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

Shares of Bed Bath & Beyond, Inc. (NYSE:BBBY) have received a consensus rating of “Hold” from the five analysts that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $8.00.

Several brokerages recently weighed in on BBBY. Wedbush reiterated an “outperform” rating and issued a $8.00 price objective (up from $7.00) on shares of Bed Bath & Beyond in a research report on Tuesday, April 28th. Piper Sandler set a $8.00 price objective on Bed Bath & Beyond and gave the stock a “neutral” rating in a research report on Tuesday, February 24th. Finally, Weiss Ratings lowered Bed Bath & Beyond from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 4th.

Bed Bath & Beyond Stock Performance

Shares of Bed Bath & Beyond stock opened at $5.85 on Monday. The firm has a market capitalization of $432.17 million, a price-to-earnings ratio of -6.15 and a beta of 2.86. Bed Bath & Beyond has a fifty-two week low of $4.26 and a fifty-two week high of $12.65. The stock has a 50 day moving average of $5.24 and a 200 day moving average of $5.58.

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, topping the consensus estimate of ($0.31) by $0.06. The company had revenue of $248.00 million during the quarter. Bed Bath & Beyond had a negative return on equity of 27.60% and a negative net margin of 5.76%.

Insider Activity at Bed Bath & Beyond

In other news, Director Joseph J. Tabacco, Jr. purchased 20,000 shares of the stock in a transaction dated Tuesday, March 10th. The stock was acquired at an average cost of $5.11 per share, for a total transaction of $102,200.00. Following the completion of the transaction, the director directly owned 167,209 shares in the company, valued at approximately $854,437.99. This represents a 13.59% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 1.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Able Wealth Management LLC purchased a new position in Bed Bath & Beyond in the fourth quarter valued at $4,612,000. WMG Financial Advisors LLC purchased a new position in Bed Bath & Beyond in the fourth quarter valued at $507,000. GSA Capital Partners LLP purchased a new position in Bed Bath & Beyond in the fourth quarter valued at $920,000. ProShare Advisors LLC purchased a new position in Bed Bath & Beyond in the fourth quarter valued at $3,290,000. Finally, Lane Brothers & Co. Inc. purchased a new position in Bed Bath & Beyond in the fourth quarter valued at $142,000. 76.30% of the stock is currently owned by hedge funds and other institutional investors.

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.