Bed Bath & Beyond (NYSE:BBBY) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of Bed Bath & Beyond (NYSE:BBBY) from a hold rating to a sell rating in a research report report published on Saturday.

Other equities analysts also recently issued reports about the company. Zacks Research upgraded Bed Bath & Beyond to a “hold” rating in a research report on Wednesday, June 24th. Wedbush lifted their price target on Bed Bath & Beyond from $8.00 to $10.00 and gave the company an “outperform” rating in a report on Tuesday, June 23rd. Finally, 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. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $8.67.

Bed Bath & Beyond Trading Down 4.1%

Shares of BBBY opened at $4.45 on Friday. Bed Bath & Beyond has a fifty-two week low of $4.26 and a fifty-two week high of $12.65. The company has a market capitalization of $329.03 million, a PE ratio of -3.90 and a beta of 2.89. The stock has a fifty day moving average of $5.55 and a two-hundred day moving average of $5.38. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.59 and a current ratio of 0.76.

Bed Bath & Beyond (NYSE:BBBY) last posted its quarterly earnings data on Tuesday, August 4th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.23). The business had revenue of $361.16 million for the quarter. Bed Bath & Beyond had a negative return on equity of 37.60% and a negative net margin of 7.13%.During the same quarter last year, the business earned ($0.34) EPS. As a group, analysts forecast that Bed Bath & Beyond will post -0.92 EPS for the current year.

Insider Activity

In other news, Director Joanna M. Burkey sold 9,943 shares of the company’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $6.38, for a total transaction of $63,436.34. Following the completion of the sale, the director directly owned 32,474 shares in the company, valued at $207,184.12. This represents a 23.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at 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 Investors Weigh In On Bed Bath & Beyond

Institutional investors have recently added to or reduced their stakes in the company. Nuveen LLC purchased a new position in shares of Bed Bath & Beyond in the 4th quarter worth about $12,594,000. Geode Capital Management LLC purchased a new stake in shares of Bed Bath & Beyond during the 4th quarter worth about $8,890,000. State Street Corp purchased a new stake in shares of Bed Bath & Beyond during the 4th quarter worth about $7,175,000. Renaissance Technologies LLC increased its position in Bed Bath & Beyond by 95.3% during the 1st quarter. Renaissance Technologies LLC now owns 1,041,100 shares of the company’s stock worth $4,831,000 after purchasing an additional 507,922 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Bed Bath & Beyond by 49.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 905,712 shares of the company’s stock worth $4,201,000 after purchasing an additional 299,391 shares in the last quarter. 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.