Bed Bath & Beyond Inc. (NASDAQ:BBBY) Receives Consensus Recommendation of “Reduce” from Brokerages


Shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY – Get Rating) have been given an average rating of “Reduce” by the fourteen analysts that are covering the company, MarketBeat reports. Nine investment analysts have rated the stock with a sell rating and two have issued a hold rating on the company. The average 1 year objective price among analysts that have issued a report on the stock in the last year is $6.67.

BBBY has been the topic of several recent research reports. B. Riley lowered their price objective on shares of Bed Bath & Beyond from $7.00 to $5.00 in a research note on Thursday, June 30th. UBS Group decreased their price target on shares of Bed Bath & Beyond from $12.00 to $5.00 and set a “sell” rating on the stock in a research note on Wednesday, June 22nd. Bank of America decreased their target price on shares of Bed Bath & Beyond from $8.00 to $3.00 and set an “underperform” rating on the stock in a research report on Wednesday, June 22nd. StockNews.com initiated coverage on shares of Bed Bath & Beyond in a research report on Thursday, March 31st. They set a “sell” rating on the stock. Finally, Wedbush cut their price target on shares of Bed Bath & Beyond to $5.00 in a report on Monday, July 4th.

Insider Activity at Bed Bath & Beyond

In related news, CEO Sue Gove acquired 50,000 shares of Bed Bath & Beyond stock in a transaction that occurred on Friday, July 1st. The shares were purchased at an average cost of $4.61 per share, for a total transaction of $230,500.00. Following the acquisition, the chief executive officer now owns 105,587 shares in the company, valued at $486,756.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Bed Bath & Beyond news, CEO Sue Gove purchased 50,000 shares of the business’s stock in a transaction on Friday, July 1st. The shares were bought at an average cost of $4.61 per share, for a total transaction of $230,500.00. Following the completion of the purchase, the chief executive officer now directly owns 105,587 shares of the company’s stock, valued at $486,756.07. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jeff Kirwan purchased 10,000 shares of the business’s stock in a transaction on Friday, July 1st. The shares were acquired at an average price of $4.90 per share, for a total transaction of $49,000.00. Following the completion of the purchase, the director now directly owns 43,455 shares of the company’s stock, valued at $212,929.50. The disclosure for this purchase can be found here. Insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Bed Bath & Beyond

Several large investors have recently modified their holdings of the company. Mirae Asset Global Investments Co.Ltd. lifted its holdings in Bed Bath & Beyond by 2.9% in the fourth quarter. Mirae Asset Global Investments Co.Ltd. now owns 22,706 shares of the retailer’s stock valued at $331,000 after acquiring an additional 645 shares during the period. Eaton Vance Management raised its stake in Bed Bath & Beyond by 2.9% during the fourth quarter. Eaton Vance Management now owns 27,118 shares of the retailer’s stock worth $338,000 after purchasing an additional 768 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Bed Bath & Beyond by 7.9% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,431 shares of the retailer’s stock worth $303,000 after purchasing an additional 986 shares during the period. PNC Financial Services Group Inc. raised its stake in Bed Bath & Beyond by 16.9% during the first quarter. PNC Financial Services Group Inc. now owns 7,652 shares of the retailer’s stock worth $172,000 after purchasing an additional 1,109 shares during the period. Finally, Gladius Capital Management LP increased its position in shares of Bed Bath & Beyond by 19.0% in the first quarter. Gladius Capital Management LP now owns 7,854 shares of the retailer’s stock worth $177,000 after acquiring an additional 1,253 shares in the last quarter.

Bed Bath & Beyond Stock Up 5.8 %

NASDAQ:BBBY opened at $5.25 on Wednesday. The firm’s 50-day moving average price is $7.05 and its 200-day moving average price is $13.64. The company has a market capitalization of $419.79 million, a PE ratio of -0.54 and a beta of 1.98. The company has a debt-to-equity ratio of 6.77, a current ratio of 1.02 and a quick ratio of 0.15. Bed Bath & Beyond has a 1-year low of $4.38 and a 1-year high of $30.35.

Bed Bath & Beyond (NASDAQ:BBBY – Get Rating) last announced its quarterly earnings results on Wednesday, June 29th. The retailer reported ($2.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.33) by ($1.50). The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.51 billion. Bed Bath & Beyond had a negative return on equity of 90.91% and a negative net margin of 11.74%. The business’s revenue for the quarter was down 25.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.05 EPS. On average, equities analysts predict that Bed Bath & Beyond will post -6.04 EPS for the current fiscal year.

About Bed Bath & Beyond

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Bed Bath & Beyond Inc, together with its subsidiaries, operates a chain of retail stores. It sells a range of domestics merchandise, including bed linens and related items, bath items, and kitchen textiles; and home furnishings, such as kitchen and tabletop items, fine tabletop, basic housewares, general home furnishings, consumables, and various juvenile products.

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