Bed Bath & Beyond (NYSE:BBBY) Shares Set to Split on Thursday, October 2nd

Bed Bath & Beyond, Inc. (NYSE:BBBY)’s stock is going to split before the market opens on Thursday, October 2nd. The 11-10 split was recently announced. The newly issued shares will be distributed to shareholders after the market closes on Wednesday, October 1st.

Bed Bath & Beyond Stock Performance

BBBY opened at $9.39 on Friday. Bed Bath & Beyond has a one year low of $3.54 and a one year high of $11.67. The stock has a market capitalization of $539.04 million, a PE ratio of -2.31 and a beta of 2.77. The business’s 50 day moving average price is $9.43 and its 200 day moving average price is $6.96.

Bed Bath & Beyond (NYSE:BBBY) last released its quarterly earnings data on Monday, July 28th. The company reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.15. Bed Bath & Beyond had a negative return on equity of 78.27% and a negative net margin of 17.86%.The firm had revenue of $282.25 million for the quarter, compared to analysts’ expectations of $250.37 million. During the same period in the prior year, the firm posted ($0.76) earnings per share. The firm’s quarterly revenue was down 29.1% on a year-over-year basis. As a group, equities research analysts forecast that Bed Bath & Beyond will post -3.75 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Wedbush upped their price target on Bed Bath & Beyond from $10.00 to $13.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 22nd. Needham & Company LLC restated a “hold” rating on shares of Bed Bath & Beyond in a research note on Tuesday, July 29th. Finally, Wall Street Zen upgraded Bed Bath & Beyond from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Bed Bath & Beyond presently has a consensus rating of “Hold” and a consensus target price of $8.86.

Institutional Trading of Bed Bath & Beyond

Hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC raised its stake in shares of Bed Bath & Beyond by 85.2% in the second quarter. Nisa Investment Advisors LLC now owns 3,629 shares of the company’s stock valued at $25,000 after acquiring an additional 1,669 shares in the last quarter. Headlands Technologies LLC purchased a new position in Bed Bath & Beyond in the second quarter valued at $33,000. Caitong International Asset Management Co. Ltd increased its holdings in Bed Bath & Beyond by 104.2% in the first quarter. Caitong International Asset Management Co. Ltd now owns 5,531 shares of the company’s stock valued at $32,000 after buying an additional 2,823 shares during the last quarter. Ameritas Investment Partners Inc. increased its holdings in Bed Bath & Beyond by 25.3% in the second quarter. Ameritas Investment Partners Inc. now owns 5,617 shares of the company’s stock valued at $39,000 after buying an additional 1,133 shares during the last quarter. Finally, Platform Technology Partners purchased a new position in Bed Bath & Beyond in the first quarter valued at $59,000. 76.30% of the stock is currently owned by institutional investors and hedge funds.

Bed Bath & Beyond Company Profile

Beyond, Inc operates as an online retailer of furniture and home furnishings products in the United States and Canada. The company offers furniture, bedding and bath, patio and outdoor gear, area rugs, tabletop and cookware, décor, storage and organization, small appliances, home improvement, and other products under the Bed Bath & Beyond brand.