Bed Bath & Beyond (NYSE:BBBY) Releases Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Key Points

• Bed Bath & Beyond reported Q results with EPS of ($0.25), beating the consensus of ($0.31) by $0.06 and generating $248 million in revenue, but the company remains unprofitable with a negative net margin (8.10%) and negative ROE (33.44%).
• BBBY shares fell to $5.36 on heavy volume, trade within a 52-week range of $3.74–$12.65, carry a market cap near $371 million and a negative P/E, and hold an analyst consensus of Hold with an average target of $7.00.
• Insider activity included Director Joseph J. Tabacco Jr. buying 20,000 shares at about $5.11 (a 13.6% increase in his stake), while institutional investors now own roughly 76.3% of the stock.

Bed Bath & Beyond (NYSE:BBBY - Get Free Report) issued its quarterly earnings results on Monday. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.06, Zacks reports. Bed Bath & Beyond had a negative return on equity of 33.44% and a negative net margin of 8.10%.The company had revenue of $248.00 million for the quarter.

Bed Bath & Beyond Price Performance

BBBY stock traded down $0.25 during midday trading on Monday, reaching $5.36. 6,829,524 shares of the stock were exchanged, compared to its average volume of 1,863,002. Bed Bath & Beyond has a 52 week low of $3.74 and a 52 week high of $12.65. The company has a fifty day moving average price of $5.02 and a 200 day moving average price of $6.05. The stock has a market capitalization of $371.45 million, a PE ratio of -3.69 and a beta of 3.01.

Analyst Ratings Changes

BBBY has been the topic of several recent analyst reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Bed Bath & Beyond in a research note on Monday, April 20th. Piper Sandler set a $8.00 price target on Bed Bath & Beyond and gave the company a "neutral" rating in a research note on Tuesday, February 24th. Finally, Wedbush decreased their price target on Bed Bath & Beyond from $13.00 to $7.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 18th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $7.00.

Insider Transactions at Bed Bath & Beyond

In other news, Director Joseph J. Tabacco, Jr. bought 20,000 shares of the stock in a transaction on Tuesday, March 10th. The stock was acquired at an average price of $5.11 per share, with a total value of $102,200.00. Following the acquisition, the director directly owned 167,209 shares in the company, valued at approximately $854,437.99. This trade represents a 13.59% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bed Bath & Beyond

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Virtu Financial LLC acquired a new position in Bed Bath & Beyond in the 4th quarter worth about $221,000. Invesco Ltd. acquired a new position in Bed Bath & Beyond in the 4th quarter worth about $296,000. XTX Topco Ltd acquired a new position in Bed Bath & Beyond in the 4th quarter worth about $112,000. nVerses Capital LLC acquired a new position in Bed Bath & Beyond in the 4th quarter worth about $70,000. Finally, Polymer Capital Management US LLC acquired a new position in Bed Bath & Beyond in the 4th quarter worth about $422,000. Institutional investors and hedge funds own 76.30% of the company's stock.

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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