Bed Bath & Beyond (NYSE:BBBY) Trading Down 4.6% - What's Next?

Key Points

• Bed Bath & Beyond's shares dropped 4.6% during Monday's trading, closing at $11.46 compared to a previous close of $12.02.
• Analysts have varied ratings on the stock, with two giving it a Buy rating, four a Hold rating, and three a Sell rating, while the consensus price target is $8.86.
• The company's latest quarterly earnings showed a net loss of ($0.22) EPS, exceeding estimates, but revenue declined 29.1% year-over-year.

Bed Bath & Beyond, Inc. (NYSE:BBBY - Get Free Report)'s share price traded down 4.6% during trading on Monday . The company traded as low as $11.44 and last traded at $11.46. 1,035,965 shares traded hands during trading, a decline of 66% from the average session volume of 3,057,007 shares. The stock had previously closed at $12.02.

Analyst Ratings Changes

A number of analysts have issued reports on BBBY shares. Needham & Company LLC reaffirmed a "hold" rating on shares of Bed Bath & Beyond in a research note on Tuesday, July 29th. Wall Street Zen raised shares of Bed Bath & Beyond from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Weiss Ratings reissued a "sell (d-)" rating on shares of Bed Bath & Beyond in a research note on Saturday, September 27th. Finally, Wedbush lifted their price target on shares of Bed Bath & Beyond from $10.00 to $13.00 and gave the company an "outperform" rating in a research report on Tuesday, July 22nd. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Bed Bath & Beyond presently has an average rating of "Reduce" and a consensus price target of $8.86.

Bed Bath & Beyond Stock Performance

The company has a 50 day moving average of $9.45 and a 200-day moving average of $7.21. The stock has a market cap of $692.36 million, a price-to-earnings ratio of -2.96 and a beta of 2.76.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC raised its position in Bed Bath & Beyond by 20.5% in the 2nd quarter. Geode Capital Management LLC now owns 1,241,524 shares of the company's stock valued at $8,543,000 after purchasing an additional 211,446 shares in the last quarter. Able Wealth Management LLC acquired a new stake in Bed Bath & Beyond in the first quarter valued at approximately $3,913,000. ProShare Advisors LLC lifted its stake in Bed Bath & Beyond by 19.4% in the second quarter. ProShare Advisors LLC now owns 518,173 shares of the company's stock worth $3,565,000 after acquiring an additional 84,356 shares during the last quarter. Balyasny Asset Management L.P. purchased a new stake in shares of Bed Bath & Beyond in the 2nd quarter valued at approximately $3,414,000. Finally, Refined Wealth Management raised its holdings in shares of Bed Bath & Beyond by 4.2% in the 1st quarter. Refined Wealth Management now owns 417,987 shares of the company's stock valued at $2,424,000 after purchasing an additional 16,892 shares in the last quarter. 76.30% of the stock is currently owned by hedge funds and other institutional investors.

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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