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

Shares of Bed Bath & Beyond, Inc. (NYSE:BBBY) have been given an average recommendation of “Hold” by the six research firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $8.6667.

BBBY has been the topic of several research reports. Weiss Ratings raised Bed Bath & Beyond from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 8th. Wedbush lifted their price target on Bed Bath & Beyond from $8.00 to $10.00 and gave the stock an “outperform” rating in a report on Tuesday, June 23rd. Finally, Zacks Research upgraded Bed Bath & Beyond to a “hold” rating in a research note on Wednesday, June 24th.

Bed Bath & Beyond Stock Up 8.4%

NYSE:BBBY opened at $5.38 on Tuesday. Bed Bath & Beyond has a 12-month low of $4.26 and a 12-month high of $12.65. The firm has a market capitalization of $397.43 million, a price-to-earnings ratio of -5.66 and a beta of 2.85. The stock’s 50 day moving average price is $5.73 and its two-hundred day moving average price is $5.51.

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

Insider Activity at Bed Bath & Beyond

In other Bed Bath & Beyond news, Director Joanna M. Burkey sold 9,943 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $6.38, for a total value of $63,436.34. Following the transaction, the director directly owned 32,474 shares of the company’s stock, valued at $207,184.12. This trade represents a 23.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Headlands Technologies LLC acquired a new position in shares of Bed Bath & Beyond in the 2nd quarter worth approximately $33,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Bed Bath & Beyond during the fourth quarter worth $37,000. New York State Common Retirement Fund acquired a new stake in shares of Bed Bath & Beyond during the fourth quarter worth $47,000. Stockman Wealth Management Inc. bought a new position in Bed Bath & Beyond during the fourth quarter worth $55,000. Finally, ExodusPoint Capital Management LP bought a new position in Bed Bath & Beyond during the fourth quarter worth $63,000. 76.30% of the stock is owned by institutional investors.

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.