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

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

Several research firms have recently commented on BBBY. Piper Sandler set a $8.00 price target on Bed Bath & Beyond and gave the stock a “neutral” rating in a research report on Tuesday, February 24th. Weiss Ratings lowered Bed Bath & Beyond from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 4th. Finally, Wedbush reissued an “outperform” rating and issued a $8.00 price target (up from $7.00) on shares of Bed Bath & Beyond in a research report on Tuesday, April 28th.

Insider Activity at Bed Bath & Beyond

In related news, Director Joseph J. Tabacco, Jr. purchased 20,000 shares of Bed Bath & Beyond stock in a transaction dated Tuesday, March 10th. The stock was purchased at an average cost of $5.11 per share, with a total value of $102,200.00. Following the transaction, the director owned 167,209 shares in the company, valued at approximately $854,437.99. The trade was a 13.59% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in BBBY. AQR Capital Management LLC raised its position in shares of Bed Bath & Beyond by 217.4% in the 1st quarter. AQR Capital Management LLC now owns 131,501 shares of the company’s stock worth $763,000 after acquiring an additional 90,076 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Bed Bath & Beyond by 30.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 66,512 shares of the company’s stock worth $386,000 after buying an additional 15,707 shares during the last quarter. Strs Ohio purchased a new position in Bed Bath & Beyond during the 1st quarter worth $151,000. Rhumbline Advisers grew its stake in Bed Bath & Beyond by 38.9% during the 2nd quarter. Rhumbline Advisers now owns 97,453 shares of the company’s stock worth $670,000 after buying an additional 27,286 shares during the last quarter. Finally, Sei Investments Co. purchased a new position in Bed Bath & Beyond during the 2nd quarter worth $378,000. 76.30% of the stock is owned by institutional investors.

Bed Bath & Beyond Stock Down 6.2%

Shares of NYSE BBBY opened at $5.85 on Monday. The business has a fifty day simple moving average of $5.24 and a two-hundred day simple moving average of $5.58. The firm has a market cap of $432.18 million, a PE ratio of -6.15 and a beta of 2.86. Bed Bath & Beyond has a twelve month low of $4.26 and a twelve month 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 for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.06. The business 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%.

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.