Bed Bath & Beyond, Inc. (NYSE:BBBY) Given Consensus Recommendation of “Hold” by Analysts

Shares of Bed Bath & Beyond, Inc. (NYSE:BBBY) have received a consensus rating of “Hold” from the six brokerages that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $10.20.

Several equities analysts recently commented on the stock. Wedbush reaffirmed an “outperform” rating and issued a $13.00 price objective on shares of Bed Bath & Beyond in a research report on Tuesday, October 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Bed Bath & Beyond in a research note on Wednesday, October 8th. Finally, Barclays set a $8.00 price objective on shares of Bed Bath & Beyond and gave the stock an “equal weight” rating in a research note on Tuesday, October 28th.

Institutional Trading of Bed Bath & Beyond

Several large investors have recently added to or reduced their stakes in BBBY. Ameritas Investment Partners Inc. raised its stake in shares of Bed Bath & Beyond by 25.3% in the second quarter. Ameritas Investment Partners Inc. now owns 5,617 shares of the company’s stock worth $39,000 after purchasing an additional 1,133 shares during the last quarter. Haven Private LLC raised its position in Bed Bath & Beyond by 10.8% during the 2nd quarter. Haven Private LLC now owns 13,620 shares of the company’s stock worth $94,000 after buying an additional 1,325 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in Bed Bath & Beyond by 85.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,629 shares of the company’s stock valued at $25,000 after acquiring an additional 1,669 shares during the period. Caitong International Asset Management Co. Ltd lifted its stake in Bed Bath & Beyond by 33.1% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 7,359 shares of the company’s stock valued at $51,000 after acquiring an additional 1,828 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Bed Bath & Beyond by 20.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,291 shares of the company’s stock valued at $140,000 after acquiring an additional 3,469 shares during the last quarter. Hedge funds and other institutional investors own 76.30% of the company’s stock.

Bed Bath & Beyond Price Performance

Shares of NYSE:BBBY opened at $5.45 on Friday. The business’s 50-day moving average is $6.39 and its 200 day moving average is $7.99. Bed Bath & Beyond has a 1 year low of $3.54 and a 1 year high of $12.65. The firm has a market capitalization of $375.23 million, a P/E ratio of -1.94 and a beta of 2.85.

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.