Bed Bath & Beyond, Inc. (NYSE:BBBY) Receives Average Rating of "Hold" from Analysts

Key Points

• Analysts have a consensus “Hold” rating on Bed Bath & Beyond, with one sell, three hold and one buy recommendation. The average 12-month price target is $8.67.
• The stock opened at $4.36, near its one-year low of $4.18 and below its 50- and 200-day moving averages. Its latest quarterly loss of $0.53 per share was worse than analysts’ expected loss of $0.30.
• Director Joanna M. Burkey sold 9,943 shares for about $63,436 under a Rule 10b5-1 plan, while institutional investors own 76.3% of the company.

Shares of Bed Bath & Beyond, Inc. (NYSE:BBBY - Get Free Report) have earned a consensus rating of "Hold" from the five ratings firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $8.6667.

Several brokerages have recently weighed in on BBBY. Wall Street Zen downgraded shares of Bed Bath & Beyond from a "hold" rating to a "sell" rating in a report on Saturday, August 8th. Zacks Research upgraded shares of Bed Bath & Beyond to a "hold" rating in a research note on Wednesday, June 24th. Wedbush increased their price target on shares of Bed Bath & Beyond from $8.00 to $10.00 and gave the stock an "outperform" rating in a report on Tuesday, June 23rd. Finally, Weiss Ratings upgraded shares of Bed Bath & Beyond from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, July 8th.

Insider Transactions at Bed Bath & Beyond

In other news, Director Joanna M. Burkey sold 9,943 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $6.38, for a total transaction of $63,436.34. Following the completion of the transaction, the director directly owned 32,474 shares of the company's stock, valued at approximately $207,184.12. This represents a 23.44% decrease in their position. The sale was disclosed in a filing 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

A number of institutional investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company grew its holdings in Bed Bath & Beyond by 20.6% during the second quarter. The Manufacturers Life Insurance Company now owns 20,291 shares of the company's stock worth $140,000 after acquiring an additional 3,469 shares during the period. Headlands Technologies LLC acquired a new stake in Bed Bath & Beyond in the second quarter valued at $33,000. Public Employees Retirement System of Ohio acquired a new stake in Bed Bath & Beyond in the fourth quarter valued at $37,000. Legal & General Group Plc purchased a new stake in shares of Bed Bath & Beyond during the 2nd quarter worth $42,000. Finally, New York State Common Retirement Fund purchased a new stake in shares of Bed Bath & Beyond during the 4th quarter worth $47,000. 76.30% of the stock is currently owned by hedge funds and other institutional investors.

Bed Bath & Beyond Price Performance

Shares of NYSE BBBY opened at $4.36 on Friday. The stock has a fifty day moving average price of $5.40 and a 200 day moving average price of $5.31. Bed Bath & Beyond has a 1-year low of $4.18 and a 1-year high of $12.65. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.76 and a quick ratio of 0.59. The company has a market cap of $415.16 million, a PE ratio of -3.82 and a beta of 2.89.

Bed Bath & Beyond (NYSE:BBBY - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.23). The firm had revenue of $361.16 million during the quarter. Bed Bath & Beyond had a negative net margin of 7.13% and a negative return on equity of 37.60%. During the same quarter in the prior year, the company earned ($0.34) earnings per share. Sell-side analysts forecast that Bed Bath & Beyond will post -0.92 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.

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