Wall Street Zen lowered shares of Bed Bath & Beyond (NYSE:BBBY – Free Report) from a hold rating to a sell rating in a report published on Saturday.
BBBY has been the topic of several other research reports. 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. Zacks Research raised shares of Bed Bath & Beyond to a “hold” rating in a research note on Wednesday, June 24th. Finally, Wedbush lifted their target price on shares of Bed Bath & Beyond from $8.00 to $10.00 and gave the company an “outperform” rating in a report on Tuesday, June 23rd. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $8.67.
Read Our Latest Analysis on BBBY
Bed Bath & Beyond Trading Up 2.8%
Bed Bath & Beyond (NYSE:BBBY – Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.23). Bed Bath & Beyond had a negative return on equity of 37.60% and a negative net margin of 7.13%.The firm had revenue of $361.16 million during the quarter. During the same quarter in the prior year, the business earned ($0.34) earnings per share. On average, equities research analysts expect that Bed Bath & Beyond will post -0.92 EPS for the current year.
Insider Activity at Bed Bath & Beyond
In related news, Director Joanna M. Burkey sold 9,943 shares of the business’s 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 transaction, the director owned 32,474 shares in the company, valued at approximately $207,184.12. The trade was a 23.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.80% of the company’s stock.
Hedge Funds Weigh In On Bed Bath & Beyond
A number of institutional investors have recently made changes to their positions in BBBY. Headlands Technologies LLC purchased a new position in shares of Bed Bath & Beyond during the 2nd quarter valued at approximately $33,000. Public Employees Retirement System of Ohio bought a new stake in shares of Bed Bath & Beyond in the fourth quarter worth $37,000. New York State Common Retirement Fund acquired a new stake in Bed Bath & Beyond in the fourth quarter valued at $47,000. Stockman Wealth Management Inc. bought a new position in Bed Bath & Beyond during the 4th quarter valued at $55,000. Finally, ExodusPoint Capital Management LP bought a new position in Bed Bath & Beyond during the 4th quarter valued at $63,000. 76.30% of the stock is owned by institutional investors and hedge funds.
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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