Bed Bath & Beyond (NYSE:BBBY) Shares Set to Split on Thursday, October 2nd

Key Points

• Bed Bath & Beyond (NYSE:BBBY) is planning a stock split of 11-10, which will occur before market opening on Thursday, October 2nd.
• The company's latest earnings report indicated a loss of ($0.22) per share, surpassing estimates, but revenue fell 29.1% year-over-year to $282.25 million.
• Analysts have mixed ratings on the stock, with a consensus average rating of "Hold" and a target price of $8.86, despite some firms recently boosting their price targets.

Bed Bath & Beyond, Inc. (NYSE:BBBY - Free Report)'s stock is going to split before the market opens on Thursday, October 2nd. The 11-10 split was recently announced. The newly created shares will be distributed to shareholders after the closing bell on Wednesday, October 1st.

Bed Bath & Beyond Stock Performance

NYSE BBBY opened at $9.39 on Friday. The stock has a market cap of $539.04 million, a P/E ratio of -2.31 and a beta of 2.77. The stock has a 50 day simple moving average of $9.43 and a two-hundred day simple moving average of $6.96. Bed Bath & Beyond has a fifty-two week low of $3.54 and a fifty-two week high of $11.67.

Bed Bath & Beyond (NYSE:BBBY - Get Free Report) last released its earnings results on Monday, July 28th. The company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.15. The company had revenue of $282.25 million for the quarter, compared to the consensus estimate of $250.37 million. Bed Bath & Beyond had a negative return on equity of 78.27% and a negative net margin of 17.86%.Bed Bath & Beyond's quarterly revenue was down 29.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.76) earnings per share. Sell-side analysts predict that Bed Bath & Beyond will post -3.75 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on BBBY shares. Wedbush boosted their price objective on Bed Bath & Beyond from $10.00 to $13.00 and gave the company an "outperform" rating in a research report on Tuesday, July 22nd. Needham & Company LLC reissued a "hold" rating on shares of Bed Bath & Beyond in a research note on Tuesday, July 29th. Finally, Wall Street Zen raised Bed Bath & Beyond from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $8.86.

Institutional Trading of Bed Bath & Beyond

A number of large investors have recently modified their holdings of BBBY. Nisa Investment Advisors LLC lifted its holdings in Bed Bath & Beyond by 85.2% during the second quarter. Nisa Investment Advisors LLC now owns 3,629 shares of the company's stock worth $25,000 after buying an additional 1,669 shares during the period. Headlands Technologies LLC purchased a new stake in Bed Bath & Beyond during the second quarter worth $33,000. Caitong International Asset Management Co. Ltd lifted its holdings in Bed Bath & Beyond by 104.2% during the first quarter. Caitong International Asset Management Co. Ltd now owns 5,531 shares of the company's stock worth $32,000 after buying an additional 2,823 shares during the period. Ameritas Investment Partners Inc. lifted its holdings in Bed Bath & Beyond by 25.3% during the second quarter. Ameritas Investment Partners Inc. now owns 5,617 shares of the company's stock worth $39,000 after buying an additional 1,133 shares during the period. Finally, Platform Technology Partners purchased a new stake in Bed Bath & Beyond during the first quarter worth $59,000. Hedge funds and other institutional investors own 76.30% of the company's stock.

About Bed Bath & Beyond

Beyond, Inc operates as an online retailer of furniture and home furnishings products in the United States and Canada. The company offers furniture, bedding and bath, patio and outdoor gear, area rugs, tabletop and cookware, décor, storage and organization, small appliances, home improvement, and other products under the Bed Bath & Beyond brand.

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