Bed Bath & Beyond (NYSE:BBBY) Director Sells $63,436.34 in Stock

Bed Bath & Beyond, Inc. (NYSE:BBBY) Director Joanna Burkey sold 9,943 shares of the company’s stock in a transaction on 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 approximately $207,184.12. The trade was a 23.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Bed Bath & Beyond Stock Performance

Shares of BBBY stock traded down $0.36 during mid-day trading on Monday, reaching $5.48. The company’s stock had a trading volume of 1,629,844 shares, compared to its average volume of 2,556,804. Bed Bath & Beyond, Inc. has a 1-year low of $4.26 and a 1-year high of $12.65. The company has a market cap of $405.18 million, a P/E ratio of -5.77 and a beta of 2.86. The firm’s 50-day moving average is $5.24 and its two-hundred day moving average is $5.58.

Bed Bath & Beyond (NYSE:BBBY) last announced 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. 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 during the quarter.

Institutional Investors Weigh In On Bed Bath & Beyond

Several institutional investors and hedge funds have recently made changes to their positions in the company. Nuveen LLC acquired a new position in Bed Bath & Beyond during the 4th quarter worth about $12,594,000. Geode Capital Management LLC acquired a new position in Bed Bath & Beyond during the 4th quarter valued at about $8,890,000. State Street Corp acquired a new position in Bed Bath & Beyond during the 4th quarter valued at about $7,175,000. Federated Hermes Inc. acquired a new position in Bed Bath & Beyond during the 4th quarter valued at about $4,730,000. Finally, Able Wealth Management LLC acquired a new position in Bed Bath & Beyond during the 4th quarter valued at about $4,612,000. Institutional investors and hedge funds own 76.30% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on BBBY shares. Wedbush reaffirmed an “outperform” rating and issued a $8.00 price target (up from $7.00) on shares of Bed Bath & Beyond in a research note on Tuesday, April 28th. Weiss Ratings downgraded shares of Bed Bath & Beyond from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 4th. Finally, Piper Sandler set a $8.00 target price on shares of Bed Bath & Beyond and gave the company a “neutral” rating in a research note on Tuesday, February 24th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $8.00.

About Bed Bath & Beyond

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.