Bed Bath & Beyond (NYSE:BBBY) Stock Price Down 4.8% - Time to Sell?

Key Points

• Bed Bath & Beyond's stock price dropped 4.8%, trading as low as $9.75, with a significant 81% decline in trading volume compared to the average.
• Analysts have varying ratings on the stock, with two Buy ratings, four Holds, and two Sells, leading to a consensus rating of "Hold" and an average price target of $8.86.
• The company reported a quarterly loss, with the most recent earnings per share at ($0.22), despite beating expectations and generating revenue of $282.25 million, although this is a 29.1% decline from the previous year.

Bed Bath & Beyond, Inc. (NYSE:BBBY - Get Free Report) fell 4.8% during mid-day trading on Tuesday . The stock traded as low as $9.75 and last traded at $9.77. 584,114 shares changed hands during trading, a decline of 81% from the average session volume of 3,096,763 shares. The stock had previously closed at $10.26.

Analysts Set New Price Targets

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

Bed Bath & Beyond Stock Performance

The stock has a market capitalization of $552.25 million, a price-to-earnings ratio of -2.36 and a beta of 2.77. The firm has a fifty day moving average of $9.15 and a 200-day moving average of $6.74.

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

Institutional Trading of Bed Bath & Beyond

Several large investors have recently modified their holdings of the business. Tidal Investments LLC grew its stake in shares of Bed Bath & Beyond by 140.4% during the fourth quarter. Tidal Investments LLC now owns 2,406,746 shares of the company's stock valued at $11,865,000 after acquiring an additional 1,405,770 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Bed Bath & Beyond by 20.5% during the second quarter. Geode Capital Management LLC now owns 1,241,524 shares of the company's stock valued at $8,543,000 after acquiring an additional 211,446 shares in the last quarter. Two Sigma Investments LP grew its stake in shares of Bed Bath & Beyond by 75.1% during the fourth quarter. Two Sigma Investments LP now owns 916,178 shares of the company's stock valued at $4,517,000 after acquiring an additional 392,977 shares in the last quarter. Two Sigma Advisers LP grew its stake in shares of Bed Bath & Beyond by 362.8% during the fourth quarter. Two Sigma Advisers LP now owns 901,500 shares of the company's stock valued at $4,444,000 after acquiring an additional 706,700 shares in the last quarter. Finally, Able Wealth Management LLC acquired a new stake in shares of Bed Bath & Beyond during the first quarter valued at about $3,913,000. 76.30% of the stock is currently owned by institutional investors and hedge funds.

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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