Joanna Burkey Sells 9,943 Shares of Bed Bath & Beyond (NYSE:BBBY) Stock

Bed Bath & Beyond, Inc. (NYSE:BBBY) Director Joanna Burkey sold 9,943 shares of Bed Bath & Beyond stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $6.38, for a total value of $63,436.34. Following the sale, the director directly owned 32,474 shares of the company’s stock, valued at approximately $207,184.12. The trade was a 23.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Bed Bath & Beyond Trading Up 6.1%

BBBY opened at $5.81 on Wednesday. The stock has a market cap of $429.89 million, a price-to-earnings ratio of -6.12 and a beta of 2.86. Bed Bath & Beyond, Inc. has a 1 year low of $4.26 and a 1 year high of $12.65. The stock has a fifty day moving average price of $5.29 and a 200 day moving average price of $5.58.

Bed Bath & Beyond (NYSE:BBBY) last released its quarterly earnings data on Monday, April 27th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.06. The firm 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%.

Institutional Trading of Bed Bath & Beyond

A number of institutional investors and hedge funds have recently made changes to their positions in BBBY. Headlands Technologies LLC acquired a new stake in shares of Bed Bath & Beyond in the second quarter worth about $33,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Bed Bath & Beyond in the fourth quarter worth about $37,000. New York State Common Retirement Fund acquired a new stake in shares of Bed Bath & Beyond in the fourth quarter worth about $47,000. Stockman Wealth Management Inc. acquired a new stake in shares of Bed Bath & Beyond in the fourth quarter worth about $55,000. Finally, ExodusPoint Capital Management LP acquired a new stake in shares of Bed Bath & Beyond in the fourth quarter worth about $63,000. Institutional investors and hedge funds own 76.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Weiss Ratings cut Bed Bath & Beyond from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 4th. Wedbush reissued an “outperform” rating and set a $8.00 price objective (up from $7.00) on shares of Bed Bath & Beyond in a research report on Tuesday, April 28th. Finally, Piper Sandler set a $8.00 price objective on Bed Bath & Beyond and gave the company a “neutral” rating in a research report on Tuesday, February 24th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $8.00.

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.