Bed Bath & Beyond (NYSE:BBBY – Get Free Report) was upgraded by investment analysts at Zacks Research to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.
Several other equities analysts also recently commented on the company. Weiss Ratings downgraded Bed Bath & Beyond from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 4th. Wedbush increased their target price on Bed Bath & Beyond from $8.00 to $10.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Piper Sandler set a $8.00 target price on Bed Bath & Beyond and gave the company a “neutral” rating in a research note on Tuesday, February 24th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Bed Bath & Beyond has a consensus rating of “Hold” and a consensus price target of $8.67.
Get Our Latest Research Report on BBBY
Bed Bath & Beyond Price Performance
Bed Bath & Beyond (NYSE:BBBY – Get Free Report) last announced its quarterly earnings data on Monday, April 27th. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.06. The firm had revenue of $248.00 million for the quarter. Bed Bath & Beyond had a negative net margin of 5.76% and a negative return on equity of 27.60%. On average, sell-side analysts anticipate that Bed Bath & Beyond will post -0.79 earnings per share for the current fiscal year.
Insider Activity at Bed Bath & Beyond
In related news, Director Joanna M. Burkey sold 9,943 shares of Bed Bath & Beyond stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $6.38, for a total value of $63,436.34. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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
Several large investors have recently modified their holdings of BBBY. Able Wealth Management LLC purchased a new position in Bed Bath & Beyond during the fourth quarter worth $4,612,000. WMG Financial Advisors LLC bought a new stake in shares of Bed Bath & Beyond in the 4th quarter worth about $507,000. GSA Capital Partners LLP purchased a new stake in Bed Bath & Beyond in the 4th quarter worth about $920,000. ProShare Advisors LLC bought a new stake in Bed Bath & Beyond in the fourth quarter worth about $3,290,000. Finally, Lane Brothers & Co. Inc. bought a new position in shares of Bed Bath & Beyond during the fourth quarter valued at approximately $142,000. Institutional investors own 76.30% of the company’s stock.
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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