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

Bed Bath & Beyond, Inc. (NYSE:BBBY) has been given an average rating of “Hold” by the five ratings firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $8.6667.

Several equities analysts recently commented on the stock. Wedbush boosted their price objective on shares of Bed Bath & Beyond from $8.00 to $10.00 and gave the company an “outperform” rating in a research note on Tuesday. Weiss Ratings cut shares of Bed Bath & Beyond from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 4th.

Insider Activity

In related news, Director Joanna M. Burkey sold 9,943 shares of the stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $6.38, for a total value of $63,436.34. Following the sale, the director owned 32,474 shares in the company, 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 filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.80% of the company’s stock.

Institutional Trading of Bed Bath & Beyond

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

Bed Bath & Beyond Trading Down 5.5%

Shares of BBBY stock opened at $6.33 on Friday. The firm’s 50 day moving average is $5.62 and its 200 day moving average is $5.59. The stock has a market capitalization of $468.11 million, a P/E ratio of -6.66 and a beta of 2.86. Bed Bath & Beyond has a 12 month low of $4.26 and a 12 month high of $12.65.

Bed Bath & Beyond (NYSE:BBBY) last issued its earnings results on Monday, April 27th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.06. Bed Bath & Beyond had a negative net margin of 5.76% and a negative return on equity of 27.60%. The business had revenue of $248.00 million for the quarter. On average, equities analysts predict that Bed Bath & Beyond will post -0.79 EPS for the current year.

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.