond from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, July 8th. Zacks Research raised shares of Bed Bath & Beyond to a “hold” rating in a research note on Wednesday, June 24th. Finally, Wedbush lifted their price objective on shares of Bed Bath & Beyond from $8.00 to $10.00 and gave the company an “outperform” rating in a report on Tuesday, June 23rd.

Bed Bath & Beyond Stock Performance

Shares of BBBY stock opened at $5.04 on Tuesday. The stock has a 50 day moving average price of $5.68 and a 200 day moving average price of $5.54. Bed Bath & Beyond has a 52-week low of $4.26 and a 52-week high of $12.65. The firm has a market capitalization of $372.44 million, a P/E ratio of -5.30 and a beta of 2.85.

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 the consensus estimate of ($0.31) by $0.06. Bed Bath & Beyond had a negative return on equity of 27.60% and a negative net margin of 5.76%.The company had revenue of $248.00 million for the quarter. As a group, sell-side analysts forecast that Bed Bath & Beyond will post -0.79 EPS for the current year.

Insider Buying and Selling

In other news, Director Joanna M. Burkey sold 9,943 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $6.38, for a total transaction of $63,436.34. Following the transaction, the director directly owned 32,474 shares of the company’s stock, valued at approximately $207,184.12. This trade represents a 23.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.80% of the stock is owned by corporate insiders.

Institutional Trading of Bed Bath & Beyond

Large investors have recently modified their holdings of the company. AQR Capital Management LLC increased its holdings in Bed Bath & Beyond by 217.4% during the 1st quarter. AQR Capital Management LLC now owns 131,501 shares of the company’s stock worth $763,000 after purchasing an additional 90,076 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Bed Bath & Beyond by 30.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 66,512 shares of the company’s stock worth $386,000 after buying an additional 15,707 shares during the period. Strs Ohio purchased a new stake in shares of Bed Bath & Beyond in the 1st quarter worth $151,000. Rhumbline Advisers grew its position in shares of Bed Bath & Beyond by 38.9% during the 2nd quarter. Rhumbline Advisers now owns 97,453 shares of the company’s stock worth $670,000 after buying an additional 27,286 shares in the last quarter. Finally, Sei Investments Co. bought a new position in shares of Bed Bath & Beyond during the 2nd quarter worth $378,000. Hedge funds and other 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.