Bed Bath & Beyond (NYSE:BBBY) Releases Quarterly Earnings Results, Misses Expectations By $0.23 EPS

Key Points

• Bed Bath & Beyond reported a quarterly loss of $0.53 per share, missing analysts’ consensus estimate of a $0.30 loss by $0.23. The company also posted a negative net margin of 5.76% and negative return on equity of 27.60%.
• Shares rose 4.8% to $5.57 despite the earnings miss. The stock has traded between $4.26 and $12.65 over the past year and carries a market capitalization of approximately $412 million.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $8.67; institutional investors own 76.30% of the company’s shares.

Bed Bath & Beyond (NYSE:BBBY - Get Free Report) released its earnings results on Tuesday. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.30) by ($0.23), Zacks reports. Bed Bath & Beyond had a negative net margin of 5.76% and a negative return on equity of 27.60%.

Bed Bath & Beyond Trading Up 4.8%

Shares of Bed Bath & Beyond stock traded up $0.25 on Tuesday, reaching $5.57. The stock had a trading volume of 3,265,924 shares, compared to its average volume of 2,546,687. The business's 50 day moving average is $5.70 and its two-hundred day moving average is $5.46. The company has a market cap of $412.14 million, a P/E ratio of -5.87 and a beta of 2.89. Bed Bath & Beyond has a 1 year low of $4.26 and a 1 year high of $12.65.

Insider Buying and Selling at Bed Bath & Beyond

In related news, Director Joanna M. Burkey sold 9,943 shares of the stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $6.38, for a total value of $63,436.34. Following the sale, the director owned 32,474 shares in the company, valued at approximately $207,184.12. This trade represents a 23.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.80% of the company's stock.

Hedge Funds Weigh In On Bed Bath & Beyond

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Headlands Technologies LLC bought a new stake in shares of Bed Bath & Beyond during the 2nd quarter worth $33,000. Public Employees Retirement System of Ohio purchased a new position in shares of Bed Bath & Beyond in the fourth quarter worth about $37,000. New York State Common Retirement Fund bought a new stake in shares of Bed Bath & Beyond in the 4th quarter valued at about $47,000. ExodusPoint Capital Management LP purchased a new stake in Bed Bath & Beyond during the 4th quarter valued at about $63,000. Finally, Engineers Gate Manager LP bought a new position in Bed Bath & Beyond during the 4th quarter worth approximately $63,000. Hedge funds and other institutional investors own 76.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Zacks Research raised shares of Bed Bath & Beyond to a "hold" rating in a research note on Wednesday, June 24th. Wedbush upped their price target on Bed Bath & Beyond from $8.00 to $10.00 and gave the stock an "outperform" rating in a research note 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 report on Wednesday, July 8th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Bed Bath & Beyond presently has a consensus rating of "Hold" and an average price target of $8.67.

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.

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