Bed Bath & Beyond (NASDAQ:BBBY) Shares Gap Up to $9.17

Shares of Bed Bath & Beyond Inc. (NASDAQ:BBBYGet Rating) gapped up prior to trading on Tuesday . The stock had previously closed at $9.17, but opened at $9.41. Bed Bath & Beyond shares last traded at $8.77, with a volume of 136,326 shares trading hands.

Analysts Set New Price Targets

A number of research firms have issued reports on BBBY. Wedbush downgraded shares of Bed Bath & Beyond from a “neutral” rating to an “underperform” rating and set a $5.00 price objective for the company. in a report on Thursday, August 18th. KeyCorp dropped their price objective on Bed Bath & Beyond from $6.00 to $5.00 and set an “underweight” rating for the company in a report on Tuesday, June 28th. UBS Group decreased their price target on Bed Bath & Beyond from $12.00 to $5.00 and set a “sell” rating on the stock in a research report on Wednesday, June 22nd. Odeon Capital Group downgraded shares of Bed Bath & Beyond from a “hold” rating to a “sell” rating and set a $7.50 price objective on the stock. in a research note on Tuesday, August 16th. Finally, Morgan Stanley dropped their target price on shares of Bed Bath & Beyond from $7.00 to $2.00 and set an “underweight” rating for the company in a research report on Thursday, June 30th. Fourteen analysts have rated the stock with a sell rating and one has assigned a hold rating to the company. Based on data from MarketBeat.com, Bed Bath & Beyond currently has a consensus rating of “Reduce” and an average price target of $6.50.

Bed Bath & Beyond Stock Up 4.7 %

The company has a debt-to-equity ratio of 6.77, a quick ratio of 0.15 and a current ratio of 1.02. The stock’s fifty day simple moving average is $8.62 and its two-hundred day simple moving average is $12.05. The stock has a market capitalization of $700.43 million, a P/E ratio of -0.90 and a beta of 1.55.

Bed Bath & Beyond (NASDAQ:BBBYGet Rating) last issued its quarterly earnings data on Wednesday, June 29th. The retailer reported ($2.83) earnings per share for the quarter, missing the consensus estimate of ($1.33) by ($1.50). The business 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.05 EPS. As a group, research analysts expect that Bed Bath & Beyond Inc. will post -6.79 EPS for the current fiscal year.

Insider Buying and Selling

In other Bed Bath & Beyond news, major shareholder Ryan Cohen sold 5,000,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $21.17, for a total transaction of $105,850,000.00. Following the completion of the transaction, the insider now owns 2,780,000 shares in the company, valued at approximately $58,852,600. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, major shareholder Ryan Cohen sold 5,000,000 shares of Bed Bath & Beyond stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $21.17, for a total value of $105,850,000.00. Following the completion of the transaction, the insider now directly owns 2,780,000 shares of the company’s stock, valued at approximately $58,852,600. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Gustavo Arnal sold 42,513 shares of the business’s stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $24.22, for a total value of $1,029,664.86. Following the completion of the transaction, the chief financial officer now directly owns 267,896 shares in the company, valued at $6,488,441.12. The disclosure for this sale can be found here. Insiders have purchased a total of 62,000 shares of company stock valued at $288,720 over the last ninety days. 1.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. D. E. Shaw & Co. Inc. purchased a new position in shares of Bed Bath & Beyond during the fourth quarter valued at approximately $8,052,000. Bank of America Corp DE increased its holdings in shares of Bed Bath & Beyond by 217.2% in the first quarter. Bank of America Corp DE now owns 783,717 shares of the retailer’s stock worth $17,658,000 after purchasing an additional 536,654 shares during the period. Royce & Associates LP purchased a new position in shares of Bed Bath & Beyond during the first quarter worth about $6,595,000. Cambria Investment Management L.P. increased its holdings in shares of Bed Bath & Beyond by 128.1% in the 2nd quarter. Cambria Investment Management L.P. now owns 432,622 shares of the retailer’s stock worth $2,150,000 after buying an additional 242,964 shares during the last quarter. Finally, Seven Eight Capital LP bought a new stake in Bed Bath & Beyond during the fourth quarter worth about $3,155,000. 88.95% of the stock is owned by institutional investors.

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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