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

Bed Bath & Beyond, Inc. (NYSE:BBBY) Director Joseph Tabacco, Jr. bought 20,000 shares of Bed Bath & Beyond stock in a transaction on Tuesday, March 10th. The shares were bought at an average price of $5.11 per share, for a total transaction of $102,200.00. Following the acquisition, the director owned 167,209 shares of the company’s stock, valued at approximately $854,437.99. The trade was a 13.59% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Bed Bath & Beyond Trading Up 5.4%

Shares of BBBY stock traded up $0.25 on Friday, reaching $4.85. The company had a trading volume of 1,096,342 shares, compared to its average volume of 1,923,378. The stock has a market cap of $334.70 million, a PE ratio of -3.33 and a beta of 3.02. The company has a 50-day moving average of $5.85 and a 200-day moving average of $7.17. Bed Bath & Beyond, Inc. has a 12 month low of $3.54 and a 12 month high of $12.65.

Bed Bath & Beyond (NYSE:BBBY) last released its quarterly earnings data on Monday, February 23rd. The company reported ($0.16) earnings per share 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 business had revenue of $273.43 million for the quarter. Sell-side analysts anticipate that Bed Bath & Beyond, Inc. will post -3.75 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on BBBY shares. Piper Sandler set a $8.00 price target on shares of Bed Bath & Beyond and gave the company a “neutral” rating in a report on Tuesday, February 24th. Wedbush reduced their target price on Bed Bath & Beyond from $13.00 to $7.00 and set an “outperform” rating on the stock in a report on Wednesday, February 18th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Bed Bath & Beyond in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.00.

Institutional Investors Weigh In On Bed Bath & Beyond

Large investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. raised its holdings in shares of Bed Bath & Beyond by 25.3% during the second quarter. Ameritas Investment Partners Inc. now owns 5,617 shares of the company’s stock worth $39,000 after acquiring an additional 1,133 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Bed Bath & Beyond by 20.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,291 shares of the company’s stock worth $140,000 after purchasing an additional 3,469 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Bed Bath & Beyond in the 2nd quarter valued at about $33,000. Public Employees Retirement System of Ohio bought a new stake in shares of Bed Bath & Beyond in the fourth quarter valued at about $37,000. Finally, Banco Bilbao Vizcaya Argentaria S.A. lifted its holdings in shares of Bed Bath & Beyond by 23.7% in the second quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 41,496 shares of the company’s stock valued at $271,000 after purchasing an additional 7,963 shares in the last quarter. Institutional investors own 76.30% of the company’s stock.

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.