Bed Bath & Beyond (NYSE:BBBY) Director Joseph Tabacco, Jr. Acquires 20,000 Shares

Bed Bath & Beyond, Inc. (NYSE:BBBY) Director Joseph Tabacco, Jr. purchased 20,000 shares of the company’s stock in a transaction dated Tuesday, March 10th. The stock was bought 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 of the company’s stock, valued at approximately $854,437.99. This represents a 13.59% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Bed Bath & Beyond Stock Performance

Shares of NYSE BBBY traded down $0.28 during midday trading on Thursday, reaching $4.60. 2,515,561 shares of the stock were exchanged, compared to its average volume of 1,759,282. Bed Bath & Beyond, Inc. has a twelve month low of $3.54 and a twelve month high of $12.65. The stock has a market capitalization of $317.10 million, a P/E ratio of -3.17 and a beta of 3.02. The company has a 50 day simple moving average of $5.85 and a 200 day simple moving average of $7.17.

Bed Bath & Beyond (NYSE:BBBY) last issued its quarterly earnings data on Monday, February 23rd. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.07. Bed Bath & Beyond had a negative net margin of 8.10% and a negative return on equity of 33.44%. The firm had revenue of $273.43 million for the quarter. On average, research analysts expect that Bed Bath & Beyond, Inc. will post -3.75 earnings per share for the current year.

Institutional Trading of Bed Bath & Beyond

Several institutional investors have recently made changes to their positions in BBBY. Ameritas Investment Partners Inc. boosted its position in shares of Bed Bath & Beyond by 25.3% in the second quarter. Ameritas Investment Partners Inc. now owns 5,617 shares of the company’s stock worth $39,000 after buying an additional 1,133 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of 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 valued at $140,000 after acquiring an additional 3,469 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Bed Bath & Beyond during the second quarter worth $33,000. Public Employees Retirement System of Ohio acquired a new stake in Bed Bath & Beyond during the fourth quarter worth about $37,000. Finally, Banco Bilbao Vizcaya Argentaria S.A. lifted its holdings in shares of Bed Bath & Beyond by 23.7% in the 2nd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 41,496 shares of the company’s stock worth $271,000 after purchasing an additional 7,963 shares during the last quarter. 76.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BBBY has been the subject of a number of research reports. Piper Sandler set a $8.00 price target on shares of Bed Bath & Beyond and gave the company a “neutral” rating in a research report on Tuesday, February 24th. Wedbush cut their price objective 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, February 18th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Bed Bath & Beyond in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.00.

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.