Analysts Set Bed Bath & Beyond, Inc. (NYSE:BBBY) PT at $8.67

Shares of Bed Bath & Beyond, Inc. (NYSE:BBBY) have been assigned a consensus recommendation of “Hold” from the six ratings firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $8.6667.

A number of research firms recently weighed in on BBBY. Wedbush increased their price target on Bed Bath & Beyond from $8.00 to $10.00 and gave the company an “outperform” rating in a research report on Tuesday, June 23rd. Zacks Research upgraded Bed Bath & Beyond to a “hold” rating in a report on Wednesday, June 24th. Finally, Weiss Ratings raised shares of Bed Bath & Beyond from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, July 8th.

Bed Bath & Beyond Stock Down 4.0%

BBBY opened at $4.94 on Tuesday. The firm has a market cap of $365.56 million, a PE ratio of -5.20 and a beta of 2.85. The business has a fifty day simple moving average of $5.70 and a 200-day simple moving average of $5.53. Bed Bath & Beyond has a fifty-two week low of $4.26 and a fifty-two week high of $12.65.

Bed Bath & Beyond (NYSE:BBBY) last issued its earnings results on Monday, April 27th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.06. The business had revenue of $248.00 million for the quarter. Bed Bath & Beyond had a negative return on equity of 27.60% and a negative net margin of 5.76%. On average, equities research analysts anticipate that Bed Bath & Beyond will post -0.79 EPS for the current fiscal year.

Insiders Place Their Bets

In other Bed Bath & Beyond news, Director Joanna M. Burkey sold 9,943 shares of Bed Bath & Beyond stock in a transaction that occurred 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 directly owned 32,474 shares in the company, valued at approximately $207,184.12. The trade was a 23.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.80% of the company’s stock.

Institutional Trading of Bed Bath & Beyond

Several hedge funds and other institutional investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company grew its stake in shares of 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 acquired a new position in Bed Bath & Beyond in the second quarter worth approximately $33,000. Public Employees Retirement System of Ohio bought a new position in Bed Bath & Beyond during the fourth quarter valued at approximately $37,000. New York State Common Retirement Fund bought a new position in Bed Bath & Beyond during the fourth quarter valued at approximately $47,000. Finally, WMG Financial Advisors LLC lifted its stake in Bed Bath & Beyond by 9.5% in the first quarter. WMG Financial Advisors LLC now owns 101,700 shares of the company’s stock valued at $472,000 after acquiring an additional 8,850 shares during the last quarter. Institutional investors and hedge funds own 76.30% of the company’s stock.

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.