Brokerages Set Bed Bath & Beyond, Inc. (NYSE:BBBY) PT at $8.00

Bed Bath & Beyond, Inc. (NYSE:BBBY) has been assigned an average rating of “Hold” from the five brokerages that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $8.00.

BBBY has been the subject of several recent research reports. 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. Wedbush reissued an “outperform” rating and issued a $8.00 price objective (up from $7.00) on shares of Bed Bath & Beyond in a research note on Tuesday, April 28th. Finally, Weiss Ratings downgraded Bed Bath & Beyond from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 4th.

Bed Bath & Beyond Stock Performance

NYSE BBBY opened at $6.21 on Monday. The business has a fifty day moving average price of $5.19 and a 200 day moving average price of $5.58. Bed Bath & Beyond has a one year low of $4.26 and a one year high of $12.65. The company has a market cap of $459.24 million, a P/E ratio of -6.54 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 the consensus estimate of ($0.31) by $0.06. Bed Bath & Beyond had a negative return on equity of 27.60% and a negative net margin of 5.76%.The firm had revenue of $248.00 million during the quarter.

Insider Transactions at Bed Bath & Beyond

In related news, Director Joseph J. Tabacco, Jr. bought 20,000 shares of the company’s stock in a transaction on Tuesday, March 10th. The stock was bought at an average cost of $5.11 per share, for a total transaction of $102,200.00. Following the acquisition, the director directly owned 167,209 shares in the company, valued at $854,437.99. This represents a 13.59% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.80% of the stock is currently owned by insiders.

Institutional Trading of Bed Bath & Beyond

Several large investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company grew its holdings in Bed Bath & Beyond by 20.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,291 shares of the company’s stock valued at $140,000 after buying an additional 3,469 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Bed Bath & Beyond in the 2nd quarter valued at $33,000. Public Employees Retirement System of Ohio purchased a new position in shares of Bed Bath & Beyond during the 4th quarter worth $37,000. New York State Common Retirement Fund purchased a new position in shares of Bed Bath & Beyond during the 4th quarter worth $47,000. Finally, WMG Financial Advisors LLC grew its holdings in shares of Bed Bath & Beyond by 9.5% during the 1st quarter. WMG Financial Advisors LLC now owns 101,700 shares of the company’s stock worth $472,000 after purchasing an additional 8,850 shares during the period. 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.