Bed Bath & Beyond, Inc. (NYSE:BBBY) Given Average Recommendation of “Hold” by Brokerages

Shares of Bed Bath & Beyond, Inc. (NYSE:BBBY) have been given a consensus recommendation of “Hold” by the six analysts that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $8.6667.

Several brokerages have recently issued reports on BBBY. Zacks Research upgraded shares of Bed Bath & Beyond to a “hold” rating in a research report on Wednesday, June 24th. Weiss Ratings cut Bed Bath & Beyond from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 4th. Finally, Wedbush increased their target price on Bed Bath & Beyond from $8.00 to $10.00 and gave the company an “outperform” rating in a report on Tuesday, June 23rd.

Insiders Place Their Bets

In other Bed Bath & Beyond news, Director Joanna M. Burkey sold 9,943 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $6.38, for a total value of $63,436.34. Following the transaction, the director owned 32,474 shares in the company, valued at approximately $207,184.12. This trade represents a 23.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Bed Bath & Beyond

Hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company raised its position in shares of Bed Bath & Beyond by 20.6% during 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 during the period. Headlands Technologies LLC purchased a new position in Bed Bath & Beyond in the second quarter worth approximately $33,000. Public Employees Retirement System of Ohio purchased a new position in Bed Bath & Beyond in the fourth quarter worth approximately $37,000. New York State Common Retirement Fund acquired a new stake in Bed Bath & Beyond during the fourth quarter worth $47,000. Finally, WMG Financial Advisors LLC increased its stake in Bed Bath & Beyond by 9.5% during the first quarter. WMG Financial Advisors LLC now owns 101,700 shares of the company’s stock worth $472,000 after acquiring an additional 8,850 shares during the last quarter. 76.30% of the stock is currently owned by institutional investors and hedge funds.

Bed Bath & Beyond Trading Down 6.8%

Shares of BBBY opened at $5.79 on Friday. Bed Bath & Beyond has a 12 month low of $4.26 and a 12 month high of $12.65. The stock’s 50 day moving average is $5.66 and its two-hundred day moving average is $5.58. The firm has a market cap of $428.48 million, a P/E ratio of -6.10 and a beta of 2.85.

Bed Bath & Beyond (NYSE:BBBY) last announced its earnings results 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. Bed Bath & Beyond had a negative return on equity of 27.60% and a negative net margin of 5.76%.The business had revenue of $248.00 million during the quarter. Equities research analysts forecast that Bed Bath & Beyond will post -0.79 EPS for the current year.

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.