Bed Bath & Beyond (NYSE:BBBY) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of Bed Bath & Beyond (NYSE:BBBY) to a hold rating in a research note published on Wednesday,Zacks.com reports.

A number of other analysts also recently weighed in on the company. Weiss Ratings downgraded Bed Bath & Beyond from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 4th. Piper Sandler set a $8.00 price objective on Bed Bath & Beyond and gave the company a “neutral” rating in a research note on Tuesday, February 24th. Finally, Wedbush upped their target price on Bed Bath & Beyond from $8.00 to $10.00 and gave the company an “outperform” rating in a research report on Tuesday. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Bed Bath & Beyond has an average rating of “Hold” and an average target price of $8.67.

Bed Bath & Beyond Stock Performance

Bed Bath & Beyond stock opened at $6.33 on Wednesday. Bed Bath & Beyond has a 52-week low of $4.26 and a 52-week high of $12.65. The firm has a 50 day moving average price of $5.62 and a two-hundred day moving average price of $5.59. The firm has a market cap of $468.10 million, a price-to-earnings ratio of -6.66 and a beta of 2.86.

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

Insider Buying and Selling at Bed Bath & Beyond

In other news, Director Joanna M. Burkey sold 9,943 shares of the stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $6.38, for a total transaction of $63,436.34. Following the transaction, the director owned 32,474 shares of the company’s stock, valued at $207,184.12. This represents a 23.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nuveen LLC acquired a new stake in Bed Bath & Beyond in the fourth quarter valued at approximately $12,594,000. Geode Capital Management LLC acquired a new position in shares of Bed Bath & Beyond during the fourth quarter worth approximately $8,890,000. State Street Corp acquired a new position in shares of Bed Bath & Beyond during the fourth quarter worth approximately $7,175,000. Renaissance Technologies LLC lifted its holdings in shares of Bed Bath & Beyond by 95.3% in 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 grew its position in Bed Bath & Beyond by 49.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 905,712 shares of the company’s stock valued at $4,201,000 after purchasing an additional 299,391 shares during the period. 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.